Compare Child Savings Plans
It's never too early to start saving for your child's future.
The different child savings on offer include:
- Bank or building society savings: For young children, parents can open a savings account on behalf of a child, although there is a potential tax liability on the parent if the interest on the child savings account exceeds £100 per year
- Investment savings: A number of child savings investment plan providers offer plans which are marketed for children and often pay higher potential returns for regular investment. For the 2017/18 tax year, you can now invest up to £4,128 in a Child ISA
Choose the right child savings plan for your child and start building their financial future today.
A new development in child savings has appeared in the form of junior ISAs (as at November 2011), which are a tax efficient way for parents to invest and save money with the purpose of giving it to their children when they have grown.
These kinds of child savings accounts are not available for everyone though, and the eligibility criteria are that the child in question must either be:
- A child born on the 1st of January 2011 or at any point after that date
- Someone who is under 18 but was born before September 2002
The limit on these kinds of child savings accounts is £4,128 for the 2017/18 tax year, which is held in the child’s name and for the most part is tax free. While parents manage the account until the child is 16, they cannot withdraw any of the money during this period.
If investing in a junior ISA deal seems like an attractive option to you see the table below:
|Provider||Junior ISA Provider||Regular Savings||Investment Options||Online Valuations||More Info|
|Charles Stanley Stocks & Shares Junior ISA||Charles Stanley Direct offers a Stocks and Shares Junior ISA with no initial charges or additional annual fees. Choose from a range of investments including shares, funds, gilts, bonds, investment trusts and ETFs.||More Info >|
|Scottish Friendly My Select Junior ISA||A selection of eight funds to choose from, so you can tailor your child's investment||More Info >|
|One Family Junior ISA||Apply online and receive a £30 Amazon e-voucher (T&C;’s apply – see OneFamily website for details). The OneFamily Junior ISA helps you to invest for your child’s future. It could help towards going to uni, driving lessons or perhaps helping to pay for a flat of their own.||More Info >|
|Junior Stocks and Shares ISA||FREE Children's ISA Guide. Choose from over 2,500 unit trusts and OEICs from leading fund managers. Invest from £25 per month or lump sums of £100.||More Info >|
|Shepherds Friendly Junior ISA||A range of assets including UK and global shares, bonds and cash||More Info >|
Important Risk Information:
This website contains information only and does not constitute advice or a personal recommendation in any way whatsoever. The value of investments and income from them can fall as well as rise and you may not get back the full amount invested. The tax efficiency of ISAs is based on current tax law and there is no guarantee that tax rules will stay the same in the future.
Different types of investment carry different levels of risk and may not be suitable for all investors. Please ensure that you read the Important Risk Information for further details. Prior to making any decision to invest, you should ensure that you are familiar with the risks associated with a particular investment and should read the product literature. If you are in any doubt as to the suitability of a particular investment, both in respect of its objectives and its risk profile, you should seek independent financial advice.