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Compare Children's Savings Ideas

Scottish Friendly
My Select Junior ISA Scottish Friendly
Open from £10
Term No fixed term
Investment Linked Choose from 8 funds

Why we like it: Invest tax-free from £10 a month or a £50 lump sum — or a mix of both.You can raise, lower, stop and restart your payments any time you like.Your money will be invested in a My Choice policy within a Scottish Friendly Junior ISA which invests in your choice of funds. When you start investing we'll send you a £25 My Rewards card which can be redeemed for gift cards at over 50 UK retailers.

Disclaimer: The value of your investments can fall as well as rise, so your child could get back less than you paid in.

One Family
Ethical Junior ISA One Family
Open from £10
Term No fixed term
Investment Linked Charities Ethical Trust Fund

Why we like it: Winner of the 2016 Moneyfacts Award for Best Junior ISA Provider. You choose how much you want to pay in, and when. From £10 to £340 a month up to £4,128 in the 2017/2018 tax year. Easy to manage: 24/7 Online Account Management and a friendly UK based call centre.

Disclaimer: Only your child can access the money and only at age 18. The value of your investments can fall as well as rise, so your child could get back less than you paid in.

One Family
Junior ISA One Family
Open from £10
Term No fixed term
Investment Linked Balanced International Fund

Why we like it: Apply online and receive a £30 Amazon e-voucher (T&C’s apply – see OneFamily website for details). Winner of the 2016 Moneyfacts Award for Best Junior ISA Provider. You choose how much you want to pay in, and when. From £10 to £340 a month up to £4,128 in the 2017/2018 tax year. Easy to manage: 24/7 Online Account Management and a friendly UK based call centre.

Disclaimer: Only your child can access the money and only at age 18. The value of your investments can fall as well as rise, so your child could get back less than you paid in.

Shepherds Friendly
Junior ISA Shepherds Friendly
Open from £10
Term No fixed term
Investment Linked Invested in With Profits fund

Why we like it: Shepherds Junior ISA lets you save regularly to offer your child a head start in life. You can save up to £4128 a year TAX-EFFICIENTLY if your child is aged under 18 and does not already have a Child Trust Fund in their name. You can invest from just £10 a month and can pay in lump sums from a minimum of £100 initially and £10 at a time thereafter. Apply for a Shepherds Friendly plan online and get a Love2Shop voucher code worth up to £50* once you’ve made your first payment into the plan

Disclaimer: Stocks and Shares Junior ISAs offer the potential for higher returns than Cash Junior ISAs, particularly if you choose to invest for the long-term. However, you do need to know that, as the underlying value of your child’s investment is linked to the fluctuations of the stock market; although the value cannot fall there is no guarantee that bonuses will be added each year.

Shepherds Friendly
Young Saver Plan Shepherds Friendly
Open from £7.5
Term 10 years+
Investment Linked Invested in With Profits fund

Why we like it: Investing for the child offers the potential for higher returns over the long-term on their money than would be available by saving in most cash savings accounts, however there are no guarantees with regards to the size of the bonus that will be paid each year.

Disclaimer: Investment growth is by means of bonuses, the amount of which cannot be guaranteed throughout the term of the contract.

Shepherds Friendly
Junior Money Maker Plan Shepherds Friendly
Open from £100
Term 10 years+
Investment Linked Invested in With Profits fund

Why we like it: The Shephereds Junior Money Maker Plan is a tax-efficient investment plan for children which aims to provide the child with a tax-free lump sum that they can use to help them towards the cost of paying for university, or to assist with any other goals they may have, such as buying a home or starting a career. The plan is designed to help you save enough over the long-term to cover the majority, if not all of the child’s fees when they start higher education, and offers a unique withdrawal process that allows them to take the money gradually throughout their university career. Apply for a Shepherds Friendly plan online and get a Love2Shop voucher code worth up to £50* once you’ve made your first payment into the plan

Disclaimer: Investing for the child offers a greater potential for growth over the long-term than is typically available in a cash-based savings account, but you should consider that, unlike cash accounts that tend to have a set interest rate, the size of each annual bonus is not guaranteed.

Savings For Children

1. Children's Savings Accounts

  • Most banks and building societies offer children's savings accounts. The problem is that many of them pay very low rates of interest. If you want security but are not too concerned about growing capital then there no shortage of options. However with many accounts paying less than inflation, in real terms over time the threat to your child's nest egg is that it will be eroded in real terms.
  • Savings accounts for children provide a good way for children to learn how to manage money and help them get into the savings habit. Additional incentives from providers might include gifts with the account such as piggy-banks or calculators.

2. Children's ISAs or Junior ISAs

A child qualifies for a Children's ISA or Junior ISA as they are often called if they are under 18 and live in the UK. If you want to open a Junior ISA for your child most ISA providers will provide this option however if is important to note that under current HMRC rules you cannot have a Junior ISA and a Child Trust Fund.

  • Junior Cash ISA - Junior Cash ISAs work in a similar way to savings account with the exception that interest is tax free and your child cannot access the money until he or she is aged 18.
  • Junior Stocks and Shares ISA - With a Junior Stocks and shares ISA you can invest in shares, bonds and other eligible investments on behalf of your child. The value of these investments can go down as well as up.

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Simplysavingsaccounts.co.uk is a trading style of Fair Investment Company Ltd.

We've been comparing savings and current accounts for many years so you can trust you're in good hands.