The Money Show Host Martin Lewis revealed the best children's savings accounts on the most recent episode of his ITV personal finance programme.
Martin Lewis began talking about children's savings accounts when a mother videoed in to ask the Money Saving Expert founder what accounts were best for young children.
She said that she was looking for accounts that allow her children to take out some money in times of emergency while keeping some aside for when they turn 18.
Martin Lewis then revealed the top children's savings accounts available at the time of the show's airing.
On @itvMLshow 8pm tonight - parents, grandparents, key family finance info. Kids savings, kids pensions, Childcare help, Life Insurance, Uni costs, Grandparent credit, Mobiles, LISAs and more.
— Martin Lewis (@MartinSLewis) January 31, 2023
Do watch or at least tape. Got questions to suggest, just use #MartinLewis
Martin Lewis reveals the top children's savings accounts
Here are the top children's savings accounts according to Martin Lewis:
Ages 0-15 (Halifax - Kids regular saver)
These savers accounts offer a 5% fixed rate for one year on up to £100/month with the account needing to be closed to withdraw the money.
Can be opened online or at a branch.
Ages 0-16 (Saffron BS - two-year children's bond)
4.4% fixed rate on £500 to £25,000 with no early withdrawals.
Can be opened at a branch or a post office.
Ages 7-17 (HSBC - My Savings - Debit card from age 11)
3.75% variable rate easy access up to £3,000.
Can only be opened online if the parents are HSBC customers (if not opening at a branch)
Ages 0-17 (Leeds BS - Ronnie the Rhino Youngsavers)
3.65% variable easy access on £10 to £1 million.
Can be opened at a branch or via a post office.
The Money Show airs every Tuesday at 8 pm on ITV1 and ITVX.
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