The Money Saving Expert has told of the “four of the best options” currently available to parents looking to help their child save money
Martin Lewis has offered some important advice to parents, with a warning to make sure they are not being short-changed.
Speaking on The Martin Lewis Money Show Live on ITV, Martin said: “Top children's savings accounts. Now, I can see the age of Kim's grandchildren there, some of them are a little bit older. Do not do this for them. Do it with them if they are old enough.. Talking about getting the best accounts, talking about interest, talking about how it all works."
Martin said:"I will start with the Halifax saver, that is the highest payer at 5 per cent interest, fixed for a year, up to £100 a month. You can pop £10 in some months, £100 another month. That is the maximum. As well as Halifax, Martin highlighted savings accounts with HSBC, whose My Savings account is available for 7 to 17-year-olds with a 3.75% variable rate and easy access up to £3,000.
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