Homework on children's savings vital

Interest rates on children's savings accounts are often unenviably low, so it pays to study the options carefully before choosing an account or investment, writes Louise McBride.

19th March, 2005

Although the average Ir ish child has about 15 t ime s the amount of cash today than they had 30 years ago, worthwhile savings accounts for children are fewand far between.

The best interest rates offered by banks on children's deposit accounts are generally between 1 and 1.75 per cent, compared to up to 2.8 per cent on deposit accounts for adults (though higher rates are only available to those with significant sums). Furthermore, unless you...

Subscribe from just €1 for the first month!

Currency

What's Included

With any subscription you will have access to

  • 971569B3-2C5E-4C45-B798-CEADE16987A8

    Unlimited multi-device access to our iPad, iPhone and Android Apps

  • 099C8662-C57C-42F2-9426-F2F90DF17C8F

    Unlimited access to our eReader library

  • 198AE43B-B9CF-4892-8769-D63C2104BA08

    Exclusive daily insight and opinion seven days a week

  • D8F37B78-25E4-4E4A-A376-4F5789B1564A

    Create alerts to never miss a subject that matters to you

  • B15F2521-37CD-4E02-B898-730A20D39F7F

    Get access to exclusive offers for subscribers on gifts and experiences

  • A564FE02-1AB8-4579-AF9D-BA32A2E5ACA7

    Get content from Business Post, Business Post Magazines, Connected, Tatler and Food & Wine

Share this post

Related Stories

The year in review

Newsround: What Thursday’s papers say