Hello All,

Unfortunatly me and the mother have split up now and i want to set up a bank account for daughter so she gets some money when she is 16, 18 or 21?

Can anyone tell me which account would be best or building society to go with for best interest over 17years?

Regards

Callum

This guide might help.

http://www.moneysupermarket.com/savings/savings-decision-tree/?goal=SAV_CALCULATOR

Thanks very much mate! ill have a look at this in more detail tonight after work

Interest rates for savers are grim at the moment, but likely to rise at some point, so if you're looking long term saving, as your post suggests, be wary about locking into the longer term low rates on offer at the moment

ISA's are best as the interest paid is tax free, but the amount you can save in any tax year is limited - however over 17 years you could shelter a substantial sum from tax

Or depending on the sum of cash, invest it in something? Unless you're looking at adding to the account continually, even then you can still invest in stufff. For instance:

Antique guns

Classic cars

Property

Precious metal

..also, shares such as arms (weapons) companies and cigarette companies are pretty good to buy shares in, (I've heard), if you're happy to overlook the ethical side of things....

Premium Bonds with buying more bonds with any winnings automatically set up?

Premium Bonds with buying more bonds with any winnings automatically set up?

Ive had premium bonds for 30 years and they still haven't won anything!

http://www.moneysavingexpert.com/savings/premium-bonds

At least premium bonds are slightly better than the national lottery, still have your original investment. If you havent won anything in 30 years then youve been very unlucky

At least premium bonds are slightly better than the national lottery, still have your original investment. If you havent won anything in 30 years then youve been very unlucky

My dad has been very lucky over the years with them,

When is it my turn then? I forgot to add that i only have £5 of them!

Its a £1000 minimum investment i think now. £5 was a lot back in good old 1985!

£100 minimum investment ;)

http://www.nsandi.com/premium-bonds