Saving For Children

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• Saving For Child

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Saving for children
Saving for a child today is a wonderful gift for
their future. Not only can they start their
adult lives with some savings in hand, but
getting kids involved early with saving also
helps them learn important lessons about money.
Find out about products that can help you start
saving for children.
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Childrens savings accounts Did You Know? Saving
for child a little each month, say 5 for 18
years, will add up over time, and earn interest
too! Your savings could grow to be enough for
your child to pay for driving lessons, or to
cover a deposit on their first rented home. You
can set up an account with a bank or building
society on behalf of a child. They can start
managing their own account once they reach the
age of seven. These accounts offer a great way
to learn how to manage money and help get kids
into the savings habit. And some 
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providers will include a gift with the account,
like a money box. Start an account with as
little as 1. In some cases, your child plans can
take out their money whenever they
like. Interest is normally paid with tax taken
away, but you can reclaim this later. Or, you
can get the interest paid in full without tax
being taken off by asking your bank or building
society for HMRC Form R85.
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Whatever you choose, taking the first steps
towards saving for your childs future could help
set them up for life. Find out more information
on Saving For Child https//www.bajajallianz.co
m/Corp/child-insurance-plans/child-insurance-plans
.jsp
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