WebFeb 5, 2007 · If the account is closed, the interest is paid at the save4it rate 5.55% AER currently. If adult ones are closed, they drop to websaver rate from 7%. 5 February 2007 at 10:41PM. MrBen_4 Forumite. 147 Posts. My Halifax regular saver has just matured. WebOct 1, 2024 · On interest, the easy winner is the Halifax Kids’ Regular Saver (up to age 15), which pays 4.5% AER fixed for a year, though you can only pay in between £10 and …

What Is A Savings Account & How It Works – Forbes Advisor

WebMay 15, 2024 · With the Young Saver account, children could earn 2pc interest on balances up to £20,000 and 0.25pc above that amount. With the new Kids’ Saver the 2pc rate is restricted to the first £5,000 ... WebOpened this Halifax Save4 it Children's Saving account for my 2 grandchildren after reading on the internet it offered 6%. Well no it doesn't really. You have a passbook for the Save4it account and have to pay into the childs regular saver account a minimum of £10 per month by direct debit for 12 months to get the 6% interest. fabio heuseler

Halifax child and teenager account review - Finder UK

WebCompare our children's, youth and student accounts. For 11 to 17 year olds who want to start managing their money. Contactless Visa debit card or Cashpoint® card. For accounts opened before 23 August 2024 - Earn interest of 0.50% AER (0.50% gross p.a.) variable on credit balances between £1 and £2,499.99. WebJul 21, 2024 · With the Halifax account, once you’ve got both the monthly saver and the kids saver set up the money just moves over automatically each year, so you don’t need to do anything unless you want to. Oh ok, so with Halifax once the 12 months at 4% has ended, the money moves across to the kids saver. WebMar 13, 2024 · Children are taxed in the same way as adults. This means they can earn a total of £18,750 before paying tax (provided they have no earned income) in the … does iehp cover gym membership