Wheres best for kids small savings accounts?

T

Toby

Registered User
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I'd like to set up savings accounts for the kids to put small amounts into themselves, is the post office best for convenience etc or credit union?

Thanks
 
You will get a poor return at the CU.

'An Post' State Savings products are best for long term savings.

Options worth considering ...

Permanent TSB: My Cash
3.00% from €1 to €20,000
0.10% on €20,000+ on the entire balance.

  • Instant access.
  • Account aimed at 12-18 year olds.
  • Interest paid annually on the first working day after 20th November.
  • ATM card supplied with account.
  • Deposit Protection: Unlimited via Eligible Liabilities Guarantee.
Click to expand...
[broken link removed]
2.50% from €1 to €19,999.99 **
1.50% on €20,000.00+ on the entire balance.

  • **Rate applies from 18 September 2012 as per an advertisement in the Irish Independent on 18 July 2012. The current rate is 3.00%.
  • Instant access.
  • Account aimed at children under 12.
  • Interest paid annually on the first working day after 20th November.
  • Deposit Protection: Unlimited via Eligible Liabilities Guarantee.
Click to expand...
 
Thanks, the post office is very convenient for quick deposits. Is there any reason to go to a bank instead?
 
I have an account set up with PTSB Safari for my daughter since she was born in 2010. It was easy to set up - as I already have my own accounts with PTSB. They have also made it available to me online. I currently use it to put any cash gifts she receives in... once shes old enough, she will be encouraged to save like I was! :cool:
 
it’s a fun time to teach kids about savings, and there’s some serious interest to earn on the side. You can learn about the pitfalls of kid's savings and discover the banking options right here.
 
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