Best children bank account

Donaoib

Registered User
Messages
11
Hi. I want to put my children child allowance into a bank account for them so they ll have money hopefully for college. Does anyone know the best interest rate in any bank at the moment.
Thank you in advance
 

Drakon

Frequent Poster
Messages
788
I opened an account with EBS about five years ago but when the balance was approaching the €5k limit I opened an account with BoI last year.
Both times I researched the best AER available. I cannot remember the the EBS rate but the BoI rate is 2.5%.
However, the latter is set to drop to 0.25% in a couple of months so I’ll be on the lookout again.
I’d appreciate knowing what you find. Thanks.
 

Donaoib

Registered User
Messages
11
Im like you drakon. I have just reached the limit with ebs so im thinking of bank of Ireland. I think the post office saving account has very little interest on it.
 

AndroidMan

Registered User
Messages
33
I opened an account with EBS about five years ago but when the balance was approaching the €5k limit I opened an account with BoI last year.
Are there charges on these two accounts? I know the €6 per month was going to be applied by BOI on all current accounts, maybe these kids accounts are excluded.
 

Drakon

Frequent Poster
Messages
788
Are there charges on these two accounts? I know the €6 per month was going to be applied by BOI on all current accounts, maybe these kids accounts are excluded.
The kids account is a “savings account” not a “current account”. I’d be surprised if they applied the charge you refer to.
 
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