Best children’s savings accounts: Top 10 accounts with high interest right now | Personal Finance | Finance

A minimum of £1,000 is required to open the account and savers can opt to have interest paid monthly or annually. Where payable, annual interest is paid on April 5 each year, while monthly interest is paid on the last working day of each month.

Withdrawals and early closures are also not permitted during the two-year account term.

Leek Building Society’s 5 Year Fixed Rate, Fixed Term Bond

Sixth on the list is the Leek Building Society’s 5 Year Fixed Rate, Fixed Term Bond with an AER of 4.2 percent.

The minimum deposit to open the account is £1,000 and interest is calculated daily and paid annually on the anniversary and at maturity of the term.

Withdrawal of funds will only be permitted in exceptional circumstances and at the discretion of the building society.

Coventry BS’ Fixed Rate Bond (298)

Ranking seventh is Coventry BS’ Fixed Rate Bond (298) with an AER of 4.1 percent, fixed until December 31, 2024.

A minimum deposit of £1 is required to open the account, up to £250,000 can be invested over the course of the term, and interest is calculated and compounded annually.

Nottingham BS’ Fixed Rate (Issue 272)

In eighth place is Nottingham BS’ Fixed Rate (Issue 272) with an AER of 4.05 percent.

The term is fixed until April 30, 2026, and a minimum deposit of £500 is required to open it. Withdrawals aren’t allowed until the account matures, and up to £750,000 can be invested.