Children’s bond launched

| September 10, 2007 | 3 Comments

According to a Government-sponsored report, the next generation of homebuyers will struggle to get even a toehold on the property ladder because houses will be worth 10 times average earnings in 20 years time.

Consequently, it is imperative that parents plan for their child’s financial future, whether it be in the form of a Trust Fund or a Saving Bond.

Bradford & Bingley has launched a Children’s savings bond which has a guaranteed fixed return and a rate of 6.4% which, according to the bank, is extremely competitive. Children up to the age of 16 are eligible for the saving bond and are also entitled to gross interest on the bond.

The minimum opening balance for the bond is £100, with the maximum balance at £25,000. A spokesperson for Bradford & Bingley commented that their Kid’s Saving Bond offers parents an excellent way of investing in their children’s future while achieving great returns.

The bank added that parents can be assured that their children’s savings have the added security of guaranteed returns, as well as offering exceptional savings rates.

Comments (3)

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  1. William Davies says:

    How can a financial journalist claim to have any idea what she is talking about when using terms like “6.4% which, according to the bank, is extremely competitive”?

    Surely you should know if it is “extremely competitive”

  2. William Davies says:

    What is the point of this - “Please add 8 and 2″…i feel the ‘’ people have too much time on their hands!

  3. Brian Turner says:

    “according to the bank, is extremely competitive”

    FM is a news site, not a price comparison site. 6.4% may not be so competitive compared to other savings methods.

    “What is the point of this - “Please add 8 and 2″”

    It’s a basic anti-spam measure. There are a lot of automated scripts which will fill in comment forms for spam purposes. In just over a month, it’s already stopped 1,500 spam comments.

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