Saffron Walden Herts & Essex Building Society Accounts > Reviews > Ladybird Childrens Savings A/c -interest rates

Author's product rating:   

Efficiency of service
Competitiveness of charges/rates
Online - Content/organization of site

Advantages:	Excellent Interest rates for Childrens Savings Accounts
Disadvantages:	No internet access to accounts .

Recommend to potential buyers:

yes

Full review

I had decided to start up a savings account for my children and therefore started to search for the best interest rates on offer.

At the top of the comparison lists was the Saffron Walden, Herts and Essex Building Society.
This building society is based in Saffron Waldon, Essex and has 12 branches in Essex, Hertfordshire, Suffolk, and London, as well as agents in Norfolk and Cambridgeshire. Also it is in partnership with Liverpool Victoria group.
This building society offers the usual adult financial products - Mortgages, Isa, Tessa, Saving Bonds etc etc but also offers a great set of childrens savings accounts.

The Ladybird Savings account is aimed at childrens upto 16 years old and offers a great rate of interest - currently (at time of the review) 5.35% - which is about as good as you can get! This account can be opened with as little as £1.00 and up to £20,000 - so lots of saving ability!
The interest is added annually on the 31st December and has instant access.
The account is run via a passbook with an adult (s) nominated as trustee.
The account can be operated via the branch but if you cant get to one then it can be operated via the post.
Upon opening the account the children get a great Ladybird money box - which went down well!
Now to qualify to open an account you must have an address in the Societys area and you will become a member of the society. For more information go to their website www.swhebs.co.uk

They also offer a Savings account at the same excellent interest rate for 12-18 years which can be operated by the child.

My dealings with the Society have been very positive with quick postal and branch service. A great way to save for your children and grandchildren!