children bank account

[burnwoods]

Hi. Just want to find out which bank's kid account is better? My kids are from 11/2 to 3 yr old.
It seem like all their interest rate is the same for all banks.

[punggolow]

We use "parents" bank account. Just simply do a record and pay them interest at the end of the yr. Kids could view it anytime, withdraw to buy books / toys for self or presents for others (of course with my permission). We then use this their money to invest, playing the role of the banks I find the interest rates by the banks are pathetic.

[Dragon]

We use "parents" bank account. Just simply do a record and pay them interest at the end of the yr. Kids could view it anytime, withdraw to buy books / toys for self or presents for others (of course with my permission). We then use this their money to invest, playing the role of the banks I find the interest rates by the banks are pathetic.

NTUC children thrift account offer 2.15% per annual interest (better than bank rate). Go to this website have a look.  http://www.ntucthrift.com.sg

[Alaska]

I open POSB and OCBC children's savings under their own names with finger prints.

OCBC offers attractive gifts and stickers which children looking forward to. I'm looking into long term means when they become adults at least the a/c continues till the end.
OCBC charge service charge if giro is not successful, whereas POSB is not charging.

Solely depend on the bank's interest rate? forget it.......no hope one lah. Have to buy other insurance to gain more.