Saving / investing for children

Yorky

The Northern Rock provides a competitive rate for savings (3.75% for €1k plus) but it is only open to over 18's so an adult has to open it in their name on behalf of a child and therefore the interest is subject to DIRT.

Is there a savings account paying a competitive rate for under 18's who have little or no income, or certainly below the Revenue tax exemption limit, and therefore would be entitled to gross interest?

Thanks in anticipation.

hmmm

Is this because you're trying to encourage your kids to save money? The Credit Union may offer reasonably good rates, and they'll also (usually) be more child friendly than the commercial banks. Also, the Post Office may allow you to open savings accounts or similar.

Yorky

Is this because you're trying to encourage your kids to save money?

Yes, I am saving for them mainly and I don't see why I should have to pay DIRT when I have already paid tax on the money I am saving for them and they are non-taxpayers so why should they be subject to DIRT?

hmmm

sorry, nonsensical post here

Yorky

sorry, nonsensical post here

Why? Would you like a breakdown of what I am asking?

hmmm

Yorky wrote:

Why? Would you like a breakdown of what I am asking?

No, I drafted a reply and then realised it made no sense so I deleted it.