Lloyds banking group launches new junior ISA

Lloyds Banking Group, the UK's largest savings and cash ISA provider, has introduced a new junior ISA savings account.

The account will offer consumers looking to save for their children's future competitive savings interest rates, allowing their investment to grow, providing their children with a significant nest egg.

Russell Galley, managing director of savings, said: "We all know that instilling the savings habit from a young age is important. Equally important is creating the environment to help nurture a longer term approach to savings in a straightforward and simple way."

The new account may be of interest to the 38 per cent of parents revealed by a recent Halifax Survey, who are looking to save money to help their children on to the property ladder.

Mr Galley added that the new junior ISA is a very positive step towards helping parents teach their children the value of building a nest egg for the future.

Lloyds Banking Group has recently demonstrated its commitment to ISA savings with the launch of the Halifax ISA Promise, which is a move towards making transferring cash much easier.
 

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2010-10-28 15:40:28 © Moneyextra.com