Jump to contentAllNewsSportCultureLifestyleMartin Lewis has advised parents and grandparents against using Premium Bonds for children, recommending Junior ISAs or high-interest savings accounts instead. Teenagers aged 13 to 17 can receive a free £50 bonus by opening a Santander 123 Mini account and depositing £50 within 31 days. Junior ISAs allow parents to save or invest up to £9,000 tax-free per tax year for a child, with some accounts paying more than 3 per cent interest. Top children's savings accounts can offer up to 5 per cent interest, making them a better choice for young savers. Premium Bonds are deemed less suitable for children because most do not pay tax on savings interest and typically hold smaller amounts. In fullMartin Lewis tells all teenagers how to get £50 for freeMore bulletinsThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in
Teenagers can claim free £50 by following this Martin Lewis advice
Jump to contentAllNewsSportCultureLifestyleMartin Lewis has advised parents and grandparents against using Premium Bonds for children, recommending Junior ISAs or high-interest savings accounts instead. Teenagers aged 13 to 17 can receive a free £50 bonus by opening a Santander 123 Mini account and depositing £50 within 31 days. Junior ISAs allow parents to save or invest up to £9,000 tax-free per tax year for a child, with some accounts paying more than 3 per cent interest. Top children's savings accounts can offer up to 5 per cent interest, making them a better choice for young savers. Premium Bonds are deemed less suitable for children because most do not pay tax on savings interest and typically hold smaller amounts. In fullMartin Lewis tells all teenagers how to get £50 for freeMore bulletinsThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in
