Long Term Savings Account

[Dirk_brijs]

Is there any bank offering long term savings accounts for minors.

Idea is to set up an account for my son depositing a certain amount every month.

Sop by the time he has the right age he has a good start.

I Europe you have accounts that are so called blocked till they are 18 years old or so?

Anyone has an idea on what banks have to offer here or how I could do this the best and easiest way?

Thanks

[Dirk_brijs]

waw i found a topic no one knows anything about????

must be a first

[aurelius]

Not so soon....

Best type of a/c for your son may be one called Sin Mattaya savings a/c from Bangkok Bank. It pays 3.5 or 3.75% interest (depending on term), which is tax free assuming that you meet certain conditions like depositing the agreed amount every month - there are penalties for missing a certain number of deposits. The term is available for up to 60 months - but its not fixed until a certain age.

If you also have a savings a/c at BBL, you can set up a standing instruction to make the monthly transfer into this a/c at no charge, or alternatively use the internet, cash deposit machine or ATM to make transfers.

More info at the following link

http://www.bangkokbank.com/Bangkok+Bank/Pe...wee/default.htm