Saving for your child

The period of saving for a child usually extends over a number of years, even a decade, so an account is not a good option. Inflation will reduce the purchase power of the cash in an account. Because of that it can be good to consider other options, such as funds.

• Saving in funds is the easiest option, as our experts will select the investment alternatives within the fund and manage the diversification for you.
• If you want to make it easy for the grandparents or godparents, for example, to save for your child, they can transfer money as a credit transfer to the investment alternative you have chosen.
• The equity savings account is intended for anyone interested in investing in shares and it is particularly well suited to saving for a child over a long period of time.

1. By saving regularly, you can bring security for your child’s adolescence. Savings accrued over a long period, even more than ten years, will enable the child to acquire a driving licence, finance their studies or make a down payment for their first own home, for example.
2. It is also important for the development of the financial skills of a child or young person that they gain experience of saving. In fact, understanding how saving works is an important financial skill as such. Later on, it will help them in assuming responsibility for their finances. 
3. Did you know that when you invest responsibly, you can impact the environment, human rights and improvement of working conditions in the long term? This way you will create a more sustainable future for your child. Read more about sustainable investing.

+ Did you know about the baby gift?

We recommend that you start saving for your child today. We will gift your child 20 euros when you open an account for a child under the age of 6 months and direct your child benefits to the Nordea account. If you start saving regularly in funds for your child in addition to this, the baby gift will amount to 40 euros. Read more about our baby gift.