Savings accounts, everybody needs some form of savings account. The government encourage us all to save and open the most appropriate savings account we can find. They are even giving new born babies money to open their own savings account. Now the banks are marketing themselves to tiny tots trying to encourage them to give them their £250:00 until they are 18. But what rate of return will these tiny investors receive on these long term savings accounts? Can they swap their money from one savings account to another savings account without penalty? If you were to put your child's money into a high street savings account how much interest do you think it would make over 18 years? More to the point, if you put £250:00 into a savings account how much do you think the bank will make? Savings accounts for the very young, savings accounts for the very old and savings accounts for everybody in between. How do you choose your savings account? UK Financial Options.