I'll be depositing funds in their accounts regularly, which will keep sitting there for about 6-10 years, so I'll be looking to accumulate some sort of interest during that period. What options should I consider for this?
it's a good plan and very rarely done by parents in general, but my advice is don't make them a bitcoin wallet first, it's better to use the wallet you use.
because if you intend to give your assets to your children in the future, the most important thing is bitcoin.
so it's better to use one wallet, to make it easier for you to control everything, and when the time comes, you just have to share your assets with your children.