Resolved Question

Looking to open a Child Trust Fund savings account?

My fiance and I are looking for a place to open up our daughter's Trust Fund to put her £250 voucher in but we want to use a SAVINGS account, not a shared or stakeholder one. Thing is though, we can't find one anywhere! Does anyone have a savings account for their Child Trust Fund, and if so, where? Did you get anything for using them such as vouchers? (Most stakeholder ones offer some kind-of vouchers, but not sure about any savings account ones) and do you know their interest rate?

Our daughter is 4 months old on 22nd Sept, so we need one soon! Any advice or info you could give us is much appreciated! x

Best Answer - Chosen by Asker

Every major bank has one!! Try Abbey. Go to Abbey.com Click "Savings and Investments" on the top row and then "Savings for children" on the left.

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Other Answers (2)

• Check http://www.moneysupermarket.com/savings/ and choose the option for Children's Savings.
• What you are after is a Cash Child Trust Fund, which is only offered currently by 13 providers. None of the big banks offer such an account at the moment so you would need to go to a building society.
  
  The highest rate at the moment is from Hanley and Economics BS, which is paying 5.00pc, while Yorkshire BS is paying 3.00%. The link below will show you all the best deals.
  
  http://www.moneyfacts.co.uk/money/saving…
  
  While stakeholder or equity based CTFs do have the potential for bigger returns they are linked to the stockmarket. If when the bond matures the stockmarket has fallen you could get back less than you paid in. Cash CTFs have rates that move with base rate, they are not risky investments. With base rate unlikely to fall any lower, rates will increase when base rate does.