Advertisement

loader

Talk

Advanced search

Mumsnet has not checked the qualifications of anyone posting here. Free legal advice is available from a Citizen's Advice Bureau, and the Law Society can supply a list of local solicitors.

Child Trust Fund

(7 Posts)
Kelly1978 Thu 10-Mar-05 09:41:49

Hi everyone, does anyone know what the best rate of interest is for the child trust fund accounts? Any suggestions would be helpful.

Thanks

TracyK Thu 10-Mar-05 09:56:09

I'm not sure where I'll put mine - but know it'll be a normal b soc account - nothing linked to stocks and shares. Have a look at www.moneysavingexpert.com for the latest interest rates available.

RudyDudy Thu 10-Mar-05 09:58:38

DS has a NSI (post office) account and we were thinking of putting it in there. Interest rates vary according to how much is in the account but start at about 3.3% and go up to around 4% iirc.

However, not sure you can do this as I have a feeling the money has to be somewhere no-one can get at it until the child is 18 - does anyone know if that's true? (sorry for the sort of hijack )

Kelly1978 Thu 10-Mar-05 10:01:04

Thanks for that, but I was unsure can you put it in any savings account or does it have to go into a specific account designed for the child trust fund?

RudyDudy Thu 10-Mar-05 10:10:35

Kelly - I've had a quick look on the CTF website and whilst I can't find a specific answer I think that you can open a savings account but it has to be a specfic on for the CTF as no-one but the child can access it and they can't do so until they are 18.

CTFwebsite

Kelly1978 Thu 10-Mar-05 10:16:18

Ok, thanks for the help.

Kelly

noma Fri 11-Mar-05 11:34:38

Hi Kelly, having read nearly everything about trustfunds (till my head goes dizzy)
i have decided to put it in the abbey in a savings account they seems to be the only bank which allows this,i wanted to go to the post office but they are only doing shares and i dont want that,just a simple account the same as my ds so when they are old anoth they do not fight about who as the most money.

Join the discussion

Join the discussion

Registering is free, easy, and means you can join in the discussion, get discounts, win prizes and lots more.

Register now