Child trust fund providers

Amongst the choice of Child trust fund providers, the Child Trust Fund is a remarkable government scheme available to parents.

According to this new scheme, all infants are eligible to receive a voucher worth 250 pounds which can be put into a trust fund for their child.

There are three types of account into which the voucher can be invested. Stakeholder is a share based account which can be swapped for cash. A Share account and savings account are the two other types of account.

This new scheme is an excellent way to help with the financial future of your child. The government is very keen to make sure that every child is provided for.

One of the best things about this fund is that friends, uncles, grandparents, parents and almost anyone can add up to a maximum of 1200 pounds a year in cash or funds into the child trust fund.

Once the money is added, it cannot be withdrawn. There are a few qualifying criteria in order to be eligible for the trust fund. Only infants born on or after September 1st, 2002 are allowed to start a child trust fund.

Children who are not qualified for this fund can invest in a Child Bond which again is a tax free plan for long term growth and savings for the child.

There are plenty of child trust fund providers outside the government scheme. Depending on the amount of risk that you are willing to take, what your goals are for savings and the amount available to invest, then there are child trust fund providers with the right product for you.

Currently, some of the best known providers for child trust fund are Family Investments, Britannia, Engage Mutual, Family Investments, F&C, Nationwide, Earl Shilton and Children’s Mutual.

If you start early and invest in a cash child trust fund for your son or daughter, you will have a decent amount set aside for the future. Investing in the right product that will provide you with the best possible return is very important.

Child trust fund providers list

Despite the impending introduction of the Junior ISA, those still invested in the Child Trust Fund still have options with reference to maintaining and re investing their fund.

The following providers still offer a Child Trust Fund non stakeholder savings account.

  • Bristol Credit Union
  • Britannia Building Society
  • Cambridge Building Society
  • Chorley Building Society
  • Earl Shilton Building Society
  • Furness Building Society
  • Halifax
  • HSBC
  • Leeds Building Society
  • Leeds City Credit Union
  • Leicester Credit Union
  • Monmouthshire Building Society
  • Nationwide Building Society
  • Redmayne Bentley Stockbrokers
  • Shepshed Building Society
  • Skipton Building Society
  • Yorkshire Building Society
There is a growing fear that when the Junior ISA is launched at the end of 2011, those still invested in the old Child Trust Fund will see their options to manage their funds severely curtailed as providers begin to focus their efforts on introducing products for the Child Trust fund replacement offering.
For more information on Child Trust Fund savings accounts we would recommend that you visit directly the website of the providers listed above.

{ 1 comment }

VictoriaJ September 9, 2011 at 10:38 am

We are still invested in the old CTF. I see above that some of the providers you mention are quite obscure. Is there any particular provider you would recommend if we chose to transfer our CTF to another provider offering a reasonable rate of interest and customer service?