Child trust fund-best one to open?

tina92

Hi everybody,

I need to open a child trust fund account and I am thinking of doing so with the nationwide. I was thinking of just going with the cash option i.e not shares as in the stakeholer account that they offer. What do others think. Would this be a good enough idea for me to do?

many thanks
Tina

Mikeyorks

Read the article on the main site :-

http://www.moneysavingexpert.com/savings/child-trust-fund-vouchers

Personally - with 18 years to go - I would go for the Investment CTF, but only if you intend to add to the funds (2 x £250?) the Govt provides. If not - definitely stick to cash.

Kai'sMummy

Hi there, I opened my sons ctf a/c in jul 07 (he was born end july 06 - naughty naughty i know!) with the yorkshire non stake holder as they came off best in which mag at the time - int of 7.3% for first year, lowering to 5.85 afterwards - still good though?....anyway, two years on, and a balance of £535.17 (2 vouchers as low income) i was wondering who would be my best bet now?
On another note, my ten yr old didnt get a voucher, so yesterday i opened a halifax 10% for the first year savings account - regular saver account - i will pay £20 a month in for the first year to try and catch her up with my son. After that it transfers to a save4it account which i am willing to shop around with once this happens.

I am sure there are tonnes more of you out there more savvy than me re money - so any advice? ps i dont earn/pay tax and have already applied for interest to be paid gross.....other suggestions welcome, and Martin, if you would like to come round for a cuppa to discuss this i am in most days - with cakes ;0)