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Child Trust Fund Variation Notice from HSBC

Cazzr Posts: 87 Forumite

25 May 2011 at 1:21PM in Savings & investments

OK, not sure if there is another place in the forum for this but:

I had a letter from HSBC in the post today containing a 'Notice of Variation' about my sons CTF.

In the Changes we are making section, it mentions:

10. Interest
10.1 Gross interest will be paid at the rate of 1% below the Bank of England base rate......

Erm.. does this mean they will be reducing the trust fund or will it just not pay interest...

Sorry if it's a dim question, about to have child no 2 any day so can blame pregnancy brain.

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Child Trust Fund Variation Notice from HSBC

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