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Child Trust Fund
In April 2005, a new Government initiative was introduced to help parents educate children about the benefit of saving. If your child was born on or after 1st September 2002 then you should have received a Child Trust Fund voucher from the Government for at least £250 per eligible child. The voucher will enable a Child Trust Fund account to be opened in the child's name, with the money available to them when they turn 18.
Two great ways to invest your child’s voucher with Leeds Building Society.
Once you have received your child’s voucher, you’ll need to use it to open a Child Trust Fund savings account, as soon as possible.
You have two CTF accounts to choose from, a Non-stakeholder account (Bonus Saver) and a Stakeholder account. More information on our CTF accounts can be found by selecting one of the options below.
What is it?
- A long-term cash savings account with a variable rate of interest.
- The account will pay a rate of interest that is not less than 1% below Bank of England base rate.
- There is no risk to the capital invested and the balance will grow with the addition of interest at the current rate payable.
What are the risks?
- Whilst there is no risk to the capital invested the growth may not be as high as a stockmarket based investment.
- The tax advantages of the CTF may change or be withdrawn.
A stakeholder CTF account is also available. Details of the stakeholder CTF account is set out at HM Governments website at www.childtrustfund.gov.uk.
Alternatively, you can apply to The Childrens Mutual. Click here for more details »
Where can I get more information on the Child Trust Fund?
A good place to start is reading our Frequently Asked Questions guide.
We also recommend contacting the Inland Revenue either by logging on to www.childtrustfund.gov.uk or phoning the helpline on 0845 302 1470 (8am-8pm).
Alternatively please feel free to contact your local Leeds Building Society Branch or phone 0113 225 7777 for further assistance.