Child Trust Fund - HotUKDeals
We use cookie files to improve site functionality and personalisation. By continuing to use HUKD, you accept our cookie and privacy policy.
Get the HUKD app free at Google Play

Search Error

An error occurred when searching, please try again!

Login / Sign UpSubmit
Expired

Child Trust Fund

savelife Avatar
6y, 11m agoPosted 6 years, 11 months ago
HI All,
I have recieved my child trust fund today from HMRC for the first time and i dont have an idea where to start the account for my baby. if any of you have done it before or knows better could you suggest me please? better intrest rate or any other benefit we can get through opening an account ?

Kind regards
savelife Avatar
6y, 11m agoPosted 6 years, 11 months ago
Options

All Responses

(9) Jump to unreadPost an answer
Responses/page:
#1
its pretty much down to luck who you choose no matter what anyone says
#2
it's luck, i just ended up using asda
#3
i used asda as well, they were giving a free george voucher, not sure if they still do, some years it goes up and sometimes it goes down ( she is 6), the other thing to remember is that if you are not happy you can always more it to another provider. We spoke to a finacial adviser and they said its just luck
#4
Go for banks that make big money, as you can link your childs trust fund with shares (will/might) give you higher interest in the long run............. HSBC, has a very good record.
If you just go for the fixed trust fund, ie ASDA the interest stays put.:thumbsup:
#5
We just stuck it in a savings account with brittania.. :)
Have a read through the Child Trust Fund website you will get more information from there .. x
#6
steph_reid
We just stuck it in a savings account with brittania.. :)
Have a read through the Child Trust Fund website you will get more information from there .. x


Did the same but with Abbey at the time - but they've moved it elsewhere recently.
#7
I have done all my 3 kids with asda, there 5, 2 and 7 months, If you put in £10 a month into it they give you £25 giftcard.
#8
As I recall, there are 3 levels of risk / benefit.

- No risk, not linked to stocks, basically just a savings account so smallest potential benefit
- Medium risk, linked to specific reasonable reliable stocks so unlikely to really tank, provides the middle level of potential benefit
- High risk, no limitations on which stock is invested in, so high potential benefit, but then they could pick next year woolies to invest in...

Once you've picked the level of risk you are happy with, you can pick from a number of different providers.

The site below has some comparrisons (past performance and freebies)

[url]www.myeggnest.com[/url]

As always [url]www.moneysavingexpert.com[/url] has a good explanation of all this.

E.M.
#9
Thanks to everyone for your reply.

Kind regards

Post an Answer

You don't need an account to leave a response. Just enter your email address. We'll keep it private.

...OR log in with your social account

...OR comment using your social account

Thanks for your comment! Keep it up!
We just need to have a quick look and it will be live soon.
The community is happy to hear your opinion! Keep contributing!