Furness Building Society Deals & Sales for 2016 - HotUKDeals
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Furness Building Society Deals & Discounts

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Best savings rates: Child Trust Funds

20
The Child Trust Fund Scheme ended on 1 January 2011. However, if you already have an account for your child or unused vouchers to be spent, you can still benefit. Child Trust Funds can only be opened
NorthWest Avatar4y, 1m agoFound 4 years, 1 month ago20 Comments
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Thanks for the interest and comments. I believe in regular savings and any interest on that is acceptable as long term accumulation as cumulative interest offers nice corpus for the child to choose education, car or a home to start.
mbuckhurst
bubbablue
Why with an investment timeframe of 18 years do people keep these monies in Cash. Low rates combined with inflation and other factors will erode this money to make it useless come the child reaching 18 years.

If it was the company I got my endowment mortgage from, it would have been better to stuff the money under the mattress than send it to them, stock market gains are not much better unless you're investing close by a crash or have some expertise in investing.

The FTSE 100 is currently running at around 10% down on where it was 5 years ago, over 10 years the outlook looks better but we are talking about investing today, not 10 years ago, todays FTSE100 is around 2/3 of the way up a peak, and towards the top end of a series of lower peaks over the last 3-4 years.

I'd say toss a coin and decide whether a cash investment vehicle is better than stocks, neither seems particularly reliable at the moment.

mike

Well sustained regular savings will atleast assure a descent sum and at 3% it wont be very bad. Rates are likely to be revised with improvement in economy.
c12nny
Shame.....Sorry, there are no branches within 30 miles of your postcode but please call us on 0800 781 4311 to discuss your requirements.
Yes But need not visit the branch for transfer or new account. Get the application and return with the required information. FBS will do the rest.
bettyspaghetti
They must have reviewed their policy because I tried to transfer my son's in May to Furness and they informed me that they were not accepting CTF transfers, only new customers (presumably with uncashed cheques), so this is good to know, thank you :-)
Please check with Furness BS again as I did in August 2012 Phone them for the transfer application and return with completed forms and necessary Id and address proofs. Its very easy n simple.
utigers
I'm sure these rates are good but given the timescale share based ctf are the best option
Regular savings that too tax free @ 3% will yield a good amont at age 18 for the child. Its painless and without much burden. Say 100 per month is itself is good and max of 300 per month ie annual 3600 witll result in handsome amount.
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