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Child Trust Fund

9
Found 16th Feb 2010
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

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9 Comments

its pretty much down to luck who you choose no matter what anyone says

it's luck, i just ended up using asda

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

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:

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

steph_reid;7865491

We just stuck it in a savings account with brittania.. Have a read … 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.

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.

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.

Original Poster

Thanks to everyone for your reply.

Kind regards
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