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Child Trust Fund CTF Current Best Savings Interest Rates

Personal_Finance / CTF Mar 02, 2015 - 11:23 AM GMT

By: MoneyFacts


On 4 November 2014, to an almost national sigh of relief, the Government published draft regulation changes that will finally allow transfers from Child Trust Funds (CTFs) to Junior ISAs (JISA). The changes are expected to take effect from 6 April 2015.

Moneyfacts has compared the remaining cash versions of CTFs with equivalent JISAs to see if it is worth transferring…

Sylvia Waycot, Editor at, said:

“CTFs have never been popular with banks or building societies, mainly due to the cost involved in setting them up compared with the often very small amounts of money invested in them.

“When CTFs were originally launched in 2005 only eight out of 117 providers that could have offered them did so.

“Today, the rates offered on CTFs are poor compared with JISAs.   

“A child can earn as little as 1.10% from a Nationwide CTF and yet their sibling could get 3.25% with a JISA.

“The highest paying CTF from Yorkshire Building Society at 3% includes a bonus of 0.70% for 12 months. Most children can’t remember where they put their bikes when they come out of shop, so the chances of them remembering something in 12 months’ time seems quite unlikely.  

“The good news is that after years of being trapped in an account that never worked, the chains are about to be broken and any money saved can be transferred to a JISA, which that at least offers some chance of a real return.

“Maybe it’s time that cash CTFs fade into non-existence, just like the rates have.” - The Money Search Engine is the UK's leading independent provider of personal finance information. For the last 20 years, Moneyfacts' information has been the key driver behind many personal finance decisions, from the Treasury to the high street.

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