Cash Child Trust Fund - savings interest rates and account summary
You can find a summary of our Cash Child Trust Fund in the table below. If you have any further questions, please take a look at our existing customers section for more help, or view the .
Summary Box
| Key Product Information for our savings accounts |
| Account name |
Cash Child Trust Fund |
| Interest rates (AERs) |
Variable |
| Balance |
AER* % |
AER** % |
Gross p.a. % |
Net p.a. % |
| £1+ |
1.10 |
2.10 |
2.10 |
n/a |
| Effective from 01 April 2009 |
| Tax status |
Tax free |
| Conditions for bonus payment |
£240 or more paid into the account each year excluding Government contributions. |
| Withdrawal arrangements |
No withdrawals allowed until the child's 18th birthday when the child (and no-one else) can withdraw the money. |
| Access |
Branch |
| Savings account opening |
| Minimum & maximum balances |
£0 minimum
maximum £3,600 per annum investment |
| How to open |
You can apply by visiting your nearest Nationwide branch (). |
| Maximum number of savings account holders |
1 + registered contact |
| Minimum age |
Birth |
| Running the account |
| Paying in |
The maximum yearly deposit for a Child Trust Fund is £3,600. A year runs from the child's birthday to the day before the child's next birthday. Government contributions and interest do not count towards this limit.
You can:
- set up a regular standing order
- pay in cash or cheques at any Nationwide branch
- transfer money online
|
| Taking money out |
Money can only be withdrawn by the child when the child reaches 18. |
| Keeping track of my money |
We'll send an annual statement shortly after your child's birthday. The statement will show how much has been saved and how much interest your child has earned.
You and your child can also check the balance online. Simply register for internet banking – the balance will be displayed when you sign-on. |
| Interest |
Interest is added to your child's account shortly after their birthday. Interest added to the account will not affect the annual allowances – so you can still deposit up to £3,600 each year. |
* AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.
** Including conditional bonus.
If you have any further questions about savings interest rates or our Cash Child Trust Fund, please visit our existing customers section, or contact us today. For savings interest rates on other accounts, visit our main savings rates page.