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Child trust fund
Child Trust Fund (CTF) is a tax free savings and
investment account for children. Children born on or after 1 September 2002 will receive a £250 voucher to start their account.
The account belongs to the child and can't be touched until they turn 18. Up to £1200 a year can be saved for the child, but
once that money is in the account it can not be withdrawn till the child is 18. The government pay a further £250 into
the account at 7. You choose the type of account you want for your child and can
move the account to a different provider or change the type of account at any time, it
will not affect any benefits or Tax Credits you receive. More info >
Savings account
A child can hold a savings account with a bank or building society from
the age of 7. You can claim the tax back on the account or register to get interest payments without tax using a R85 form.
Interest payment vary dependant on the account
Premium bonds
Parents, guardians great and grandparents can buy premium
bonds for a child under 16 they do not pay interest but they are entered into a prize draw monthly, or can be cashed in by
the child once they reach 16. Minimum investment £100. More info>
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This Internet site provides information of a general nature and is designed for information purposes
only. If you have any concerns about your own health or the health of your child, you should always consult with a physician
or other healthcare professional. Please review the terms and conditions before using this site. Your use of the
site indicates your agreement to be bound by the terms and conditions
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