Child Trust Fund

Child Trust Fund

Bonus Saver Account

The non-stakeholder Child Trust Fund option offers a simple start to your child’s financial future.

The Leeds Building Society CTF Bonus Saver Account is a cash based savings account which provides a risk free home to save for your child’s future.

You can top up the account with additional contributions of up to £1,200 each year. This could be with payments as small as a £10 birthday or Christmas gift or you could choose to make a regular monthly payment into the account.

Key features at a glance

  • Minimum investment
    £250 voucher. This must be used to open an account.
     
  • Maximum investment
    £1,200 per year in addition to the Inland Revenue’s contribution.
     
  • When is interest paid?
    Annually on the Child’s birthday.
     
  • How is interest paid?
    Interest is added to the account.
     
  • Withdrawals
    Access to funds is only available when the child is 18 years of age.

How much interest will I earn?

 
Guaranteed to pay a rate of interest that is not less than 1% below the Bank of England Base Rate for the full term*.
Gross Rate p.a§ /AER†%
3.05%
*Rate includes a 1.25% p.a. bonus payable if a minimum of two £600 annual contributions are made to the account between the account opening date and each of your child's next two birthday anniversaries.

Tax free savings

There’s no personal tax to pay on any growth in a CTF account and the money your child receives when they are 18 is tax free (provided they are a UK resident at the time).

Tax free means free from income and capital gains taxes.

What if I change my mind?

From the date of account opening, you have 14 days to notify us (in writing) if you are not happy with your choice of account. Please write to

Investment Services,
105 Albion Street,
Leeds
LS1 5AS.

The account will only be opened once the 14 day period has expired. Within that period we will, if instructed by you, return the voucher to the Registered Contact. You are not able to cancel a CTF once it is open, you may only transfer to another provider.

What if I have a complaint?

We aim to provide a high quality service to customers at all times. Unfortunately mistakes do occur, but when this happens we shall do our best to resolve problems or misunderstandings which arise. Should you need to refer a matter of complaint to us, details of the procedure are available from your local branch or our Customer Helpline. Ultimately your complaint may be referred to the Financial Ombudsman Service.

Terms and Conditions

We recommend you read the specific Product Terms and Conditions and information about how your investment account works in the Product Terms and Conditions below.

If there is a conflict between the General Investment Conditions and the Product Terms and Conditions then the Product Terms and Conditions will take precedence.

We reccomend you print out the General Investment Conditions, along with the product terms and conditions and this product page for your records.

Apply by post
Apply by Post

Important notes

§ Gross means the interest rate payable before the deduction of income tax.
† AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added each year.

Leeds Building Society is a member of the Building Societies’ Association. The Society is a participant in the Financial Services Compensation Scheme established under the Financial Services and Markets Act 2000. Payments under the Scheme are limited to a maximum payment of £50,000 of an investor's total shares and/or deposits in a society. Most investors are covered, including individuals and small firms. A small number of categories of shares and deposits are not covered, for example deferred shares – permanent interest bearing shares. Although most shares and deposits are denominated in sterling, all other currencies are covered. Further details are available on request from the Society.

The Society is covered by the Financial Ombudsman Service. We may monitor and/or record your telephone conversation with the Society to ensure consistent service levels (including staff training).

Leeds Building Society is authorised and regulated by the Financial Services Authority and our registration number is 164992.

Other taxes or costs may exist that are not paid by Leeds Building Society.

© Leeds Building Society