Nationwide Child Trust Fund Review

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2.7 stars
Average rating for this product is: 2.7 out of 5

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drewzzr's Review of Nationwide Child Trust Fund

30th Apr 2006

Overall Rating

4.5 stars
  • Value for money
    3.5 stars
Good Points

Good availability of branches on the high street for friends and relatives to pay money in
Web access
Quick and simple to set up, with friendly, knowledgeable staff.
There may be other specialist investment companies offering higher risk and potentially higher growth investment options. However, I see this as a good way to save for my child's future, with potentially good growth which offers security. If it gets my son into the habit of saving for his future, then it has achieved the principal aim.


Bad Points

There may me more "specialist" investment companies which offer higher growth. Nationwide effectively sub contracts its Stakeholder scheme to a third party.


General Comments

I see Nationwide as being a well run, still mutual building society which markets itself well and offers a good range of products, excellent value for money and a branch in every town.

I want my son to develop a relationship with his finances, developing a sense of responsibility for his money and his future. I want good advise on hand as he grows up.

Making potential high risk, high gain investments flys in the face of what I want for my child. I work hard for my money. I would only consider gambling my own long term investments on the open market, not my children's. I have lost out on pensions and share save mortgages in the past due to dubious practices by fund administrators. A CTF has to mean what it says, Child TRUST fund, not Child "sorry your investment has gone down" fund.

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LenderAccountDescriptionInterestAEROverdraft  
Overdraft RateOverdraft Limit
NatWeste-ISAAvailable to existing Natwest Customers Only. The longer you save the more you can earn, save up to £3,600 in a tax year. See site for details.Monthly2.50%N/A
AbbeyDirect ISASave from just £1 to receive 2.00 AER (variable) tax free.Annually2.00%N/A
NatWestCash ISAAvailable to existing Natwest customers only. Transfer your previous years ISA's into this great cash ISA. Earn up to 2.0% AER tax free.Monthly2.00%N/A