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Child Trust Fund -
Cash Savings Account

Transfer your Child Trust Fund balance to Yorkshire for a competitive, variable rate of tax-free interest

This could be right for you if:

  • you have an existing Child Trust Fund account
  • you are looking for less risk than a Stakeholder account
  • you want to open an account in one of our branches

3.00%

tax-free p.a./AER variable,

including 0.70% bonus for 12 months

Key Features

  • Only open to customers with an existing Child Trust Fund cash or stakeholder account
  • Enjoy an introductory bonus rate of 0.70% for the first 12 months (a limited offer that may be withdrawn at any time)
  • Save up to £4,080 each account year, with parents, grandparents and friends all able to make deposits as well as you and your child
  • Receive a Passbook you can use to pay money in at any of our branches or agencies
  • Pay money in by standing order or by post if that’s easier
  • Add to your account when it suits you as there’s no minimum deposit required
  • Get a competitive, variable rate of tax-free interest, paid annually on the night before your child’s birthday (please note, interest cannot be paid into another account)
  • Receive statements annually - normally within 5 working days of the child’s birthday
  • Once your child turns 18 and we’ve verified their identity, they’ll get access to their funds via an easy-access account

Did you know?

If you’re looking for the potential of a higher level of growth for a certain level of risk, a Stakeholder Account may be more suitable for your child.

Why choose the Yorkshire?

  • We were voted ‘High Street Savings Provider of the Year’ in the 2013 Consumer Moneyfacts Awards
  • We’ve attracted over 3.5 million members, making us the second largest building society in Britain
  • 97% of our savings customers would recommend us (source: YBS Customer Satisfaction Survey Jan 2012 - Dec 2012)
  • We continue to offer local people a personal service in places where other banks and building societies are pulling out
  • We don’t have external shareholders to answer to - we’re owned by our customers
  • Being a mutual means we can put you at the heart of everything we do - which is how we provide great value products and a service you'll want to recommend
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Summary Box

Key Product Information for our Savings Account

Account Name Child Trust Fund - Cash Savings Account
Interest rates (AERs) Variable rate paid annually,
View interest rates.
Tax Status Tax-free
Conditions for bonus payment Introductory bonus paid for the first 12 months the account is open
Withdrawal arrangements

None allowed until child's 18th birthday.

Access
  • In branch

Please note

  • Interest is paid gross, i.e. without tax being taken off, on all our savings accounts - except ISAs where it is paid tax-free. Whether you need to pay tax is dependent on your own personal circumstances and so may be subject to change in the future.

Trust Accounts - Important tax information

  • It may be possible to reclaim tax deducted from an account held in trust directly from HM Revenue & Customs by completing a R40 form. Further information and a link to this form can be found using the following link: HMRC R40 Form.
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Interest Rates

Child Trust Fund - Cash Savings Account

Current rates - Effective 29 March 2009

Annual - Including introductory bonus*

Balance (£) Tax-free AER
£10 and above 3.00% 3.00%

*Paid for the first 12 months the account is open. This introductory offer may be withdrawn at any time

Annual - Excluding introductory bonus

Balance (£) Tax-free AER
£10 and above 2.30% 2.30%
 

 

Please note

  • Interest rates are variable, paid annually.
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How to apply

Before you apply

A Child Trust Fund Cash Savings Account can only be opened and managed in one of our branches or agencies.

When you apply for an account with us, we’ll need to verify your identity and address .

Book an appointment

To visit us in branch or request a phone call, enter a town, city or postcode and select a branch of your choice.


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Call us

Speak to one of our friendly advisers and we will send you an application pack in the post.

8am - 8pm: Mon to Fri

9am - 1pm: Sat

0345 1200 100*

By post

We will send you what you need in the post to get you started.

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Not ready to apply yet?

Save for later

If you would like to look at this page again later, enter your email address and we will email you a link to this page.

Book a savings review

To ensure that you have the right account for whatever you're saving for, why not visit us in branch for a savings review? Book an appointment at one of our branches.


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