Apr 16 2008
Supermarket giant Asda has launched a child trust fund (CTF) product that offers parents a way to save regularly for their offspring's financial future.
The CTF has been introduced in association with the Children's Mutual and can be opened by application either via the internet, over the phone or by filling out a form at one of Asda's stores.
Parents and other family members can add to a child's fund and as an added incentive, Asda is offering £25 gift vouchers that can be spent in its stores to people who set up a direct debit that commits them to making regular CTF contributions.
Gev Lynott, Asda's financial services director, said: "Through our partnership with the Children's Mutual, we offer customers the ability to build a financial head start for their children's future in a reliable and fruitful investment."
In related news, the latest figures from HM Revenues & Customs showed that record contributions were made to individual saving accounts in the first three quarters of the recently ended tax year.
