Jun 21 2007
Providers of child trust fund (CTF) savings accounts are offering "great deals" as the base rate of interest continues to rise, according to a report from MoneyExpert.
The base rate of interest has risen four times since August of last year and the changes have prompted a price war among the various CTF providers, the independent comparison service suggests.
However, MoneyExpert advises people looking to make the most of their CTF investments to shop around for the best deal as there are still variations in the levels of interest being offered on these accounts.
"Base rate rises tend to spark a price war with savings accounts and it seems that CTFs will experience a similar boom," said MoneyExpert's chief executive Sean Gardner.
"If you're looking to invest cash for your children, you can get some great deals and no doubt there are more to come," he added.
Earlier this week, the Nationwide Building Society called on chancellor Gordon Brown to make the tax system fairer for people looking to save money for their children's financial future.
