It's a savings plan available for children who received a government voucher to invest into a child trust fund account when they were born.

You can top up the initial investment in many different ways and your child will receive the money on their 18^th birthday.

It's a great way to give your child a head start when they come to buy their first car, head to university or move out of home.

Children born between 1 September 2002 and 3 January 2011 are eligible for the plan as they automatically receive a government voucher.

The government voucher is used to start the plan and you can then top up the fund by saving regularly or making one off payments.

The cash payout is tax free so you don't need to worry about the tax man taking a bite out of your child's money when they reach 18.

Our Child Trust Fund allows you to choose one of three investment funds.

Guaranteed Cash Fund

The Guaranteed Cash Fund is the safest as there's no risk of losing any money. The money is invested in cash deposit accounts so your child is guaranteed to get back at least all of the money that's been paid in plus the interest added (minus the annual charge for managing the account). The drawback is that this type of fund usually delivers a lower return than a share-based fund.

Cautious Managed Fund

If you're looking for something that may earn more than a cash based fund and are happy to accept some risk with your child's money, the Cautious Managed Fund could be the option for you. It invests in a mix of investment types giving you a balance of better growth potential with the protection of lower risk investments. Whilst you may get a better return in the long run, the drawback is there are no guarantees and the value of the investment can go up or down. Therefore your child could get back less than has been paid in.

Balanced Growth Fund

If you're happy to take a little more risk for a better chance of an even higher return, the Balanced Growth Fund could be your perfect choice. It is similar to the Cautious Managed Fund as it invests in a mix of investment types with more emphasis on the high risk investments. This gives your child's investment an even better chance of growing but also has more risk. Whilst you may get an even better return in the long run, the drawback is there are no guarantees and the value of the investment can go up or down. Therefore your child could get back less than has been paid in.

It is very difficult to predict exactly what you'll get back as your child's payout will depend on the performance of the fund you choose to invest in and the performance of the financial markets.

We don't pay set interest rates for the Child Trust Fund.

You can save anything up to the yearly annual limit, which is currently £1,200, in addition to the government voucher amount.

Anyone can make payments so you have the flexibility to get grandparents, relatives and friends involved in saving for your child's future.

Children born between 1 September 2002 and 3 January 2011 who received a government voucher are eligible for a Child Trust Fund.

If your child isn't eligible for our Child Trust Fund, we also provide another flexible saving option called the Children's Bond which lets you save on a regular basis.

Your child's cash payout is tax-free when they reach 18 so you don't have to worry about the tax man taking a bite or unnecessary paperwork.

The application process is simple and takes no more than a couple of minutes when you apply online. You'll need your voucher number ready to hand when you apply and your Direct Debit details if you want to set up regular payments.

Additional checks

To comply with money laundering regulations, we sometimes have to carry out an online identity check with a reference agency when you apply.

The agency will add a note to your credit record to show that an identity check has been made. We won't share this information with anyone else and it won't affect your credit rating.

We'll send you a statement each year which will show the performance of your child's fund so you'll be able to keep track of everything.

You can also contact us if you'd like an update in between your statements.

The fund is only accessible by the child when they reach their 18^th birthday. So you can't take any money out once it has been paid in.

If you are looking for a savings plan that gives you full control, take a look at some of our other savings and investment options. These products can be opened in your own name giving you full control over your savings unlike the Child Trust Fund where the child takes full control at 18.

> Regular Savings plan

> Guaranteed ISA

The government website www.childtrustfund.gov.uk has plenty of information about Child Trust Funds.

We can help you with all your savings and investment needs. If your child doesn't qualify for our Child Trust Fund, or you have other children you want to save for, then take a look at our Children's Bond

> Children's Bond

If you are looking for a savings plan that gives you full control, take a look at some of our other savings and investment options. These products can be opened in your own name giving you full control over your savings.

> Regular Savings plan

> Guaranteed ISA