Yorkshire Building Society recommends CTF banking

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Yorkshire Building Society recommends CTF banking

Wed 2nd Sep 2009

Parents have been told by Yorkshire Building Society that the best way to save for their children's futures is through a child trust fund (CTF).

Chris Edwards, the organisation's head of savings and mortgages, highlighted the cost of studying as a key reason to start saving early, as he noted that it is rising all the time.

In recent research by the building society, it was found that 22 per cent of people saving using a CTF wanted their child to use it for education.

He added: "Parents can have peace of mind that if they save with us, their child can go to university and leave without having a mountain of debt to pay back."

Yorkshire Building Society claimed that their CTF interest yield of three per cent in the first year and 2.3 per cent from then on has the highest return of the main providers that you would find on the high street.

It also recently announced that it would be raising its ISA limits to £10,200 for customers over the age of 50.

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