Press Room

NatWest Encourages More People to Save
(06 April 2005)

With Child Trust Funds 'going live' today, NatWest continues to encourage the saving trend amongst parents by rewarding those who set up a monthly direct debit* to invest an additional amount in their Child Trust Fund account. Once parents set up a direct debit, they will receive a £250 voucher booklet to use on special days out and theme parks.

The NatWest Child Trust Fund is a 'balanced fund' with a mixture of equity and fixed interest elements** developed to provide an optimum mix of reward and risk. Based on the initial £250 voucher and a monthly direct debit of £10.00 the projected return*** after 18 years would be approximately £4252. Alternatively, if parents set up a monthly direct debit for £100 (maximum annual investment of £1200) the projected return over the same period would be £36,724.

All customers who open a Child Trust Fund account with NatWest, irrespective of whether they set up a direct debit or not, double the value of their voucher from Gordon Brown. They will all receive a £250 worth of money-off vouchers to spend at a selection of everyday high street shops, including Toys'R'Us and Adams.

Michael Mather, Head of Child Trust Funds for NatWest, said: "The NatWest Child Trust Fund is a great introduction for parents to start investing for their child’s future and the money off vouchers should be an extra incentive for parents to get started."

Key points of the NatWest Child Trust Fund:

• NatWest provides a simple, value for money, tax free home for CTF savings.
• It is easy for customers to set-up and manage the NatWest CTF.
• Family and friends can contribute additional savings of up to £1,200 a year.
• Customers will be kept regularly informed of how their CTF is progressing.