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NatWest Launches Child Trust Fund
(17 January 2005)

The New Year sees the start of the Government's new savings initiative and to support this, NatWest today launches its new 'stakeholder' Child Trust Fund account. NatWest has developed an account dedicated to encouraging parents to save for their children's future and give them a helping hand financially when they reach adulthood.

From today, the Government will start sending out vouchers worth 250 for each eligible child born on or after 1 September 2002. Parents can apply for the NatWest Child Trust Fund account immediately to ensure the funds are invested from 6 April 2005 when Child Trust Funds become active. 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.

All customers who open a Child Trust Fund account with NatWest will double their value by way of 250 worth of money-off vouchers to spend at a selection of everyday high street shops, including Toys'R'Us and Adams. Those customers who choose to set up a direct debit to invest an additional amount regularly in the Child Trust Fund account will receive a further 250 voucher booklet to use on special days out and theme parks.

Michael Mather, Head of Child Trust Funds for NatWest, said: "It is becoming increasingly important to educate our children about saving for the future. We are pleased to be part of this initiative and have created a product that will serve as a valuable investment for many children. The appetite for such a product has certainly been whetted as we have already had over 10,000 visits to the Child Trust Fund pages of our website."

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.

Child Trust Fund application packs are now available at NatWest branches or by contacting NatWest on 0845 603 0313. You can also apply online at www.natwest.com.

Notes to editors:

The Fund will consist of approximately 55% equity, 43% fixed interest and 2% cash.

Enquiries to:
Media Relations
Tel: 020 7672 1927