Child Trust Fund provided by The Childrens Mutual

The ASDA Child Trust Fund explained

The Government gives each newborn child a voucher when their parents register for Child Benefit. This must be used to open a Child Trust Fund account on the child’s behalf. You, your family and friends can make a combined annual contribution of up to £1,200 a year to the child's account.

The Government will make a second contribution when the child is seven, and they're thinking of a further contribution when the child becomes a teenager. Over the years, the sum should grow and, when the child reaches 18, they'll receive a lump sum to help them start their adult life.

Making payments to your child's ASDA Child Trust Fund

You can pay in to the ASDA Child Trust Fund online by Debit Card or set up a regular Direct Debit. Friends and family can pay into the account too, which should help your child's Child Trust Fund grow.

What will a Child Trust Fund do for your child?

It could make a world of difference. Depending on how much you and your family pay in over the years, and on investment performance and the effect of charges, your child could receive over £37,000. Imagine what they could do with a lump sum like that! They could use it to help with their university fees, put a deposit on their first home, set up their own business, or even travel the world - whatever your child decides to do, their ASDA Child Trust Fund could help them on their way.

How to make the most of your child's ASDA Child Trust Fund

By adding small amounts to their ASDA Child Trust Fund on a regular basis, you could give your child a really useful tax-free lump sum at 18. You can invest up to £1,200 a year - and the more you pay in, the more the payout could be.

The ASDA Child Trust Fund is shares based, so the value of the investment could go down as well as up. So, your child could get less than has been invested for them.

But you can rest assured that both ASDA and The Children's Mutual aim to help you do your best for your child's financial future.

ASDA Gift Card when you open an ASDA Child Trust Fund

If you open an ASDA Child Trust Fund and set up a Direct Debit for at least £10 a month, you’ll receive a ASDA Gift Card worth £25. Or, if you just set up an account you'll receive a £5 ASDA Gift Card. You can use this in any ASDA store in the UK - and how you use it is absolutely up to you.

Opening an ASDA Child Trust Fund

Opening an ASDA Child Trust Fund provided by The Children's Mutual couldn’t be easier. You can even apply before you receive the voucher from the Government. You can apply to open an account online or by calling 0845 900 0920. Don't forget to send your child's voucher, once you have it, to The Children's Mutual. You’ll be sent your ASDA Gift Card once the Child Trust Fund is open.

To continue with an earlier application click here