The ASDA child savings accounts available are Child Trust Funds. Child Trust Funds are savings accounts that can be set up for children born after September 1st 2002. Every child born after this date and receipt of child benefit is given a £250 voucher by the Government, and can invest it into a Child Trust Fund. Many bank and building societies now offer child trust funds, including ASDA. Benefits of an ASDA Child Trust Fund include:
- Provided in partnership with Engage Mutual Assurance which has over 26 years experience in children's investments
- Once your voucher has arrived from the Government, you can open the fund straight away
- After the account is open, you get a FREE ASDA gift card
The Government also provides each child with a further £250 at the age of seven, and anyone can put money into a child trust fund, so parents, grandparents, aunts and uncles can help your child save for the future.