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Leeds Building Society The non-stakeholder Child Trust Fund option offers a simple start to your child’s financial future. The Leeds Building Society CTF Bonus Saver Account is a cash based savings account which provides a risk free home to save for your child’s future. You can top up the account with additional contributions of up to £1,200 each year. This could be with payments as small as a £10 birthday or Christmas gift or you could choose to make a regular monthly payment into the account. Key features at a glance
How much interest will I earn?
Tax free savings There’s no personal tax to pay on any growth in a CTF account and the money your child receives when they are 18 is tax free (provided they are a UK resident at the time). Tax free means free from income and capital gains taxes. What if I change my mind? From the date of account opening, you have 14 days to notify us (in writing) if you are not happy with your choice of account. Please write to Investment Services, The account will only be opened once the 14 day period has expired. Within that period we will, if instructed by you, return the voucher to the Registered Contact. You are not able to cancel a CTF once it is open, you may only transfer to another provider.
What if I have a complaint? We aim to provide a high quality service to customers at all times. Unfortunately mistakes do occur, but when this happens we shall do our best to resolve problems or misunderstandings which arise. Should you need to refer a matter of complaint to us, details of the procedure are available from your local branch or our Customer Helpline. Ultimately your complaint may be referred to the Financial Ombudsman Service. Important notes § Gross means the rate payable before the deduction of tax. † AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added each year. Investments in this account will represent shares in the Society and are subject to the Rules of the Society. Member of the Building Societies' Association. Leeds Building Society is a participant in the Financial Services Compensation Scheme established under the Financial Services and Markets Act 2000. Payments under the Scheme are limited to a maximum payment of £31,700, that is 100% of the first £2,000 of an investor's total shares and/or deposits in a society, and 90% of the next £33,000. Most investors are covered, including individuals and small firms. A small number of categories of share and deposits are not covered, for example deferred shares -permanent interest bearing shares. Although most shares are denominated in sterling, all other currencies are covered. Further details are available on request from the Society. | ||||||||||||||||
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