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Child Trust Fund Issue 4

2.35% tax-free pa/AER variable
(Annual Interest)

Ready to apply?

This account might be right for you if:

  • you have an existing non-stakeholder Child Trust Fund (CTF) with another provider
  • you'd like to transfer it to us to keep saving tax-free until the age of 18
  • you're aged 16 to 18, or applying for a child if you have parental responsibility.

Summary Box

Account name Child Trust Fund Issue 4
What is the interest rate?
Annual Interest 2.35% tax-free pa/AER variable
Interest is earned daily and paid annually the day before the child's birthday.
Monthly Interest: No monthly interest option available.
Can Skipton Building Society change the interest rate?
  • Yes, the interest rate is variable, so it can go up or down, but it's guaranteed to never fall more than 1% below the Bank of England base rate. Any rate changes as a result of this guarantee will take effect 14 days after the Base of England base rate change. To monitor the Bank of England base rate visit
  • Section 22 of our Savings Account Terms and Conditions explains why we may change the interest rate.
  • If there is at least £100 in the account we'll notify you before any drop in the interest rate.
What would the estimated balance be after 12 months based on a £1,000 deposit? The estimated balance after 12 months would be £1,023 assuming that:
  • the account is opened with £1,000 and interest starts being earned straight away
  • no further deposits or withdrawals are made
  • the interest is paid annually and added to the account
  • the interest rate stays the same for the full 12 months.
Estimated balances are for illustrative purposes only.
How do I open and manage my account?
  • This account is only for customers who want to transfer their existing CTF from another provider, and can be opened and managed in branch or by post.
  • You can apply to transfer in to a Skipton CTF if you’re 16 or over. If you have parental responsibility, you can apply on behalf of a child under 16 and you would be the ‘Registered Contact’ and authorised to operate the account. Once the child turns 16 they can apply to become the Registered Contact responsible for managing their Child Trust Fund. In that case the original Registered Contact would no longer be able to operate the account.
  • You can pay in up to the total annual CTF allowance, which is £9,000 for the 2022/23 tax year and begins on the child's birthday each year.
  • Only one child per account and only one CTF per child.
Can I withdraw money?
  • Withdrawals are not allowed until the child is 18, at which point only the child will be able to close the account and withdraw their savings.
Additional information
  • When the child reaches 18, we'll add any interest due to the account and then automatically transfer the money into a Child Trust Fund Matured ISA. If the Registered Contact is not the child, we will write to the Registered Contact in advance to make them aware that the account is due to mature. We will also write to the child with full details of the new account and with any other options available at the time.
  • AER stands for Annual Equivalent Rate and shows what the interest rate would be if interest was paid and added each year.
  • All CTF interest is exempt from Capital Gains Tax and Income Tax and is paid tax-free. Tax rules may change in future.
  • Accounts can be withdrawn from sale at any time and without notice.

Before you apply

Proving your Identity

  • If the account is being opened by or for, someone aged 16 or over please provide the account holder's National Insurance number.

If you are not an existing customer of the Society, we will require identification to open the account. If you are opening an account for a child, we will need identification for both you and the child.

If you're opening the account in branch, please bring proof of ID (for any operator and for the child) as set out in our Proving your identity document [PDF].

If you’re 18 or over and on the electoral roll for your current address we may be able to verify your identification electronically, to do this please call us on 0345 608 0783 and we’ll let you know straight away if you’ve passed our checks. If we can’t verify your identity electronically, or if you're under 18, you’ll need to provide us with proof of ID as set out in our Proving your identity document [PDF].

Terms and Conditions

It is important that you read the terms and conditions carefully. These contain the details of your agreement with us and any charges for these accounts and we will rely on them for our relationship with you.

Application forms

How to apply


Visit your local branch for further information and to open this account.


Return your application form and cheque to:

Customer Delivery
Skipton Building Society
The Bailey
BD23 1DN

If you are not satisfied with our services we have an internal complaints procedure. For more information please call us on 0345 608 0783, ask in branch or visit our Complaints page.

The Financial Ombudsman Service provides a free and independent service for consumers, and can be contacted at The Financial Ombudsman Service, Exchange Tower, London E14 9SR. Telephone: 0800 023 4567.

Financial Services Compensation Scheme

Your eligible deposits with Skipton Building Society are protected up to a total of £85,000 by the Financial Services Compensation Scheme (FSCS), the UK's deposit guarantee scheme.

Learn more about the FSCS

FSCS - Protecting Your Money
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