National Savings and Investments: Child Trust Fund

HM Treasury written question – answered at on 16 October 2017.

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Photo of Ronnie Cowan Ronnie Cowan Scottish National Party, Inverclyde

To ask Mr Chancellor of the Exchequer, for what reasons National Savings and Investments is closing applications to new customers for its five-year children's bonds.

Photo of Steve Barclay Steve Barclay The Economic Secretary to the Treasury

Children’s Bonds no longer meet the needs of NS&I’s customers. The Junior ISA, with its online access, higher investment limit and the option to migrate to an adult ISA at 18, better meets the needs of child savers today.

NS&I customers who currently hold Children’s Bonds are unaffected and can continue to hold the product until it matures.

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