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Child Tax-Exempt Savings Plans

Did you know that Children's Tax-Exempt Savings Plans (TESPs) also provide a long-term, tax-free way to save for your children's future?

Click here to find out more about a tax-efficient way to build up a nest-egg for your child in addition to a Junior ISA, and compare providers.

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Tesco Child Trust Fund Reviews

Average Golden EggNest Ratings from 5 reviews and 1 Comment
(4 out of 5)

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Website: www.tescofinance.com
Good Points: Easy to set up, staff were helpful and friendly. Extra clubcard points. Tesco are a big company and hopefully can be trusted!
Bad Points: None as yet, just hope this fund performs OK!
First reviewed: 06 May, 2009 by Cherry
I read a lot of stuff on the internet regarding ctf's, and to be honest felt a bit blinded by the choice. There seemed to be good and bad for them all! I have chosen this one hoping it will perform well but if it doesnt will switch in a year or two.
Cherry's Golden EggNest Rating (3 out of 5):

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Website: www.tescofinance.com
Good Points: Easy to open easy to contribute well known company
Bad Points: not too happy with the staff over the phone on the few occasions i have phoned requesting information etc they have not been very helpful
First reviewed: 13 May, 2009 by Louise
This account was fairly easy to open and basically involved filling in a form and returning it along with the 250 government cheque. I set up a direct debit for £30 per month into the account. The rates of interest on this account were better than most and there are no hidden charges etc so this is what attracted me to the account. however I was not too happy with the support over the phone, as on the few occasions i have phoned etc the staff have not been very helpful
Louise's Golden EggNest Rating (2 out of 5):

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Website: www.tescofinance.com
Good Points: the staff are so helpful i was unsure at first of havin a child trust fund but now after havinginfo about it i have joined and am happy
Bad Points: there is no bad point
First reviewed: 11 May, 2009 by Cheryl
if anyone is looking to have a trust account i would say this one is one of the best i have come across
Cheryl's Golden EggNest Rating (5 out of 5):

Engage Child Trust Fund Reviews

Engage Child Trust Fund Reviews

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Website: www.tescofinance.com
Good Points: we used the tesco savings website to get our ctf as we felt in this time of financial instability that tesco was a name we could trust. the fact that it is on nearly high street and make such vast profits (over 1 billion in 6 months) means they are unlikely to go bust or disappear. the aplication for the ctf was very easy and they give you some club cards in return too. you dont have to set up a direct debit with this account which is also a bonus.
Bad Points: like the other funds they take 1.5% management fee which i think is a bit unfair.you could probably get just as good a return by putting this money in an isa as the management fee would not then be deducted. however as you cant do this then tesco is still a good bet.
First reviewed: 09 Oct, 2008 by Rich
when looking through the mine field of ct funds it really was a piece of luck to find the myeggnest website. the site is brilliant at comparing on offer and is excellant in giving inpartial advice. obviously reviews like mine are all personal taste and everybody has different ideas of whats important with a ctf. for me what was important was using a trusted name that provided a good return. tesco was not the top performing ctf however i dont think they have been doing ctf's for long. hopefully our son will benifit from a decent growth in this scheme and with this scheme we are able to top up the fund at a later date when hopefully we have some spare cash.
Rich's Golden EggNest Rating (3 out of 5):

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Website: www.tescofinance.com
Good Points: 250 clubcard points are really handy to help with the costs of regular weekly shops and a further 250 clubcard points even better off if you save a small amount each month.
Bad Points: You are tied to Tesco by it being clubcard points and we have had some issues in the past with customer service and complaints handling with Tesco.
First reviewed: 20 Sep, 2008 by Paul
250 clubcard points are really handy to help with the costs of regular weekly shops and a further 250 clubcard points even better off if you save a small amount each month. You are tied to Tesco by it being clubcard points and we have had some issues in the past with customer service and complaints handling with Tesco. There are numerous CTF providers in the market and in terms of product peformance tables it would suggest that tesco is a top provider but perhaps not at the very top at the present time.
Paul's Golden EggNest Rating (3 out of 5):

Commented on 02 Oct, 2008: Sharan
one of the best services i have ever had.the customer service is really great and helpful, they gave me all the advice i needed for the CTF account. The 250 points they offer really helps, with so many products to purchase for my child and all the vouchers they send. it really is worth having the CTF account with them.they know how to help parents look after their children. i dont think i can ever make the wrong choice ith tesco, they have all the answers to my questions and i am happy and sure that my child's money is in safe hands with tesco.i had a great experience and was happy that the staff actually know what they are talking about. i would rate tesco 10/10 for helpfullness, and great customer service.
Sharan's Golden EggNest Rating (5 out of 5):

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MyEggNest's Recommendations

Greasypalm.co.uk
Boost your children and grandchildren's Child Trust Fund and Children's Savings. MyEggNest has teamed up with Greasypalm - the UK's first online rewards programme to pay you in cash, to save for your children's future. It is a free savings club which earns cashback on your shopping from hundreds of different shops.

Selected Retailers:

Mothercare 2% cashback

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Boots 1.75% cashback

Radcliffe & Newlands
Lump Sum Investments

Puzzled by lump sum investing? Get help from qualified investment professionals. Click here for more information.

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Interesting Fact

MyEggNest is giving away a fantastic FREE gift to any Mums and Dads who's got some experience with a Child Trust Fund. Please click here for more infomation.

Unit Trusts for Children

Whatever your children or grandchildren dream of doing when they grow up, why not indulge more than their imagination?

Whether they want to travel the world or step onto the first rung of the property ladder, fund their way through university or organise the wedding of their dreams, you can give them a great start in life by investing for their future with a Legal & General unit trust.

And whether you have a little to invest or a lot, if you start now you could begin to grow a fund that will help you give your child a great financial start in life.

Legal and General's Investing for children

Providers with Unit Trusts for Children
F&C's Investing for children

Tax Exempt Saving Plans (TESPs)

One of the best ways to save for your children's future is the Tax-Exempt Savings Plans (TESPs) from friendly societies. TESPs offer parents a simple way to save up to £25 for each family member per month in addition to, or instead of, a CTF.

TESPs can help you build up a lump sum for any child through small regular payments. You choose when the money is available for them, but the policy must run until they’re at least 16 and run for a minimum of 10 years.

TESPs are available for every member of the household so a family of four could save up to £100 a month tax-free and, provided the TESPs have been set up in the parent's names, the money remains firmly under their control. In addition, the flexibility of TESPs mean that they can be set up to mature at different points in a child's life.

Providers with TESPs
Engage Mutual Assurance

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Request a Jump CTF or Jump Savings Brochure and receive a free copy of Money: Your Children, Their Future by Sarah Hamilton. Click here for more information.

Read Jump Savings Reviews Here

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