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Press releaseCHILDREN'S BONUS BONDS: A 'FIRST CHOICE' INVESTMENT, SAYS TOP UK FINANCIAL PLANNER30 October 2002Parents who want to save for their children's future should put their money into National Savings and Investments' Children's Bonus Bonds, according to one of the UK's leading financial planners. Gill Cardy, who won Financial Planner of the Year at the Money Management Financial Planner of the Year Awards this month, says Children's Bonus Bonds are a first choice investment. In a case study report which won her the Financial Planner of the Year award, Cardy said Children's Bonus Bonds would be ideal for a young couple wanting to save money for their young children. In the case study, Jill Lambert, 23, and her partner David Middleton, 24, wanted to provide £7,000 for when each of their children, Rebecca, born June 2000, and Samuel, born June 2002, reach 21 years of age. Cardy, the principal at Professional Partnerships, London, and a certified financial planner, recommended that Jill and David invest in Children's Bonus Bonds, which offer completely tax-free returns at rates fixed for five years at a time. The maximum investment is £1,000 per child per issue. A new issue becomes available whenever NS&I changes interest rates on Children's Bonus Bonds. In her report, Cardy explained that Children's Bonus Bonds can be bought each month to build up a series of investments which can be kept, at new rates of interest every five years, until the child is 21. Gill Cardy, who has recently appeared on television and radio talking about personal finance, said: "Many parents want to put some money aside for their children so they can enjoy a good start to life. "I do think that parents should consider National Savings and Investments' Children's Bonus Bonds as a first choice investment for their children because they currently offer a good tax-free rate of return and provide an additional bonus if the money is invested for the full five-year term." To qualify for bonuses, Children's Bonus Bonds have to be held for the full five-year term. At the end of each term, the Bond can be left to earn a new tax-free rate of interest for a further five years or until the child is 21, when a final bonus is added. Children's Bonus Bonds can be bought by parents or as gifts by people over the age of 16 at any of the UK's 17,000 Post Office branches or by downloading an application form on the NS&I website at www.nsandi.com Customers can also discuss purchasing Children's Bonus Bonds with their financial adviser. The current return (including the fifth anniversary bonus) on Children's Bonus Bonds is 3.65 per cent per annum tax-free compound which is guaranteed when held for five years. Customers can find out more by calling 0845 964 5000, 24 hours a day, 365 days a year. Independent financial advisers can contact NS&I direct on 0845 971 5401 or by e-mailing ifa@nsandi.com. National Savings and Investments was a sponsor of the Financial Planner of the Year Award in the category 'Investing for Children'. ENDS Notes to EditorsNS&I Media information
Gill Cardy 020 7353 9393 gill@professionalpartnerships.co.uk
Media team The numbers below are for media use only. Customers wishing to contact NS&I can find details here.
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