Britannia boosts baby fund

Britannia Building Society has increased the rate on its non-stakeholder Child Trust Fund (CTF) to a whopping 7.15% in a bid to win over parents looking for a wise investment.

Savings research from the Building Society's Association (BSA) shows that half of savers and 23 per cent of non-savers, ranked a higher rate of interest as the most important factor when investing. As such this 0.40% increase from Britannia should attract those parents keen to give their children the best possible financial start in life.

Neville Richardson, Britannia Group Chief Executive, said; "It is important that parents recognise the value of CTFs and invest vouchers swiftly and wisely to ensure the maximum return.

"Savvy parents could use spare child beneft and financial gifts from friends and family to regularly top up and make full use of this market leading rate. What's more, CTF account holders with Britannia will also benefit from our unique Membership Reward scheme - boosting their balances even further."