The future's nicer with the Junior ISA
Our Junior Cash ISA is a great way of saving tax-free^, for children under the age of 18.
- Invest from £1 to £3,720 in the Junior Cash ISA in the 2013/2014 tax year
- Anyone can pay money into a Junior Cash ISA - parents, grandparents, other family members and friends
- Earn a great variable rate of 3.25% tax-free^ p.a./AER*
- Although all the money saved in the Junior Cash ISA belongs to the child, there is no access to the money until the child reaches 18 years of age~
- Interest is paid annually to the account on 30 September and finally when the child reaches 18
The Junior Cash ISA can be opened for any child under the age of 18, provided they were not eligible to have a Child Trust Fund** and they do not already have a Junior Cash ISA with another provider. The child must also be a UK resident.
Please read the Junior Cash ISA opening guide for further information about opening the account for a child.
*AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added each year. The gross rate is the interest rate payable before the deduction of tax.
~Funds saved in a Junior Cash ISA can only be withdrawn in exceptional circumstances, such as a terminal illness of the child.
^Interest on ISAs is paid tax-free, that is gross with no tax deducted.
**Child Trust Funds were available to all eligible children from 1 September 2002 until 2 January 2011.
Junior ISAs are a savings scheme initiated by the Government and are subject to change by them. For example, the favourable tax treatment may not be maintained.