Starting strong - How Junior ISAs could help build your child's financial future
Updated March 2026
2 minute read
Starting strong - How Junior ISAs could help build your child's financial future
Updated March 2026
2 min read
It's always better to get a head start. Especially when it comes to saving for a child's future. The longer their money is safely stored in a savings account, the more it’ll grow. As interest is added, their pot will get bigger – ready for when they reach adulthood.
A Junior ISA (or JISA) is an ideal tool to get started. We’ve taken a closer look at how – if you’re a parent or guardian – you could use a JISA to help build your savings for your child’s future.
What is a Junior ISA?
A JISA is a tax-free savings account. It can be set up by a parent or guardian for a child under the age of 18. Anyone can pay into the account, but only the child can access the money once they reach 18.
There are two types of JISA - a Junior cash ISA and a Junior stocks and shares ISA. Your child can have one of each of these JISAs. The value of a Stocks and Shares JISA can fall as well as rise, meaning the child could get back less than what was paid in. At Coventry Building Society, we offer a Junior Cash ISA with a variable rate. Interest is paid and added to the account annually.
How do Junior ISAs work?
If you're a parent or guardian, you can set up a JISA for your child until they turn 17. If your child is 16 or 17, they can open a JISA on their own.
When your child turns 16, they can choose to take over managing their JISA. But they’ll only be able to access their money once they turn 18.
How much can you save in a Junior ISA?
You can save up to £9,000 in a JISA each tax year. This allowance can be split between the two different types of JISA. If the full JISA allowance isn’t used, it can't be carried forward. But the good news is, the allowance resets each year on 6 April.
How much can you save in a Junior ISA?
You can save up to £9,000 in a JISA each tax year. This allowance can be split between the two different types of JISA. If the full JISA allowance isn’t used, it can't be carried forward. But the good news is, the allowance resets each year on 6 April.
When your child turns 18, their JISA will automatically convert to an adult cash ISA. At this point, their tax-free benefit will continue, but their allowance will grow to £20,000* each tax year. Find out more about our Junior Cash ISA product.**
Some key things to remember about Junior ISAs
Whichever type of JISA you choose, the money is locked away until your child's 18th birthday. This helps protect it for them. It means they can use it for important future needs like education, buying a car or a deposit on their first home.
Interest on ISAs is paid tax-free, that is gross with no tax deducted. 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.
Start saving today!
JISAs are a great place to start building that savings pot for your child’s future. Visit our savings page to find out more about our children's accounts and our Junior ISAs.
*Cash ISA limits for adults under 65 are scheduled to change from 6 April 2027. Find out more by visiting the government website.
** Ts&Cs and eligibility criteria apply.
Related articles:
Sunny day savings with cash ISAs
You could make life truly memorable by saving for your sunny days.
It's always better to get a head start. Especially when it comes to saving for a child's future. The longer their money is safely stored in a savings account, the more it’ll grow. As interest is added, their pot will get bigger – ready for when they reach adulthood.
A Junior ISA (or JISA) is an ideal tool to get started. We’ve taken a closer look at how – if you’re a parent or guardian – you could use a JISA to help build your savings for your child’s future.
What is a Junior ISA?
A JISA is a tax-free savings account. It can be set up by a parent or guardian for a child under the age of 18. Anyone can pay into the account, but only the child can access the money once they reach 18.
There are two types of JISA – a Junior cash ISA and a Junior stocks and shares ISA. Your child can have one of each of these JISAs. At Coventry Building Society, we offer a Junior Cash ISA with a variable interest rate. Interest is paid and added to the account annually.
How do Junior ISAs work?
If you're a parent or guardian, you can set up a JISA for your child until they turn 17. If your child is 16 or 17, they can open a JISA on their own.
When your child turns 16, they can choose to take over managing their JISA. But they’ll only be able to access their money once they turn 18.
How much can you save in a Junior ISA?
You can save up to £9,000 in a JISA each tax year. This allowance can be split between the two different types of JISA. If the full JISA allowance isn’t used, it can't be carried forward. But the good news is, the allowance resets each year on 6 April.
When your child turns 18, their JISA will automatically convert to an adult cash ISA. At this point, their tax-free benefit will continue, but their allowance will grow to £20,000* each tax year. Find out more about our Junior ISA product.**
Some key things to remember about Junior ISAs
Whichever type of JISA you choose, the money is locked away until your child's 18th birthday. This helps protect it for them. It means they can use it for important future needs like education, buying a car or a deposit on their first home.
Interest on ISAs is paid tax-free, that is gross with no tax deducted. 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.
Start saving today!
*Cash ISA limits for adults under 65 are scheduled to change from 6 April 2027. Find out more by visiting the government website.
** Ts&Cs and eligibility criteria apply.
Related articles:
Sunny day savings with cash ISAs
You could make life truly memorable by saving for your sunny days.
