Junior Cash ISA
See your child’s savings grow faster
Please read the Junior Cash ISA Key Features and Conditions before you apply.
Take a look at our rates for new customers
| Advertised tax-free rates |
Interest rates
(Tax free / AER) |
Interest type |
Term / Notice |
Minimum initial deposit |
Interest paid |
| 2.00% |
Fixed |
1 year term |
£25 |
On maturity |
| 2.00% |
Variable |
95 days' notice |
£25 |
Annually |
Junior Cash ISAs are tax-free* savings accounts for children, allowing parents, grandparents, family and friends to save up to £3,720 annually per child in the 2013/2014 tax year.
Features and benefits
• Competitive tax-free interest rates.
• Your interest rate options are flexible. You can start with a variable rate and switch the child’s funds to a fixed rate at any time (you can only fix the rate once in each tax year).
• Top up the Junior Cash ISA during the tax year with no minimum deposit.
• Young adults aged 16 and 17 can maximise their tax-free allowance by opening both a Cash and Junior Cash ISA.
Take a look at our loyaty rates for existing customers
Available to existing customers who opened any type of account on or before 30 June 2012.
| Loyalty tax-free rates |
Interest rates
(Tax free / AER) |
Interest type |
Term / Notice |
Minimum initial deposit |
Interest paid |
| 2.20% |
Fixed |
1 year term |
£25 |
On maturity |
| 2.00% |
Variable |
95 days' notice |
£25 |
Annually |
Apply by post, by phone or in person
Important information:
The total amount you can deposit in a Junior ISA (Junior Cash ISA and Junior Stocks and Shares ISA) in any tax year is limited by Her Majesty’s Revenue and Customs (HMRC). Therefore opening and depositing into a Junior Cash ISA will limit the amount you can deposit into a Junior Stocks and Shares ISA and vice versa.
HMRC does not permit withdrawals before the 18th birthday of the child except for transfer of the whole balance to another Junior ISA provider. If you do want to transfer to another provider please note the restrictions that apply (please refer to our Key Features and Conditions).
A deposit made on behalf of a child into the child’s Junior Cash ISA, which is within the Junior ISA annual allowance, is a gift to the child and cannot be repaid to the depositor at a later date if they change their mind.
* Tax-free is the contractual rate of interest payable where interest is exempt from income tax. The tax treatment depends on your individual circumstances and may be subject to change in the future.
** AER stands for Annual Equivalent Rate; it illustrates what the interest rate would be if interest were paid and compounded once each year and allows you to easily compare different offers.