Junior Cash ISA
A long term, tax free savings account for children who are under 18.
Earn 3.00% tax free/AER variable.
Following the introduction of the Government Junior ISA scheme, we offer a Junior Cash ISA as a long-term tax-free savings account for under 18s.
The account is opened by an adult with parental responsibility if the child is under 16, or by the child if they are aged 16-17.
- Start saving with just £1. Deposits can be made by anyone (subject to annual Junior ISA allowance)
- Unlimited number of deposits – up to £4,080 less any amount paid into a Junior Stocks & Shares ISA in the same tax year
- Interest is paid annually (on 31st March) at a tax free, variable rate
||Junior Cash ISA
|Interest rates (AERs)
3.00% tax free/AER variable
Tax treatment depends on your individual circumstances and may change
|Conditions for bonus payment
||No withdrawals or closure allowed until the child reaches 18
||Open online or make an appointment and open in branch. View your balance and access your account in branch only.
Additional information about the Junior Cash ISA
A Junior Cash ISA can only be opened for children under 16 by a parent or legal guardian aged 16 or over. 16-17 year olds should apply for their own account. All children must be UK residents.
Child Trust Fund holders
Existing Child Trust Fund holders can only apply for a Junior Cash ISA in branch. If you choose to apply in branch, you should call or visit to book an appointment and should bring identification documents. The full balance of the existing Child Trust Fund must be transferred to the new Junior Cash ISA.
Withdrawals or closure from any Junior Cash ISA are not allowed until the child reaches the age of 18, except in case of the child's death or terminal illness. You cannot view this account on your Internet Banking profile.
You can cancel your Junior Cash ISA within 14 days of opening, without charge. If you cancel during this period you will not lose the allowance for the current tax year and you can invest in another Junior ISA.
Deposits made to the Junior Cash ISA by a donor are treated as a gift to the child and therefore cannot be returned to the donor.
When the child reaches the age of 18 their Junior Cash ISA will mature into an adult cash ISA where they can continue to save without paying tax on their existing balances.
Open a Junior Cash ISA today.
You may be asked to visit branch with identification documents. Managing your Junior Cash ISA can only be done in branch.
We recommend you read the account conditions (PDF) carefully as they form a legal contract with us. If there is anything you do not understand, please contact us before you agree to them (as part of the application).