Junior Cash ISA

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.

Current rates & key features

Balance Interest rate (Tax free/AER variable) effective from 0.00am on 13/02/2012
£1 3.00% Tax free/AER variable
  • A long term, tax free savings account, for children who are under 18
  • Interest is paid annually (on 31st March) at a tax free, variable rate
  • The minimum opening balance is £1, and 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
  • No withdrawals or closure is allowed until the child is 18, except in case of the child’s death or terminal illness
  • 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

We recommend you read the account conditions 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).

Summary box

Account name Junior Cash ISA
Interest rate (AER)

3.00% Tax free/AER variable
Calculated daily
Interest paid annually on 31st March

Tax status Tax free
Tax treatment depends on your individual circumstances and may change
Withdrawal arrangements No withdrawals or closure allowed until the child reaches 18
Access Open online or make an appointment and open in branch. View your balance and manage your account in branch only.

Additional information

Existing Child Trust Fund holders can transfer their account to a Junior Cash ISA. The full balance in the existing Child Trust Fund must be transferred to the Junior Cash ISA as part of the application process, which can only be completed in branch.

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.

Cancellation period
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.

Tax treatment depends on your individual circumstances and may change

Please note: rates of interest are subject to change, to check effective dates for all our savings products please see our interest rates section.

For a definition of AER, gross and other terms please view our savings glossary.

Open a Junior Cash ISA today

 Open for a child under 16

 Open yourself if aged 16 to 17

  1. Find your nearest branch

Please note: You may be asked to visit branch with identification documents and managing your Junior Cash ISA can only be done in branch

Your money is protected by the FSCS

FSCS you are protected.


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