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

  • Eligibility - Children born between 1st September 2002 and 2nd January 2011 were eligible for the government Child Trust Fund and therefore cannot open a Junior Cash ISA, unless the child was born abroad between these dates and is now a resident of the UK. Although from April 2015, the full balance of a Child Trust Fund can be transferred into a Junior Cash ISA. This can be done at your local branch. You can visit www.gov.uk or the Money Advice Service to find out more about Junior ISAs and Child Trust Funds.
  • Access – 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 - 14 day cancellation period – if you have saved the current year's allowance, you will not lose the allowance for that tax year and can invest it in another Junior ISA
  • Deposits – 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


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