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With the 2019/20 allowance allowing you to save or invest up to £4,368, Junior ISA accounts are designed specifically as savings products for under 18s. These accounts are tax-free up to a maximum deposit per tax year and cannot be accessed until the child is 18.  If you would like more information on Junior ISA accounts and this year's allowance read our guide below.

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Coventry BS Logo
Coventry BS Junior Cash ISA (1) FSCS logo
FSCS logo
AER
3.60%
Account Type
Cash Junior ISA
Notice / Term
Age 18
Interest Paid
Yearly
Opening Account
Not Available Online Available At Branch Available By Mail Not Available By Telephone Not Available By Mobile
Managing Account
Not Available Online Available At Branch Available By Mail Not Available By Telephone Not Available By Mobile
Rates
Access
Information
Opening Restrictions
ISA Information
Additional Information

Rates

Rate 3.60% paid at £1
AER 3.60% paid at £1
Rate Type Variable Rate
Interest Paid Yearly
Interest payment Interest must be compounded
Min Opening Amount £1
Max Investment £0
Introductory bonus N/A

Access

Withdrawals Allowed
Early Access Allowed
Access Note
N/A
Further Additions Allowed
At the end of the fixed term
Your provider will write to you before the account matures. If you don’t give them any instructions, the money in the account will be paid into a variable rate account

Information

Min Age 0
Max Age 17
Taxation
Interest is paid tax free

Opening Restrictions

N/A

ISA Information

Transfer Out Penalty Details -
Transfers In - Cash JISAs
Transfers In - Stocks & Shares JISAs
Transfers In - Child Trust Fund
Transfer Notes -
Split ISA Allowance Between Different ISAs With Same Provider

Additional Information

N/A
Danske Bank Logo
Danske Bank Junior Cash ISA FSCS logo
FSCS logo
AER
3.45%
Account Type
Cash Junior ISA
Notice / Term
Age 18
Interest Paid
Yearly
Opening Account
Not Available Online Available At Branch Not Available By Mail Available By Telephone Not Available By Mobile
Managing Account
Available Online Available At Branch Not Available By Mail Available By Telephone Available By Mobile
Rates
Access
Information
Opening Restrictions
ISA Information
Additional Information

Rates

Rate 3.45% paid at £25
AER 3.45% paid at £25
Rate Type Variable Rate
Interest Paid Yearly
Interest payment Interest must be compounded
Min Opening Amount £25
Max Investment £0
Introductory bonus N/A

Access

Withdrawals Allowed
Early Access Allowed
Access Note
N/A
Further Additions Allowed
At the end of the fixed term
Your provider will write to you before the account matures. If you don’t give them any instructions, the money in the account will be paid into a variable rate account

Information

Min Age 0
Max Age 17
Taxation
Interest is paid tax free

Opening Restrictions

N/A

ISA Information

Transfer Out Penalty Details -
Transfers In - Cash JISAs
Transfers In - Stocks & Shares JISAs
Transfers In - Child Trust Fund
Transfer Notes -
Split ISA Allowance Between Different ISAs With Same Provider

Additional Information

N/A
Darlington BS Logo
Darlington BS Junior Cash ISA FSCS logo
FSCS logo
AER
3.25%
Account Type
Cash Junior ISA
Notice / Term
Age 18
Interest Paid
Yearly
Opening Account
Not Available Online Available At Branch Available By Mail Not Available By Telephone Not Available By Mobile
Managing Account
Not Available Online Available At Branch Available By Mail Not Available By Telephone Not Available By Mobile
Rates
Access
Information
Opening Restrictions
ISA Information
Additional Information

Rates

Rate 3.25% paid at £1
AER 3.25% paid at £1
Rate Type Variable Rate
Interest Paid Yearly
Interest payment Interest must be compounded
Min Opening Amount £1
Max Investment £0
Introductory bonus N/A

Access

Withdrawals Allowed
Early Access Allowed
Access Note
N/A
Further Additions Allowed
At the end of the fixed term
Your provider will write to you before the account matures. If you don’t give them any instructions, the money in the account will be paid into a variable rate account

Information

Min Age 0
Max Age 15
Taxation
Interest is paid tax free

Opening Restrictions

N/A

ISA Information

Transfer Out Penalty Details -
Transfers In - Cash JISAs
Transfers In - Stocks & Shares JISAs
Transfers In - Child Trust Fund
Transfer Notes -
Split ISA Allowance Between Different ISAs With Same Provider

Additional Information

N/A
National Savings & Investments Logo
National Savings & Investments Junior ISA Depositor Protection logo
Depositor Protection logo
AER
3.25%
Account Type
Cash Junior ISA
Notice / Term
Age 18
Interest Paid
Yearly
Opening Account
Available Online Not Available At Branch Not Available By Mail Not Available By Telephone Not Available By Mobile
Managing Account
Available Online Not Available At Branch Not Available By Mail Not Available By Telephone Not Available By Mobile
Rates
Access
Information
Opening Restrictions
ISA Information
Additional Information

Rates

Rate 3.25% paid at £1
AER 3.25% paid at £1
Rate Type Variable Rate
Interest Paid Yearly
Interest payment Interest must be compounded
Min Opening Amount £1
Max Investment £0
Introductory bonus N/A

Access

Withdrawals Allowed
Early Access Allowed
Access Note
N/A
Further Additions Allowed

Information

Min Age 0
Max Age 17
Taxation
Interest is paid tax free

Opening Restrictions

N/A

ISA Information

Transfer Out Penalty Details -
Transfers In - Cash JISAs
Transfers In - Stocks & Shares JISAs
Transfers In - Child Trust Fund
Transfer Notes -
Split ISA Allowance Between Different ISAs With Same Provider

Additional Information

N/A
Santander Logo
Santander 123 Junior ISA FSCS logo
FSCS logo
AER
3.25%
Account Type
Cash Junior ISA
Notice / Term
Age 18
Interest Paid
Yearly
Opening Account
Not Available Online Available At Branch Not Available By Mail Not Available By Telephone Not Available By Mobile
Managing Account
Available Online Available At Branch Not Available By Mail Available By Telephone Available By Mobile
Rates
Access
Information
Opening Restrictions
ISA Information
Additional Information

Rates

Rate 3.25% paid at £1
AER 3.25% paid at £1
Rate Type Variable Rate
Interest Paid Yearly
Interest payment Interest must be compounded
Min Opening Amount £0
Max Investment £0
Introductory bonus N/A

Access

Withdrawals Allowed
Early Access Allowed
Access Note
N/A
Further Additions Allowed
At the end of the fixed term
Your provider will write to you before the account matures. If you don’t give them any instructions, the money in the account will be paid into a variable rate account

Information

Min Age 0
Max Age 17
Taxation
Interest is paid tax free

Opening Restrictions

Available to 123 World or Select Customers

ISA Information

Transfer Out Penalty Details -
Transfers In - Cash JISAs
Transfers In - Stocks & Shares JISAs
Transfers In - Child Trust Fund
Transfer Notes -
Split ISA Allowance Between Different ISAs With Same Provider

Additional Information

N/A
TSB Logo
TSB Junior Cash ISA FSCS logo
FSCS logo
AER
3.25%
Account Type
Cash Junior ISA
Notice / Term
Age 18
Interest Paid
Yearly
Opening Account
Not Available Online Available At Branch Not Available By Mail Not Available By Telephone Not Available By Mobile
Managing Account
Not Available Online Available At Branch Not Available By Mail Available By Telephone Not Available By Mobile
Rates
Access
Information
Opening Restrictions
ISA Information
Additional Information

Rates

Rate 3.25% paid at £1
AER 3.25% paid at £1
Rate Type Variable Rate
Interest Paid Yearly
Interest payment Interest must be compounded
Min Opening Amount £1
Max Investment £0
Introductory bonus N/A

Access

Withdrawals Allowed
Early Access Allowed
Access Note
N/A
Further Additions Allowed
At the end of the fixed term
Your provider will write to you before the account matures. If you don’t give them any instructions, the money in the account will be paid into a variable rate account

Information

Min Age 0
Max Age 17
Taxation
Interest is paid tax free

Opening Restrictions

N/A

ISA Information

Transfer Out Penalty Details -
Transfers In - Cash JISAs
Transfers In - Stocks & Shares JISAs
Transfers In - Child Trust Fund
Transfer Notes -
Split ISA Allowance Between Different ISAs With Same Provider

Additional Information

N/A
Tesco Bank Logo
Tesco Bank Junior Cash ISA FSCS logo
FSCS logo
AER
3.15%
Account Type
Cash Junior ISA
Notice / Term
Age 18
Interest Paid
Anniversary
Opening Account
Available Online Not Available At Branch Not Available By Mail Available By Telephone Not Available By Mobile
Managing Account
Available Online Not Available At Branch Not Available By Mail Available By Telephone Available By Mobile
Rates
Access
Information
Opening Restrictions
ISA Information
Additional Information

Rates

Rate 3.15% paid at £1
AER 3.15% paid at £1
Rate Type Variable Rate
Interest Paid Anniversary
Interest payment Interest must be compounded
Min Opening Amount £1
Max Investment £0
Introductory bonus N/A

Access

Withdrawals Allowed
Early Access Allowed
Access Note
N/A
Further Additions Allowed
At the end of the fixed term
Your provider will write to you before the account matures. If you don’t give them any instructions, the money in the account will be paid into a variable rate account

Information

Min Age 0
Max Age 17
Taxation
Interest is paid tax free

Opening Restrictions

N/A

ISA Information

Transfer Out Penalty Details -
Transfers In - Cash JISAs
Transfers In - Stocks & Shares JISAs
Transfers In - Child Trust Fund
Transfer Notes -
Split ISA Allowance Between Different ISAs With Same Provider

Additional Information

N/A
Halifax Logo
Halifax Junior Cash ISA FSCS logo
FSCS logo
AER
3.00%
Account Type
Cash Junior ISA
Notice / Term
Age 18
Interest Paid
Yearly
Opening Account
Available Online Available At Branch Not Available By Mail Not Available By Telephone Not Available By Mobile
Managing Account
Not Available Online Available At Branch Not Available By Mail Not Available By Telephone Not Available By Mobile
Rates
Access
Information
Opening Restrictions
ISA Information
Additional Information

Rates

Rate 3.00% paid at £1
AER 3.00% paid at £1
Rate Type Variable Rate
Interest Paid Yearly
Interest payment Interest must be compounded
Min Opening Amount £1
Max Investment £0
Introductory bonus N/A

Access

Withdrawals Allowed
Early Access Allowed
Access Note
N/A
Further Additions Allowed

Information

Min Age 0
Max Age 17
Taxation
Interest is paid tax free

Opening Restrictions

N/A

ISA Information

Transfer Out Penalty Details -
Transfers In - Cash JISAs
Transfers In - Stocks & Shares JISAs
Transfers In - Child Trust Fund
Transfer Notes -
Split ISA Allowance Between Different ISAs With Same Provider

Additional Information

N/A
Cumberland BS Logo
Cumberland BS Cash Junior ISA FSCS logo
FSCS logo
AER
2.75%
Account Type
Cash Junior ISA
Notice / Term
Age 18
Interest Paid
Yearly
Opening Account
Not Available Online Available At Branch Not Available By Mail Not Available By Telephone Not Available By Mobile
Managing Account
Not Available Online Available At Branch Not Available By Mail Available By Telephone Not Available By Mobile
Rates
Access
Information
Opening Restrictions
ISA Information
Additional Information

Rates

Rate 2.75% paid at £50
AER 2.75% paid at £50
Rate Type Variable Rate
Interest Paid Yearly
Interest payment Interest must be compounded
Min Opening Amount £50
Max Investment £0
Introductory bonus N/A

Access

Withdrawals Allowed
Early Access Allowed
Access Note
N/A
Further Additions Allowed
At the end of the fixed term
Your provider will write to you before the account matures. If you don’t give them any instructions, the money in the account will be paid into a variable rate account

Information

Min Age 0
Max Age 17
Taxation
Interest is paid tax free

Opening Restrictions

Locals (Cumbria (all CA & LA), SW Scotland (all DG & TD9), W Northumberland (NE45 - NE49), N Lancashire (all PR, FY, LA & BB1-2 & BB5-7).)

ISA Information

Transfer Out Penalty Details -
Transfers In - Cash JISAs
Transfers In - Stocks & Shares JISAs
Transfers In - Child Trust Fund
Transfer Notes -
Split ISA Allowance Between Different ISAs With Same Provider

Additional Information

N/A
Family Building Society Logo
Family Building Society Cash Junior ISA (1) FSCS logo
FSCS logo
AER
2.75%
Account Type
Cash Junior ISA
Notice / Term
Age 18
Interest Paid
Yearly
Opening Account
Not Available Online Available At Branch Available By Mail Not Available By Telephone Not Available By Mobile
Managing Account
Not Available Online Available At Branch Available By Mail Available By Telephone Not Available By Mobile
Rates
Access
Information
Opening Restrictions
ISA Information
Additional Information

Rates

Rate 2.00% paid at £1, 2.50% paid at £1K, 2.75% paid at £3K
AER 2.00% paid at £1, 2.50% paid at £1K, 2.75% paid at £3K
Rate Type Variable Rate
Interest Paid Yearly
Interest payment Interest must be compounded
Min Opening Amount £1
Max Investment £0
Introductory bonus N/A

Access

Withdrawals Allowed
Early Access Allowed
Access Note
N/A
Further Additions Allowed
At the end of the fixed term
Your provider will write to you before the account matures. If you don’t give them any instructions, the money in the account will be paid into a variable rate account

Information

Min Age 0
Max Age 17
Taxation
Interest is paid tax free

Opening Restrictions

N/A

ISA Information

Transfer Out Penalty Details 45 day notice.
Transfers In - Cash JISAs
Transfers In - Stocks & Shares JISAs
Transfers In - Child Trust Fund
Transfer Notes -
Split ISA Allowance Between Different ISAs With Same Provider

Additional Information

N/A

Select a Savings Category

Note

Eligible deposits with UK institutions are protected by the Financial Services Compensation Scheme up to a maximum level of protection of £85,000 per person per institution.

Disclaimer

All rates subject to change without notice. Please check all rates and terms before investing or borrowing.

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Still not sure?

Read all Savings and ISA guides
guide icon
Junior ISA loophole for 16 and 17-year-olds

Junior ISA loophole for 16 and 17-year-olds.

Read More
guide icon
How to transfer a Child Trust Fund (CTF) to a Junior ISA (JISA)

So, the question is: Should you transfer and what are the benefits or drawbacks involve?

Read More
guide icon
Savings accounts for children

Savings accounts for children.

Read More
guide icon
A guide to children's savings accounts

Read this guide and find out more about saving for your children or grandchildren.

Read More

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Junior ISAs – your questions answered

Leanne Macardle

Leanne Macardle

Editor
Published: 06/12/2018

At a glance

  • Junior ISAs offer a tax-free way for you to save for your child’s future.
  • Once the funds are in a Junior ISA, they can only be accessed by the child when they reach the age of 18.
  • A child can hold only one cash Junior ISA and one stocks and shares Junior ISA at the same time.
  • Child Trust Funds can be transferred to Junior ISAs without penalty.

Below we've compiled some common questions about how this scheme works. We hope you find this information useful.

Is my child eligible?

Your child is eligible to open a new Junior ISA if they don't have a Child Trust Fund (CTF) and are under the age of 18. If your child is a UK resident and born between 1 September 2002 and 2 January 2011, they should be enrolled in the CTF scheme (a CTF will have been opened by the Treasury on their behalf if you did not use the Government voucher sent to you). However, old CTFs can be transferred to Junior ISAs, giving you plenty of options.

Under current rules, CTF holders will also be able to open a cash ISA at the age of 16 and have the same dual allowance as Junior ISA holders.

Will the Government contribute to my child's ISA like they did for Child Trust Funds?

No, the Government will not make any contributions into your child's Junior ISA.

Who offers Junior ISAs?

Banks, building societies, friendly societies and other financial providers offer Junior ISAs.

Who can open a Junior ISA?

A Junior ISA can be opened by anyone with 'parental responsibility' for a child or, if your child is between 16 and 18, they can open their own.

Grandparents can't open a Junior ISA for their grandchildren (unless they have parental responsibility for the child). However, grandparents will be able to contribute to the account once it is opened.

How much can we pay in?

You can save or invest up to £4,368 into a Junior ISA in the 2019/20 tax year (which runs from 6 April to the following 5 April). 

Can the money be accessed?

Money in your child's Junior ISA can only be accessed by the child once they turn 18.

What happens to the Junior ISA when my child turns 18?

The account becomes an adult ISA, preserving its tax-efficient status.

Can we invest in stocks & shares for our child?

Your child can hold one cash and one stocks & shares Junior ISA at any one time.

You can choose how you allocate money between the two, so long as you don't exceed the total annual limit.

Other than the annual cap there is no limit on how you choose to save – you could place the entire allowance in a stocks & shares Junior ISA, although you then couldn't place any money in a cash Junior ISA in that tax year (or vice versa).

Will we be able to transfer to a different Junior ISA later on?

Yes you will, although your child will only be able to hold one cash and one stocks & shares Junior ISA at any one time.

Can we transfer our child's CTF into a Junior ISA?

Yes, from April 2015 Child Trust Funds can be transferred to Junior ISAs.

How much can our child expect to have by the time they turn 18?

How much your child's nest egg will be worth will depend on:

  • Where you choose to place their money
  • How much you put into the Junior ISA
  • The rate of return you get.

Remember that any funds placed in investments can fall as well as rise in value.

Can my child manage their own Junior ISA?

Until the child reaches 16, those who have parental responsibility for the child will need to manage the ISA. Once the child reaches 16, they can start to manage their own pot (although they can't make any withdrawals until they are 18).

At the age of 16 you can open an adult cash ISA; can my child have both?

Yes. Between the ages of 16 and 18, your child can have a Junior ISA and an adult cash ISA. Under the 2018/19 ISA limits, that means they can have £24,260 between a Junior ISA and an adult cash ISA (£24,368 in 2019/20)

At 18, the Junior ISA becomes an adult one, and your child will be able to save or invest up to the adult ISA limits only.

Pros and Cons of Junior ISAs

  • Your child won’t pay any tax on the interest they earn on funds in a Junior ISA.
  • It enables parents, grandparents and others a way to save for a child’s future knowing the funds can’t be accessed until the account holder’s 18th birthday.
  • With the option to hold one cash Junior ISA and one stocks and shares Junior ISA per child, you can split the maximum amount you can invest every year, in order to diversify when cash and stocks and shares.
  • Neither you nor the child can access the funds for any reason before their 18th.
  • Once they are 18, you have no say over how they use their savings!

Why choose an ISA over a children's savings account?

ISAs pay interest tax-free. When your child becomes a taxpayer or they earn more than their Personal Savings Allowance, their savings interest may get taxed. By putting it in an ISA, a child's savings pot becomes shielded from taxation.

Junior ISAs can't be accessed until your child turns 18, so they will only have access to their cash at an important time in their lives – to help get through university or to start driving, for example. Children’s savings accounts, in contrast, could be accessible earlier. For a more comprehensive comparison between child savings accounts and Junior ISAs, why not check out our guide on savings accounts for children?

Best Junior ISA Rates
Provider AER Account Type Notice / Term Min Investment
Coventry BS Logo Coventry BS Junior Cash ISA (1) 3.60% Cash Junior ISA Age 18 £1
Danske Bank Logo Danske Bank Junior Cash ISA 3.45% Cash Junior ISA Age 18 £25
National Savings & Investments Logo National Savings & Investments Junior ISA 3.25% Cash Junior ISA Age 18 £1
TSB Logo TSB Junior Cash ISA 3.25% Cash Junior ISA Age 18 £1

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