Junior Cash ISA

Long-term tax-free savings account for under 18's 6.00% tax free/AER variable if an adult cash ISA is held or child is 16 and over. If an adult Halifax Cash ISA isn’t held, the standard Junior Cash ISA rate (3.00% tax free/AER variable) will apply.

Features & benefitsBear in mindManage
  1. Extra interest if the registered adult holds a Halifax Cash ISA.
  2. For children 16 and over, the higher rate will apply
  3. A long-term, tax-free savings account, for children under 18 who were not eligible for a Child Trust Fund
  4. Deposits can be made by anyone (annual ISA limits apply). As deposits are treated as a gift they cannot be returned to the Donor.
  5. Opening balance of £1
  • Save up to £3,840 until 30 June 2014. From 1st July the annual Junior ISA subscription limit will increase to £4,000 as per the Budget announcement on 19th March 2014. This amount is minus any amount paid into a Stocks and Shares Junior ISA in the same tax year
  • Children that were eligible for a Child Trust Fund cannot open a Junior Cash ISA
  • The account must be opened by an adult with parental responsibility if the child is under 16, or by the child if they are aged 16-17
  • Withdrawals 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 can't view the account on your online banking profile

Branch

Summary box

Account Name Junior Cash ISA
Interest rates (AERs) 6.00% tax free/AER variable if an adult cash ISA is held or child is 16 and over.  If an adult Halifax Cash ISA isn’t held, the standard Junior Cash ISA rate (3.00% tax free/AER variable) will apply.
Tax Status Interest will be paid tax free
Conditions for bonus payment There's no bonus available on this account
Withdrawal arrangements Other than transfers to another Junior ISA, no withdrawals can be made from the account until the child is 18, except in specific circumstances set out in the Halifax Cash ISA conditions and information
Access Open online or make an appointment and open in branch. View your balance and manage your account in branch only.

Your new Junior Cash ISA is minutes away

Open a Junior Cash ISA for a child under 16

Open a Junior Cash ISA for 16 to 17 year olds

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


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).

Useful info

Account interest

  • Variable rate interest means the rate you earn can go up or down
  • Interest paid annually on 5th April, unless 5th April is not a working day, in which case it will be paid the previous working day
  • Relationship interest is paid to accounts where the adult registered contact linked to the Junior Cash ISA already holds a Halifax Cash ISA with a minimum balance of £1. If the adult Halifax Cash ISA balance falls below £1, the account is closed or transferred, the relationship interest rate on the Junior Cash ISA will no longer apply. For children aged 16 and over, the relationship interest rate will automatically apply to the account

Account Maturity

When the child reaches the age of 18 their Junior Cash ISA will mature into an adult cash ISA so they can continue to save without paying tax on their existing balances

Other things to be aware of

  • You can open your account online or in branch but you can only manage and view the balance in branch
  • Withdrawals cannot be made from this savings account until the child turns 18, except in case of the child’s death or terminal illness
  • Opening a Junior Cash ISA affects the amount you can invest in a Junior Stocks and Shares ISA
  • You're only allowed to pay into one Junior Cash ISA
  • 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
  • Please note, we are covered by the Financial Services Compensation Scheme so our customers' savings are protected (up to £85,000).

Eligibility

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 resident in the UK

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 in the UK.

Your new Junior Cash ISA is minutes away

Open a Junior Cash ISA for under 16s

Open a Junior Cash ISA for 16 to 17 year olds

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


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).

Tax treatment depends on your child’s 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, tax free and other terms please view our savings glossary.

Savings

Your new Junior Cash ISA is minutes away

Open a Junior Cash Isa for under 16's

Open a Junior Cash Isa for over 16's

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

You're protected

Your eligible deposits with Halifax are protected up to a total of £85,000 by the Financial Services Compensation Scheme.

Find out more
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