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Junior Cash ISA

Our Junior Cash ISA is a long-term, tax-free savings account. A great way for kids under 18 to save for the future.

Features and benefits

2.85% AER/tax free

Earn 2.85% AER/tax-free variable annual interest. See summary box for details.

Save up to £9,000 this tax year

This is the limit across all of the child's ISAs for the tax year. Payments are gifts to the child and can’t be returned.

Open online with as little as £1

You also can transfer a Junior ISA or Child Trust Fund in a branch.

Let's break it down

Who it's for

You can open a Junior Cash ISA for a child if:

  • they're a resident in the UK,
  • they don't already have a Junior Cash ISA or a Child Trust Fund.

You must be 16 or 17 if you are opening a Junior Cash ISA for yourself, or 16 or over if you are opening the account for a child 15 or under for whom you have parental responsibility.

How it works

  • Ideal for kids who are happy to have their savings put away until they reach 18.
  • The money is locked away until they turn 18.
  • On the child’s 18th birthday, the account will change to an adult ISA Saver Variable.

Summary box for Junior Cash ISA

  • 2.85% AER/tax free variable on balances £1 or more.

    It's a variable interest rate. It will be paid after each year on 5 April.

  • Yes. As this account pays a variable rate of interest it can change over time. We’ll always let you know of any planned changes to the rate. Our account conditions (PDF, 210KB) explain when and how we do this. For example we might review the interest rate if the Bank of England base rate changes.

  • For example, if you deposit £1,000.00 when you open the account, the balance after 12 months will be £1,028.50.

    This assumes:

    • You make the deposit on the day you open the account.
    • You don't pay more money into the account.
    • You don’t withdraw any money or interest.
    • The interest rate stays the same.

  • Opening this account for a child under 16

    • You must be 16 or over, resident in the UK, and have parental responsibility for the child.
    • If you live at the same address as the child, you can open the account online. If not, you can apply in branch.
    • You can transfer a Junior ISA to this account in branch.
    • You can open this account from £1.

    Opening this account if you're aged 16 - 17

    • You can open an account for yourself online or in branch. You need to be resident in the UK and provide your National Insurance number, if you have one.
    • You can transfer a Junior ISA to this account in branch.
    • You can open this account from £1.

    Managing this account

    • ISAs for children have a limit this tax year of £9,000 for new contributions in a tax year. This can be paid into a Junior Cash ISA, a Junior Stocks and Shares ISA, or any combination of the two.
    • You can manage the account and view its balance in branch.

  • No. You can't take out money until the child turns 18.

    You can't close it early, except in special circumstances, which you can see in the account conditions (PDF, 210KB).

    When the child reaches 18, the account matures to an adult cash ISA where the child can continue to save tax free.

  • Savings terms explained

    Tax free means you won't pay income tax on your interest.

    AER stands for Annual Equivalent Rate. Whenever you see an advert for a savings account which shows an interest rate, you'll see the AER. This means you can use the AER to compare accounts. It shows what the interest rate would be if your interest was paid and compounded once each year.

    For more definitions, view our savings glossary.

Open a Junior Cash ISA

You should read the summary box and the account conditions (PDF, 210KB) before you apply.

 

It's simple in the app

Scan the QR code to get it.

You must be registered for online banking to apply in the app.

Once you’re in, select Apply, Savings then Junior Cash ISA.



Apply online

Whether you're an existing customer or not, you can apply on our website.
 

Open for a child under 16

Open for yourself

It's simple in the app

You must be registered for online banking to apply in the app.

Once you’re in, select Apply, Savings, then Junior Cash ISA.

Get the app

Apply online

Whether you're an existing customer or not, you can apply on our website.
 

Open for a child under 16

Open for yourself

Let’s take a closer look

  • The Junior ISA allowance for this tax year is £9,000. This can be paid into a Junior Cash ISA, a Junior Stocks and Shares ISA, or a combination of both. When the next tax year starts on the 6th April, your allowance will reset and you’ll be able to pay in another £9,000.

  • You can open a Junior Cash ISA for a child under 16 if you:

    • are aged 16 or over
    • live in the UK
    • have parental responsibility for them.

    If you live at the same address as the child, you can open the account online. If not, you can apply in branch.

  • You can make regular payments into the ISA by setting up a standing order. You can also make one-off payments from one account to another.

    You can also:

    • Transfer another Junior Cash ISA account to us. Find out how to transfer an ISA.
    • Transfer the whole or part of a Junior Stocks and Shares ISA held with another provider.
    • Transfer funds held in a Child Trust Fund.
    • Pay money into the account at one of our branches with a counter.

    Remember, you can’t pay in more than the annual junior ISA allowance limit.

Protecting your money

FSCS logo


The Financial Services Compensation Scheme (FSCS) protects up to £85,000 of the eligible money you hold with us.

More about the FSCS



Protecting your money

FSCS logo

The Financial Services Compensation Scheme (FSCS) protects up to £85,000 of the eligible money you hold with us.

More about the FSCS

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