Compare Junior ISA accounts

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Nationwide BS Smart Junior ISA

This Junior ISA account is available to anyone under the age of 16 who didn’t qualify for the Child Trust Fund.

That means they must have been born on or after 3rd January 2011, when Child Trust Fund vouchers stopped being issued, or they were born before 1st September 2002, before the Child Trust Fund was launched.

The account pays a generous fixed rate of 3.25% tax-free until 31st January 2014, but after that the rate reverts to a much lower variable rate of 2.10%, so you may want to move your money to a different provider then.

Parents, grandparents, relatives and friends can pay up to £3,600 each tax year into the account, and it can be opened with a minimum investment of just £1.00. Only one Junior ISA can be held per child.

The money will belong to the child, but they won’t be able to access it until they reach the age of 18, so no withdrawals are permitted.

On opening a Smart Junior ISA you will get access to Smart Rewards, which include offers such as discounted holidays and 2 for 1 days out.

The account can be operated in branch and savers receive a passbook as a record of transactions.

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Skipton BS Junior ISA

This account pays a competitive 3.02% annual interest tax-free and is available to children under the age of 17 who were not eligible for a Child Trust Fund.

The account can be opened with a minimum investment of £1.00 and you can pay in up to £3,600 this tax year. Anyone can pay into the account, not just parents or guardians. No withdrawals can be made until the account holder reaches the age of 18 and the account cannot be closed early either.

You can transfer money held in an existing Junior ISA into this account. You cannot, however, transfer money held in Child Trust Funds into this account. If the rate paid on this account becomes less competitive in future, you can change accounts whenever you like and there are no restrictions on the number of transfers you can make during the life of the account.

Remember that Junior ISA money is held in the child’s name, so they can decide what to spend it on once they reach the age of 18. It cannot be returned to the person making the payment.

This account can only be operated in branches and by post, so it will not suit those who prefer to manage their money online.

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Scottish BS Junior ISA

This cash Junior ISA pays 2.60% annual interest tax-free and is available to children under the age of 16 who were not eligible for a Child Trust Fund.

While this rate is respectable, higher rates of interest are available from alternative Junior ISA accounts.

The Scottish Building Society Junior ISA can be opened with a minimum investment of £1.00 and you can pay in up to £3,600 this tax year. Anyone can pay into the account, not just parents or guardians. No withdrawals can be made until the account holder reaches the age of 18 and the account cannot be closed early either. Interest is added annually on 1st October every year.

You can transfer money held in an existing Junior ISA into this account. You cannot, however, transfer money held in Child Trust Funds into this account. If the rate paid on this account becomes less competitive in future, you can change accounts whenever you like and there are no restrictions on the number of transfers you can make during the life of the account.

Remember that Junior ISA money is held in the child’s name, so they can decide what to spend it on once they reach the age of 18. It cannot be returned to the person making the payment.

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Progressive BS Cash Junior ISA

This Cash Junior ISA pays 2.50% annual interest tax-free and is available to children under the age of 18 who were not eligible for a Child Trust Fund,

While this rate is respectable, higher rates of interest are available from alternative Junior ISA accounts.

The Progressive BS Cash Junior ISA can be opened with a minimum investment of £1.00 and you can pay in up to £3,600 this tax year. Anyone can pay into the account, not just parents or guardians. No withdrawals can be made until the account holder reaches the age of 18 and the account cannot be closed early either.

You can transfer money held in an existing Junior ISA into this account. You cannot, however, transfer money held in Child Trust Funds into this account. If the rate paid on this account becomes less competitive in future, you can change accounts whenever you like and there are no restrictions on the number of transfers you can make during the life of the account.

Remember that Junior ISA money is held in the child’s name, so they can decide what to spend it on once they reach the age of 18. It cannot be returned to the person making the payment.

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Triodos Bank Ethical Junior Cash ISA

 

This cash Junior ISA pays 2.01% annual interest tax-free and is available to children under the age of 18 who were not eligible for a Child Trust Fund.

While this rate is respectable, higher rates of interest are available from alternative Junior ISA accounts. However, Triodos Bank prides itself on being ethical and only lends money to people and organisations making a positive impact - culturally, socially and environmentally. The account is therefore likely to appeal to those with strong ethical values.

The Triodos Bank Junior ISA can be opened with a minimum investment of £1.00 and you can pay in up to £3,600 this tax year. Anyone can pay into the account, not just parents or guardians. No withdrawals can be made until the account holder reaches the age of 18 and the account cannot be closed early either.

You can transfer money held in an existing Junior ISA into this account. You cannot, however, transfer money held in Child Trust Funds into this account. If the rate paid on this account becomes less competitive in future, you can change accounts whenever you like and there are no restrictions on the number of transfers you can make during the life of the account.

Remember that Junior ISA money is held in the child’s name, so they can decide what to spend it on once they reach the age of 18. It cannot be returned to the person making the payment.

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National Counties BS Cash Junior ISA

This cash Junior ISA pays up to 3.01% annual interest tax-free and is available to children under the age of 18 who were not eligible for a Child Trust Fund.

Rates are tiered, so you earn 1.81% on balances of £1.00 up to £999 and 2.26% on balances between £1,000 up to £2,999. Balances of £3,000 and above earn the top 3.01% rate.

The account can be opened with a minimum investment of £1.00 and you can pay in up to £3,600 this tax year. Anyone can pay into the account, not just parents or guardians. No withdrawals can be made until the account holder reaches the age of 18 and the account cannot be closed early either. Interest is added annually on 1st October every year.

You can transfer money held in an existing Junior ISA into this account. You cannot, however, transfer money held in Child Trust Funds into this account. If the rate paid on this account becomes less competitive in future, you can change accounts whenever you like and there are no restrictions on the number of transfers you can make during the life of the account.

Remember that Junior ISA money is held in the child’s name, so they can decide what to spend it on once they reach the age of 18. It cannot be returned to the person making the payment.