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Junior Cash ISA
A Junior Cash ISA is a long-term, tax-free savings account that is a great way for under 18s to start saving.
Please read the summary box before applying
Summary box for the Junior Cash ISA
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Earn 2.85% AER/tax free variable interest on balances of £1 or more.
Interest is paid each year after you open the account on 31st March.
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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 terms and conditions (PDF, 56KB) explain when and how we do this. For example, we might review the interest rate if the Bank of England base rate changes.
We’re making some changes to our conditions on 02 June 2025. For details, please see our guide to changes (PDF, 80KB).
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For example, if you deposit £1000.00 when you open the account, after 12 months you'll have a balance of £1028.50 after interest is paid.
This assumes:
- you make the deposit on the day you open the account
- you don’t add any more money
- the interest rate stays the same.
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You can open this account:
- online
- in branch
Opening this account for yourself
You can open an account for yourself online or in a branch if you are 16 or 17 years old and are resident in the UK.
You must not already have a Junior Cash ISA or a Child Trust Fund, unless you transfer it to this account. You can do this in a branch.
You need to open the account with at least £1.
Opening this account for a child under 16
The child must be resident in the UK. They must not already have a Junior Cash ISA or a Child Trust Fund. If they do, they can transfer it to this account in branch.
You can open this account for a child if you:
- are 16 years or over
- are resident 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 a branch.
You need to open the account with at least £1.
The account will be in the child’s name.
Managing this account
You can manage the account and view it's balance in a branch.
There’s an annual limit on how much you can contribute to a child’s ISAs each tax year. This tax year, the limit is £9,000. This can be paid into a Junior Cash ISA, a Junior Stocks and Shares ISA, or any combination of the two.
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No. You can't withdraw money from the account until the child turns 18. It can only be closed in special circumstances. You can see these in the terms and conditions (PDF, 56KB).
We’re making some changes to our conditions on 02 June 2025. For details, please see our guide to changes (PDF, 80KB).
All money paid into the account belongs to the child and can't be given back.
If you change your mind, you can cancel the account free of charge within 14 days of opening.
When the child reaches 18, the account will change to an adult Cash ISA Saver. They’ll be able to continue saving tax free and will be able to withdraw money.
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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 with 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 glossary.
Let’s look at the details
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There is a limit on how much you can add to Junior ISAs each tax year. This tax year, the limit is £9,000.
This can be paid into a Junior Cash ISA, a Junior Stocks and Shares ISA, or any combination of the two.
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You can open this account for a child under 16 if you:
- are 16 years or over
- are resident 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 a branch.
You need to open the account with at least £1. Please remember, the account will be in the child’s name.
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Payments can be made into the account at any time by:
- transferring the whole of a Junior Cash ISA account to us
- transferring part or all of a stocks and shares Junior ISA from another provider;
- transferring all the funds held in a Child Trust fund;
- transferring all proceed from the sale of stocks and shares held in a Child Trust Fund;
- paying money into the account at one of our branches with a counter; or
- transferring money into the account from another account.
You can also make regular payments by setting up a standing order.
Please remember, you can’t exceed the annual Junior Cash ISA allowance limit.
Open a Junior Cash ISA
Please read the summary box and the terms and conditions (PDF, 56KB) opens in a new tab before you start.
We’re making some changes to our conditions on 02 June 2025. For details, please see our guide to changes (PDF, 80KB).
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