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LLOYDS BANK ISA ACCOUNTSJunior Cash ISA

A long-term, tax-free savings account for children who are happy to have their savings put away until they reach 18


Please read the summary box before applying

At a glance

Interest rate

Features and benefits

Keep in mind

Withdrawals

Access

2.50% tax free/AER variable

  • A long-term, tax-free savings account for children who are happy to have their savings put away until they reach 18
  • Open with just £1
  • ISAs for children have a limit this tax year of £4,260 for new contributions. This can be paid into a Junior Cash ISA, a Junior Stocks and Shares ISA, or any combination of the two
  • Anyone can make payments into the account up to the yearly junior ISA allowance. Payments made into junior ISAs are gifts to the child and can’t be returned, even when the account matures
  • You can also transfer an existing Junior ISA to us
  • Only one Junior Cash ISA can be held for any one child.
  • You must be 16 or over, resident in the UK for tax purposes, and have parental responsibility for the child. If you’re 16 or 17 and resident in the UK for tax purposes, you can open this account yourself
  • You can open your account online or in branch. You can manage and view the balance in branch but not online
  • If you’re transferring a Child Trust Fund, you can only open a Junior Cash ISA in branch
  • Branch

2.50% tax free/AER variable

Features and benefits

  • A long-term, tax-free savings account for children who are happy to have their savings put away until they reach 18
  • Open with just £1
  • ISAs for children have a limit this tax year of £4,260 for new contributions. This can be paid into a Junior Cash ISA, a Junior Stocks and Shares ISA, or any combination of the two
  • Anyone can make payments into the account up to the yearly junior ISA allowance. Payments made into junior ISAs are gifts to the child and can’t be returned, even when the account matures
  • You can also transfer an existing Junior ISA to us

Keep in mind

  • Only one Junior Cash ISA can be held for any one child.
  • You must be 16 or over, resident in the UK for tax purposes, and have parental responsibility for the child. If you’re 16 or 17 and resident in the UK for tax purposes, you can open this account yourself
  • You can open your account online or in branch. You can manage and view the balance in branch but not online
  • If you’re transferring a Child Trust Fund, you can only open a Junior Cash ISA in branch

Withdrawals

Access

  • Branch

Summary box for Junior Cash ISA

1. What is the interest rate?

It’s a variable rate as shown in the table below

Your balanceAnnual interest
Tax free AER
£1+
2.50%
2.50%

  • Your interest is paid annually on 31 March each year.

2. Can Lloyds Bank change the interest rate?

Yes.
As this account pays a variable rate of interest the rate can change over time. For example we might review the interest rate if the Bank of England bank rate changes. We’ll always let you know of any planned changes to the rate. Our terms and conditions explain when and how we do this.


3. What might the future balance be?

Below is an example of what the future balance might be, after interest has been paid:

Initial depositTax free rate Balance at 12 months
£1000.00
2.50%
£1025.00

This example assumes that:

  • You don’t withdraw any money and interest isn’t paid out of the account
  • The interest rate stays the same
  • You make your initial deposit payment on the day you open the account
  • You don’t make any further deposits.

4. How do I open and manage my account?

You can open your account online or in branch. You can manage and view the balance in branch but not online.

Opening this account on behalf of a child under 16

  • You must be over 16, resident in the UK for tax purposes, and have parental responsibility for the child.
  • If opening an account for the child online, you must be living at the same address as them. If you don’t, you can apply in branch.
  • If you’re transferring a Child Trust Fund, you can only open a Junior Cash ISA in branch.
  • You can open this account from £1.

Opening this account if you're aged 16 - 17

  • If you’re 16 or 17 and resident in the UK for tax purposes, you can open this account yourself.
  • You can open this account from £1.

Managing this account

  • ISAs for children have a limit this tax year of £4,260 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.

5. Can I withdraw money from this account?

Closure or withdrawals from any Junior Cash ISA are not allowed until the child reaches 18, except in special circumstances which you can see in the Junior Cash ISA important information.

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


6. Additional information

If you have a Child Trust Fund and want to open a Junior Cash ISA, you’ll have to transfer the full balance into the Junior Cash ISA when you open it.

Tax free is the rate of interest payable to you where your interest is exempt from income tax.

AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year. As every advertisement for a savings product which quotes an interest rate will include an AER, it makes it easier for you to compare what return you can expect from your savings over time.


Apply for a Junior Cash ISA

To set up an account online you’ll need to be over 16 and resident in the UK for tax purposes.

Apply for a child under 16

Apply nowfor a child under 16

Open yourself if aged 16 to 17

Apply nowfor a child aged between 16 and 17

Not the right ISA for you?

With so much choice, take a look at our range of other ISAs to see which might suit you best.

See all ISAs