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

Who the Junior Cash ISA is for

  • Children aged 17 or under who are resident in the UK.
  • They must be happy to have their savings put away until they turn 18.
  • Children that have a Child Trust Fund can't also have a Junior Cash ISA but they can transfer the account over in branch.

The benefits of our Junior Cash ISA

  • Earn 3.15% AER/tax free variable interest on balances of £1 or more. 
  • Save up to £9,000 this tax year. This is the limit across all of the child's junior ISAs this tax year. Read more about ISA limits.
  • The savings are guaranteed to go to the child. All money paid into the account belongs to the child and can't be returned. 

How our Junior Cash ISA works

  • If you're aged 16 or 17, you can open this account yourself online or in branch.
  • You can open this account for a child under 16 if you are 16 or over, a UK resident and have parental responsibility for the child.
  • When the child turns 18, the account will change to a Cash ISA Saver in their name and they will have full access to all money in the account. 

Summary box for the Junior Cash ISA

  • Earn 3.15% AER/tax free variable interest on balances of £1 or more.

    Interest is paid each year after you open the account on 31st March.

  • 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.

  • For example, if you deposit £1000.00 when you open the account, after 12 months you will have a balance of £1031.50 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.

  • This account can be opened:

    • online
    • in branch

    Opening this account for yourself

    You can open an account for yourself online or in branch if you are aged 16 or 17 and are resident in the UK.

    You must not already have a Junior Cash ISA or a Child Trust Fund, unless it's transferred to this account. This can be done in 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 aged 16 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 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 branch.

    There is a limit on how much can be added 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.

  • No. You can't withdraw money from the account until the child turns 18. It can only be closed in special circumstances which you can see in the terms and conditions (PDF, 56KB).

    All money paid into the account belongs to the child and can't be returned.

    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 will be able to continue saving tax free and will be able to withdraw money.

  • Savings terms explained

    Tax free means you will not 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 will 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.

Frequently asked questions about our Junior Cash ISA

  • There is a limit on how much can be added 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.

  • You can open this account for a child under 16 if you:

    • are aged 16 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 branch. 

    You need to open the account with at least £1. Please remember, the account will be in the child’s name.

  • Payments can be made into the account at any time by:

    • transferring the whole of a Junior Cash ISA account to us
    • transferring the whole or part of a stocks and shares junior ISA held with another junior ISA provider;
    • transferring all of the funds held in a Child Trust Fund or all of the proceeds 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.


Open one for a child living at your address

You can open a Junior Cash ISA for a child under 16 if you are 16 or over, a UK resident and you have parental responsibility for the child.

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

Open for a child under 16

Open yourself if you're aged 16 or 17

If you're aged 16 or 17 and a UK resident, you can open a Junior Cash ISA yourself online or in branch.

Open an account for yourself

Other ways to apply

You can apply at your nearest branch.

Please note: To apply in branch, you’ll need proof of your own identification as well as the child’s (such as a passport or full birth certificate).

Looking for a debit card for children?

Good money habits for your child start here with Smart Start. Easily pay pocket money into your child’s account to help them get money confident.

  • If your child is aged between 11 to 15, they can get their own bank account and savings account
  • You get full visibility of your child’s account activity through your Mobile Banking app or Internet Banking
  • They get a VISA debit card to shop safely with, and there are no monthly fees or charges
Smart Start Link to Smart Start

Not the right ISA for your child?

Take a look at our range of ISAs to see which suits you.

Our ISA guides

Understand how you can make the most of your tax-free savings with our ISA guides.

Financial Services Compensation Scheme

Eligible deposits held with us are protected up to a total of £85,000 by the Financial Services Compensation Scheme (FSCS), the UK’s deposit guarantee scheme.

FSCS logo