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. Read the summary box before applying.

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Features and benefits

Earn 2.35% AER/tax free

Earn 2.35% AER/tax-free variable annual interest on balances of £1 or more.

Save up to £9,000

This is the limit across all of the child's Junior ISAs this tax year. Read more about ISA limits.

The savings go to the child

The savings are guaranteed to go to the child. All money paid into the account belongs to the child and can't be given back.

Let's break it down

Who it's for

  • Children 17 years 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. Once you have opened the Junior Cash ISA online you can transfer the account over at a branch.

How it works

  • If you're 16 or 17 years old, you can open this account online.
  • 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. They’ll have full access to all money in the account.

Summary box for the Junior Cash ISA

  • Earn 2.35% 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 £1,000 when you open the account, after 12 months you'll have a balance of £1,023.50 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.

  • You can open this account online.

    Opening this account for a child

    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 at a 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.

    You must live at the same address as the child to open this account online.

    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 its balance at 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.

  • 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). 

    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.

  • Savings terms explained

    Tax-free

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

    AER

    AER stands for Annual Equivalent Rate. Whenever you see an advert for a savings account that 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.

Let’s look at the details

  • 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.

  • 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.

    You must live at the same address as the child to open this account online. 

    You need to open the account with at least £1. 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 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
    • transferring money into the account from another account.

    You can also make regular payments by setting up a standing order.

    Remember, you can’t exceed the annual Junior Cash ISA allowance limit.

Open a Junior Cash ISA

Read the summary box and the terms and conditions (PDF, 56KB) before you start.

 
Lloyds Bank app illustration

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

Open a Junior Cash ISA

Read the summary box and the terms and conditions (PDF, 56KB) before you start.

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

Protecting your money

fscs logo

Protecting your money

The Financial Services Compensation Scheme (FSCS) protects up to £120,000 of the eligible money you hold with us.

More about the FSCS

Savings accounts and ISAs

Browse our latest savings account offers, including options helping you to make the most of your annual ISA allowance.

View our savings accounts

Savings accounts and ISAs

Browse our latest savings account offers, including options helping you to make the most of your annual ISA allowance.

View our savings accounts