01 November 2011
Progressive Launches new Junior Isa savings account.
A new children’s savings account was launched on 1 November 2011 – the Cash Junior ISA.
The Junior ISA is a new tax efficient savings account designed for adults to save on behalf of children. Once parents open a Junior ISA for their child, family and friends are able to make subscriptions up to the annual limit (currently £3,600). A Cash Junior ISA can be opened with as little as £1.
The current gross rate payable on this account is 2.50% (tax free).
Please go to our Cash Junior ISA section under savings for full terms and conditions and details of how to open a new account.