Cash Junior ISA
This account is only available to existing members or new customers resident in Northern Ireland.
The Junior ISA (JISA) is a new tax free savings account, which allows you to save on behalf of a child.
- Minimum opening balance of £1.
- Maximum investment of £3,720 in the 2013/2014 tax year.
- Account is available to any child under the age of 18 who is resident within the UK and wasn’t eligible for a Child Trust Fund (CTF):
- children born on or after 3 January 2011.
- children born on or before 31 August 2002.
- children born on or between 1 September 2002 and 2 January 2011 and who didn’t qualify for a Child Trust Fund.
- Account is held in the name of the child but opened and managed by a parent or someone with parental responsibility.
- Eligible children over the age of 16 will be able to open JISAs for themselves.
- Anyone can contribute to a child’s JISA.
- Interest paid gross (no deduction of basic rate tax).
- No withdrawals are allowed before the child reaches 18 years of age.
Cash jUNIOR ISA - Interest Rates
Balance from
(£) | Balance to
(£) | AER/Gross
% p.a. | Net Equiv.
% p.a. |
|---|
| 1.00 | 3720.00 | 2.50 | Tax - free |
AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.
Tax free means the rate of interest payable where the interest paid is exempt from income tax.
Your Next Step & How to apply
You can find out further information on this Cash Junior ISA by reading the specific Account Terms & Conditions together with the Savings Service Agreement.
Please read both carefully as they set out your rights and obligations in your dealings with us. These documents can be found in the Related Links section.
If you would like to open a Cash Junior ISA account you can apply either in one of our branches or you can download an application form using the image on the right. For further information on opening an account please see the documents Opening A New Progressive Account and Proving Your Identity in the Related Links section.
If at any time you require assistance or have a question about opening an account you can reach us by using the Contact Us form or by calling the number in the Help Section.