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Cash Junior ISA

Our Individual Savings Accounts (ISAs) provide options to encourage you to save without having to pay tax on the interest you earn. *

How to Apply

4.50 %Tax-free/AER*

  • A variable rate of interest
  • Invest from £1
  • No withdrawals before the child turns 18 years of age
  • Apply in branch or by post
  • Tax-free/AER* - See Jargon Buster

Summary Box

Account name

Cash Junior ISA

What is the interest rate?

4.50% Gross/AER

The interest is paid annually and will be credited to your account after close of business on 1 January.

Can Progressive change the interest rate?

Yes, the rate is variable. We can increase or decrease the interest rate as described in our Savings General Terms and Conditions.

If we are decreasing the interest rate we will notify you at least 14 days before the change takes effect.

Estimated balance after 12 months based on £1,000 deposit


This is an example based on an initial deposit of £1,000 made on account opening and assumes no further deposits are made throughout the year and that the interest rate does not vary during the 12 month period.

How do I open and manage my account?

The account is available to any child under the age of 18 who is resident in Northern Ireland and wasn’t eligible for a Child Trust Fund (CTF), this includes:

  • 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.

There is a minimum lodgement of £1 required to open the account.

You can save up to a maximum of the annual Junior ISA allowance (£9,000 for the current tax year).

The account can be opened and operated at any of the Society’s branches, agencies or by post.

Can I withdraw money?

No, withdrawals are not allowed before the child turns 18 years of age, unless there are extreme circumstances such as death or a terminal illness.

Additional information

AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year. This will enable you to compare more easily the return you can expect from your savings over time.

This is a tax free account which means the interest paid is exempt from income tax.

This rate is correct from 14th August 2023.

For further information refer to the terms and conditions of the account and the terms and conditions contained within the Savings General Terms and Conditions. You can obtain a copy of these documents in the ‘Useful Information’ section below.

How to Apply

Before you apply, please make sure you read the Summary Box, Account Terms and Conditions, Savings General Terms and Conditions and FSCS Information Sheet in full. You can save or print a copy of the PDFs for future reference. These documents contain details of your agreement with us for this account and we will rely on them for our relationship with you.

When you apply for an account with us, we’ll need to verify your identity and address. For details, check our proving your identity page.

In branch

If you open your account in one of our branches we will use an electronic verification system to verify your identity and address. We cannot do this for applicants under 18 or if you are not registered on the electoral roll. In these instances you will be required to provide full identification documentation and these can be found in our leaflet Proving your identity.

Visit your local branch to open this account.

Find your nearest branch
By Post

To open this account by post:

  • review the Summary Box above;
  • read the account terms and conditions and the Savings General Terms and Conditions;
  • review the FSCS leaflet for further information or visit;
  • download and complete the application form;
  • provide appropriate identification - please refer to our Providing Your Identity document.
  • all postal applications require photographic ID and proof of address these must be certified. This can be done by a bank or building society official, councillor, minister of religion, dentist, chartered accountant, solicitor or notary, teacher or lecturer. As long as the person is not related to you, live at the same address or in a relationship with you.
  • return the completed form with your cheque to the branch you want your account opened in.
  • We recommend that you download a copy of the documents and retain for your records.