Top Ranking Junior ISAs – Intro 


Following up on our recently published top Individual Savings Account (ISA) accounts, AdvisoryHQ News is publishing the below list and comparison of the top Junior ISAs that are available to UK residents.

What Are Junior ISAs?

First, let’s cover the often asked question: What is a Junior ISA?

A Junior Individual Savings Account (Junior ISA) is a tax-free savings account that can be opened for UK residents that are under 18 years of age.

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Parents can deposit up to £4,080, which is the maximum Junior ISA allowance for the 2015–2016 tax year. This amount (and any subsequent deposits) would earn interest and remain tax-free until your child reaches 18 year of age, after which the Junior ISA account is converted into a regular cash ISA or a stocks and shares ISA account.

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Best Junior ISA Rates and Accounts

In the table below, we provide a comparison ranking of the top Junior ISAs offered by a number of providers across the UK.

The information has been sorted based on the best Junior ISA rates offered by each institution.

    Bank

    Account Name

    Rate*

    Details

    Halifax

    Junior Cash ISA

    4.00%

    • Open a Junior ISA account with just £1
    • The 4% rate only applies if the adult/parent that is opening the account holds an existing cash ISA with Halifax or if the child is 16+
    • Halifax Junior ISA accounts that are opened for a child that is 16 years old or younger, with no prior adult cash ISA, will receive a 3% rate

    Nationwide

    Smart Junior ISA

    3.25%

    • Minimum opening balance is just £1
    • Deposit an unlimited number of funds, up to the prevailing Junior ISA limits for 2015/16 (which is £4,080)
    • Deposit funds online, in a branch or via a standing order
    • Manage and monitor your Junior ISA account online, via mobile banking or in-branch
    • Accounts cannot be closed until the child turns 18, but they can be transferred to another provider – if required – at any time

    Lloyds Bank

    Junior Cash ISA

    3.00%

    • Applicable for children under the age of 18
    • Leverage the best ISA rates for transfers and transfer an existing Child Trust Fund in its entirety into a Lloyds Bank Junior Cash ISA account
    • Open the account with a minimum of £1
    • Interest is earned annually on balances as low as £1
    • Withdrawals are not permitted until the child turns 18
    • Any children 16+ can open an account themselves

    TSB

    Junior Cash ISA

    3.00%

    • Open the account with £1
    • Earn interest on balances of as little as £1
    • Anyone can make deposits (of up to the stipulated Junior ISA limit), which are treated as gifts to the child account holder
    • This Junior ISA account will be converted into a TSB Cash ISA Saver (and will be eligible for a bonus) when the child turns 18
    • Allows you to deposit up to £4,080 (subject to available ISA allowances and limits for 2015) for the tax year that ends on 5 April 2016

    Santander

    Junior ISA for 123 World or Santander Select customers

    3.00%

    • Open a Santander Junior ISA for 123 World or Santander Select Customers account with £1
    • Start earning interest with a balance of as little as £1
    • This high interest yielding Junior ISA account rate is offered to select customers of the bank
    • Interest is paid annually
    • You can manage these Junior ISAs via telephone, online or in-branch

    Santander

    Junior ISA

    2.50%

    • Santander’s regular Junior ISA account can be opened with as low as a £1 deposit
    • Interest is paid annually
    • Allows you to manage your account via telephone, online or in-branch
    • This ISA account can only be opened by going to a branch

    Please review our ISA disclaimer for the rates and accounts presented in this article.



    AdvisoryHQ (AHQ) Disclaimer:

    Reasonable efforts have been made by AdvisoryHQ to present accurate information, however all info is presented without warranty. Review AdvisoryHQ’s Terms for details. Also review each firm’s site for the most updated data, rates and info.

    Note: Firms and products, including the one(s) reviewed above, may be AdvisoryHQ's affiliates. Click to view AdvisoryHQ's advertiser disclosures.