Junior ISA
- The account can be opened face to face in our Relationship Centres or by post
- A dedicated Junior ISA savings account for children under 18
- Add money any time, up to the £9,000 annual Junior ISA allowance per child.
- No withdrawals allowed until the child turns 18
Our Junior Cash ISA is ideal if you want to build tax-free savings for a child over the long term. You can save regularly or make lump sum deposits, up to the annual Junior ISA allowance, and the interest will be added to the account each year.
The estimated balance after 12 months would be £1,033.00.
This would be the balance if £1,000 is deposited and the annual interest is paid into this account adding to the balance saved. This projection is for illustrative purposes only and does not take into account any changes to interest rates or to your individual circumstances.
Questions we get asked
A Junior ISA is a long-term, tax-free savings account for children under the age of 18 who are resident in the UK. It allows parents or legal guardians to save on behalf of a child, with all interest earned free from UK income tax.
The account is held in the child’s name and the child is the beneficial owner of the funds. The account is managed by the Registered Contact (usually a parent or guardian) until the child turns 18.
Tax Year Account Opened/Funds Deposited Tax-free/AER Variable
2026/27 3.30%
AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added each year.
Interest is paid tax-free on 31 March each year and added to the account, provided the account satisfies ISA regulations.
The interest rate is variable and can change – if it increases, we’ll update our website and, if the rate goes down, we’ll write to you 14 days before it changes.
You can find out more about changes to our interest rates by reading our Savings Terms & Conditions.
The estimated balance after 12 months would be £1,033.00.
This would be the balance if £1,000 is deposited and the annual interest is paid into this account adding to the balance saved. This projection is for illustrative purposes only and does not take into account any changes to interest rates or to your individual circumstances.
No. A Junior Cash ISA can only be opened by a parent or legal guardian who is aged 18 or over, resident in the UK and has parental responsibility for the child.
The account must be opened for a child under the age of 18 who is also resident in the UK. The Junior Cash ISA is held in the child’s name and they are the beneficial owner of the funds.
A child can only hold one Junior Cash ISA at any one time. If they already have a Junior Cash ISA or a Child Trust Fund with another provider, this would need to be transferred before opening this account.
Junior Cash ISAs are for children under the age of 18 who are resident in the UK. You can open a Junior Cash ISA for a child if you are aged 18 or over, resident in the UK and have parental responsibility for the child.
You can open an account with a minimum deposit of £1, either at one of our Relationship Centres or by downloading an application form and returning it to us. You must keep at least this amount in the account to keep it open.
You can pay in up to the full Junior ISA allowance each tax year (currently set at £9,000 per child). You can add to the account whenever you like at a Relationship Centre, by bank transfer, by cheque or by post.
You can also request a transfer in from a Child Trust Fund or another Junior Cash ISA you have with another provider by completing a Junior ISA Transfer or Child Trust Fund request form.
A child can only have one Junior Cash ISA held in their name with any provider. If a Junior Cash ISA or Child Trust Fund is held elsewhere, it must be transferred to this account .
The account matures at the end of the month in which the child’s 18th birthday falls. Thereafter, the account will automatically transfer into our adult Cash ISA, or an equivalent account available at that time. We will contact you nearer the time to update identification and account details.
Interest is paid tax-free on 31 March each year and added to the account, provided the account satisfies ISA regulations.
This means the interest is automatically credited to the Junior Cash ISA and will form part of the balance saved.
The account matures at the end of the month in which the child’s 18th birthday falls. After this, the Junior Cash ISA will automatically transfer into our adult Cash ISA, or an equivalent account available at that time.
We will contact you nearer the time to request any additional information and identification required before transactions can be made on the adult Cash ISA.
From age 16, the child can request to become the Registered Contact and take over the management of their Junior Cash ISA.
The deposits in your Junior ISAs are protected under the Financial Services Compensation Scheme (FSCS).
This means if Scottish Building Society were to cease trading, your money is protected. Find out more by visiting fscs.org.uk
If you want to transfer funds in from an existing ISA or Child Trust Fund with another provider, please complete the relevant transfer authority form.
We're here to help
You can visit us in our Relationship Centres, or call us on 0333 207 4007. Our lines are open 9am - 5pm Monday to Friday (10am - 5pm Wednesday). Calls may be recorded and/or monitored.