The combination of an attractive interest rate and a passbook makes our Junior Cash ISA ideal for encouraging a savings habit from an early age. Children can open and operate an account themselves from the age of 16, or parents and legal guardians can open and look after an account for a young family member from birth. Ask our team for details.
The Society is required by the Financial Conduct Authority to provide you with certain key information about this account in the form of a Summary Box. You should read this to enable you to make an informed decision and compare our product with those of other providers. Below, you have the option to download and print or save the full summary box, view elements of it one-by-one, or expand the accordion further down this page and view the full product details in one go.
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*Gross rate – the contractual rate of interest to be paid on a savings account without any deduction being made in respect of potential tax liability. **AER - stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.
Junior Cash ISA.
5.50% Gross* / AER**
Interest is calculated daily and added annually on 5th April at close of business.
This figure is for illustration purposes only and assumes no further deposits, transfers in, withdrawals or interest rate changes.
The account can be opened if:
The young person and the person opening the account are resident in the UK.
You pay in at least £1.
The young person does not already hold a Cash JISA or CTF at any other provider.
If you are at least 16 years old
You can open this account yourself or for another young person
If you are opening this account for a person under 16 years old
You must have parental responsibility for that young person
This account can be opened and managed in Branch or via the Post
You can pay in a maximum of £9000 during the tax year 2023/2024. HM Revenue and Customs may change this amount in future years.
The Society will contact you regarding options around the young person’s 18th birthday when the JISA must close and become a Cash ISA.
No, you can not withdraw money from this account until the child turns 18.
When the young person turns 18 the account will change to an adult Cash ISA.
* Gross rate – the contractual rate of interest to be paid on a savings account without any deduction being made in respect of potential tax liability.
**AER – stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.
To apply, please complete the application form below and either call in to our branch or send the completed form with your opening deposit to the Beverley Building Society at 57 Market Place, Beverley, East Yorkshire, HU17 8AA