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A Junior ISA is a tax-free savings account that can help you save for your child’s future. You can open a Junior ISA for a child under 16 if you are aged 16 or over and have parental responsibility for them. You can put up to £9,000 into a Junior ISA this tax year.

Junior Cash ISAs are a safe place to save your child’s money. The money will earn interest, but you won’t have to pay any tax on the interest.

About the Clockwise Junior ISA

  • Start your Junior ISA with as little as £1 for members of Clockwise
  • A great annual tax-free rate of 3.00%
  • Make unlimited deposits up to £9000
  • Applications accepted online only
  • Maximum of one account holder per account

The important key facts

  • All UK resident children under the age of 18 who do not have a Child Trust Fund are eligible for Junior ISA’s
  • Under current rules, children with an existing Child Trust Fund account are not permitted to open a Junior ISA and they also cannot switch their Child Trust Fund to a Junior ISA
  • Any income or gains will be tax-advantaged
  • Both cash and stocks and shares Junior ISA’s will be available, but Clockwise only offers the cash JISA, though we can refer you to a suitable stocks and shares JISA. Children can hold up to one cash and one stocks and shares Junior ISA at a time (two accounts in total)
  • There is overarching contribution limit of £9000 per year
  • Accounts are owned by the child and funds will be locked in until the child turns 18. Children have the right to manage their accounts from age 16.
  • Junior ISA accounts will by default become adult ISAs on maturity.
  • There will be no government contributions or matched payments into accounts.
  • There will be no stakeholder Junior ISA account.

To learn more about the Terms and Conditions of Junior ISAs, we could do no better than the Money Saving Expert’s advice.

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