Offer ends 29 October 2026. May be withdrawn earlier or extended. Qualifying accounts will remain eligible if opened and all criteria met before withdrawal. Full T&Cs at Junior Cash ISA Key Features and Terms and Conditions [PDF].
Junior Cash ISA
This account might be right for you if you:
- are an adult opening an account for a child under 18 who you have parental responsibility for.
- are aged 16 or 17 and want full control of your account.
- are happy with a variable rate of interest that can go up or down.
- don't need access to your savings before you're 18.
Summary Box
It is important that you read all parts of the Summary Box before you apply.
Account Name
Junior Cash ISA
What is the interest rate?
Balance:
£1+
Annual interest:
3.80% tax-free pa/AER
- This account earns interest daily and it’s added to the account annually, the day before the child’s birthday. There is no monthly interest option available.
- Interest cannot be paid into another Skipton account or any other building society or bank account. Interest due in the first three days of the new tax year may arrive up the three business days later.
Can Skipton Building Society change the interest rate?
- Yes, the interest rate is variable, so it can go up or down.
- Section 8 of our Savings Account Terms and Conditions [PDF] explains why we may change the interest rate.
- If there is at least £100 in the account, we'll notify you in advance if we intend to reduce the interest rate.
What would the estimated balance be after 12 months based on a £1,000 deposit?
Opening balance:
£1,000
Estimated balance after 12 months:
£1,038
The estimated balance above assumes that:
- the account is opened with £1,000 and starts earning interest straight away.
- no further deposits are made.
- the interest is paid annually.
- the interest is added to this account.
- there is no change to the interest rates stated.
Estimated balances are for illustrative purposes only. They may be less for accounts opened by debit card or cheque, because interest won’t be earned until the account receives the deposit.
How do I open and manage my account?
- This account is available to UK residents aged under 18.
- You can apply to open this account yourself if you’re aged 16 or 17.
- Where the child is under 16 years of age, the account must be opened by a Registered Contact. The Registered Contact must be the person with parental responsibility, and they’ll be authorised to operate the account for the eligible child (the child). Once the child turns 16, they can apply to become the Registered Contact responsible for managing their own Junior Cash ISA. In that case, the original Registered Contact would no longer be able to operate the account.
- You can open and manage it in branch or by post. You may be required to set up appropriate security and access measures, and these might differ depending on how you choose to manage the account.
- The minimum opening and operating balance for this account is £1. You must keep at least this amount in the account to keep it open.
- The minimum operating balance must be met for interest to be earned.
- Subsequent payments in can be made from £1.
- You can pay in your total Junior ISA allowance each tax year (currently set at £9,000 per tax year).
- You can also request a transfer in from another Junior ISA you have with another provider.
- The maximum balance for this account is £1 million.
- Joint accounts aren’t allowed.
- Only one Junior Cash ISA can be held in the child’s name at any one time.
Can I withdraw my money?
- Withdrawals are not allowed until the child is 18, at which point only the child will be able to withdraw their savings.
- When the child turns 18, which is known as ‘maturity’, the account will automatically transfer into an easy access Cash ISA for adults which has a variable rate of interest. You can find out more about the maturity process in term 7 of the further terms and conditions.
Additional information
- The Annual Equivalent Rate (AER) shows what the interest rate would be if interest was paid and added each year.
- All ISA interest is paid tax-free, which means it’s exempt from income tax. Tax rules may change in future.
- Accounts can be withdrawn from sale at any time and without notice.
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Proof of identity
You may need to prove your identity - to find out more about this, please read below:
Junior Cash ISA
How to apply
Before you begin
- If the account is being opened by - or on behalf of - someone aged 16 or over, please provide the account holder's National Insurance number.
- If you are not an existing member of the Society, we will need identification to open the account. If you are opening an account for a child, we will need identification for both you and the child.
- Read these documents in full:
Junior Cash ISA Key Features and Terms and Conditions [PDF]
Savings Account Terms and Conditions [PDF]
Ready to apply
As a foster carer, you cannot directly open a JISA for the child in your care. This is because opening a JISA requires legal parental responsibility, which usually remains with the local authority or the child's birth parents.
Children in care may still be able to have a Junior ISA opened for them:
- If a child has been in continuous care for at least 12 months, the government will normally arrange for a Junior ISA to be opened for them (as long as they don't already have a Child Trust Fund). More detail can be found on the government’s website.
- These accounts are managed by a charity called The Share Foundation, on behalf of the Department for Education.
- The government starts the account with a contribution of £200.
While foster carers can't manage the account, they can make payments into it. Family members and local authorities can also contribute, up to the annual Junior ISA allowance of £9,000.
If you'd like to make a contribution or find out more about the child's account, speak to their local authority social worker.
You can also find more information on The Share Foundation website.
You're protected up to £120,000
Your eligible deposits with Skipton Building Society are protected up to a total of £120,000 by the Financial Services Compensation Scheme (FSCS), the UK's deposit guarantee scheme.
