NS&I Junior ISA
What is the interest rate?
3.25% tax-free/AER until 23 November 2020
1.50% tax-free/AER from 24 November 2020
We calculate the interest daily and add it to your account once a year on 6 April.
Can NS&I change the interest rate?
Yes, the rate is variable so we can change it up or down from time to time, for example when the Bank of England base rate
changes or when rates in the general savings market change. See the customer agreement (terms and conditions) for more details.
What would the estimated balance be after 12 months based on a £1,000 deposit?
A £1,000 deposit would be worth £1,032.50 after 12 months, if the interest rate stayed
at 3.25% tax-free/AER (the rate until 23 November 2020) during the 12 months.
A £1,000 deposit would be worth £1,015 after 12 months, if the interest rate stayed
at 1.50% tax-free/AER (the rate from 24 November 2020) during the 12 months.
These are illustrations only, so they don’t take into account your individual circumstances.
They assume that you don’t make any withdrawals or additional deposits during the year.
How do I open and manage my account?
Our Junior ISA is for children aged under 18 who live in the UK. (Children under 18 who live outside the UK can only hold
a Junior ISA if they are a UK Crown servant, or married to or in a civil partnership with a UK Crown servant, or a dependant
of a UK Crown servant.)
For children aged under 16, only their parent or legal guardian can open an account. Children aged 16 or 17 can open their
own account, or their parent or legal guardian can open it for them.
apply for, and manage, a Junior ISA online only
open an account with at least £1, paid by a debit card in your own name, issued by a UK bank
pay in up to the maximum Junior ISA allowance each tax year (£9,000 for 2020/21)
If you’re unable to use our online service due to exceptional circumstances, please call us to discuss your options
If you want to switch to Junior ISA from another NS&I account or investment held in the child’s name:
Download a switching form
Can I withdraw money?
No, you can’t withdraw money from any Junior ISA – they are designed as long-term savings accounts to build up a nest egg
for the child when they reach 18. (The only exceptions are if the child dies or has a terminal illness.)
On the child’s 18th birthday, we’ll automatically transfer the money to an adult cash ISA from NS&I. The child will
then be able to withdraw money. We’ll contact the person who looks after the account about a month before the transfer happens.
The interest earned is tax-free, so it won’t count towards the child’s Personal Savings Allowance.
Find out more about tax and savings
We’ll send you an electronic statement in April each year, showing all your deposits and interest earned.
means the interest is exempt from UK Income Tax.
(Annual Equivalent Rate) illustrates what the annual rate of interest would be if the interest was compounded each time
it was paid. Where interest is paid annually, the quoted rate and the AER are the same.