Coventry Junior ISA
Junior ISAs are an initiative by the Government which helps parents save for their children's future. Launched in November 2011, junior ISAs offer tax-free savings and investments. Each eligible child is allowed to have one cash ISA and one stocks and share ISA at any time. Transfers are permitted between cash and stocks and shares junior ISAs, or to another junior ISA provider.
Children who were born between 1st September 2002 and 3rd January 2011 will already have a Child Trust Fund, and are therefore not eligible for a junior ISA but you are able to transfer in to a Junior ISA. Talk to your provider for more details or use our comparison tables to find a provider who will except transfers in.
Coventry Junior ISA Features
The Coventry Building Society is a building society based in Coventry, England. It is the third largest in the United Kingdom with total assets of more than £34.1 billion at 31 December 2015. It is a member of the Building Societies Association.
Coventry offer a Cash ISA for young people which offers a competitive, variable rate of interest.
- Coventry Junior Cash ISAs offer one of the highest rates of interest currently on the market
- Anyone is able to pay in to the account, such as: parents, grandparents, relatives, and friends. Making it an easy way for all the family to be financially involved in a child’s future
- Interest is paid annually every September with one final payment when the child reaches 18
- No one can access or withdraw from the account until the child is 18
Transferring in to a Coventry Junior ISA
You can transfer in to a Junior ISA just like an adult ISA.
Switching is permitted and as long as your check that your current provider accepts transfers-in then it should be just a case of filling in a form.
If you have a Child Trust Fund set up then you’re not allowed to open a Junior ISA as well. However, you can transfer the Trust Fund in to the ISA. Coventry accepts transfers in from Child Trust Funds as well as other ISAs.