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Halifax Junior ISA

The Very Latest Junior ISA Rates
Junior ISAs

Junior Stocks & Shares ISA

from Interactive Investor

Regular Savings
  • Investment Options: Choose from more than 40,000 UK and global investment options for your child's ISA.

Why we like it: ii offer a flat fee service which over time could save you money compared to platform providers who charge on the value of investments held. ii offer ready made funds including their ethical funds which allows you to invest in line with your principles covering environmental, social and governance factors.

Important: The value of your investments can rise as well as fall. You may get back less than you invested. If you’re unsure, we recommend you ask for independent advice.

Junior Stocks and Shares ISA

from Hargreaves Lansdown

Regular Savings
  • Investment Options: Invest from £25 per month or deposits of £100.

Why we like it: Invest for your child from £25 pm tax free. A wide range of top performing funds to choose from. The annual charge for holding investments in a Hargreaves Lansdown Junior ISA is never more than 0.45%. Your dealing and other charges will depend on the investments you choose.

Important: The value of your investments can rise as well as fall. You may get back less than you invested. If you’re unsure, we recommend you ask for independent advice.

Halifax Junior ISA

What is a Junior ISA?

They are an initiative by the government to encourage and help parents to save for their children’s futures. It was launched in 2011 and both tax-free savings and investment ISAs are available.
You’re able to have one of each type of ISA per child and transfers are permitted between the two or to a new provider, much like adult ISAs.

Halifax Junior ISA Review

Halifax is a British bank operating as a trading division of Bank of Scotland, itself a wholly owned subsidiary of Lloyds Banking Group.

This is a Junior Cash ISA so your savings aren’t going to decrease and you’re guaranteed some sort of interest. Junior Investment ISAs carry more risk but may provide better returns.

Features:

  • High variable interest rate
  • Interest paid annually on the 5th April
  • Long term tax-free savings account for under-18s
  • Deposits can be made by anyone
  • Opening balance of £1

Useful to Know

  • If you already hold a Child Trust Fund you can only apply for the Junior ISA in branch
  • The account must be opened by and adult with parental responsibility if the child is under 16
  • You can’t view the account on your online banking profile
  • Withdrawals are not permitted until the child reaches the age of 18

Who Can Open a Junior ISA?

ISAs can be opened by anyone who has parental responsibility for an eligible child. Management of the ISA passes to the child when they turn 16. However, funds remain inaccessible until the child turns 18, after which they can either withdraw the funds, or have their account roll over into an adult ISA. 

It’s worth taking in to account that you no longer have any control over the money once they child receives it and therefore, if you have a specific savings goal for the money in mind then it may be best to open a savings account in your name.

What are the rules surrounding Junior ISAs?

Junior ISAs operate on a similar principle to regular adult ISAs. It's permissible to switch providers, but only one of each type of Junior ISA can be held by each child at a time. Unlike Child Trust Funds, Junior ISAs don't involve any Government contribution. 

Each year there is a Junior ISA allowance. This allowance can either be put into a Junior cash ISA or divided between a Junior Stocks and Shares ISA and a junior cash ISA in whatever proportion you wish. The money will automatically pass to the child when it reaches 18 but no withdrawals are permitted before then.

What are the advantages of junior ISAs?

  • Junior ISAs provide parents, friends and family members with a convenient, tax-efficient way to save for a child's future
  • The money saved in a junior ISA stays tax-free once the child reaches the age of 18
  • The money is locked away until the child turns 18
  • If you want to save an annual amount for your child that generates over £100 in yearly interest, a junior ISA ensures that this interest isn't taxed

GUIDE TO JUNIOR ISAS

Give your child a great start in life

Junior ISAs are a popular way for family and friends to build up tax-efficient savings and investments for eligible children to help them with the cost of university, provide a deposit for a house or simply give them a great start in life.

This guide explains what a Junior ISA is, the rules and:

  • The age limit for Junior ISAs
  • How much can I invest in a Junior ISA?
  • The tax benefits of investing in a Junior ISA
  • Who can open a Junior ISA

Get a FREE Guide to Junior ISAs »

Important Risk Information:

The value of investments can go down in value as well as up, so you could get back less than you invest. It is therefore important that you understand the risks and commitments. This website aims to provide information to help you make your own informed decisions. It does not provide personal advice based on your circumstances. If you are unsure of how suitable an investment is for you, please seek personal advice.

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Stocks & Shares ISAs

Types of Stocks and Shares ISA include: 

Stocks and Shares ISAs

Latest News

5 Considerations for Your Next Investment ISA

15th March 2021

You've decided to invest your savings into a Stocks and Shares ISA. You'll be using your tax-free ISA allowance for this year before the deadline, while also investing your money for your future. But what do you need to consider before opening an account? We've put together a list of our top five considerations for you to think about before you click "apply". 

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