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Halifax Junior ISA

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Junior ISAs

Junior Ethical ISA

from Legal & General

Regular Savings
  • Investment Options: Invest from £20 pm or from £100 lump sum. The L&G stocks and shares Junior ISA is a great way to help you save for a child or grandchild, up to the annual allowance of £9,000 for the 2020/21 tax year.
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Why we like it: L&G offer a "Future World" range allowing you to invest in funds that don’t just track the market – they seek to make positive change. e.g. The Future Word sustainable Opportunities Fund invests in a wide range of company shares, bonds, property and real assets (including property, land and infrastructure) which meet's L&Gs long term sustainable investment criteria, based on environmental, social and governance factors, while the Future World Climate Change identifies companies that are critical to the shift to a low-carbon economy and are paying special attention to their actions.

Important: Please remember the value of your investment and any income from it may fall as well as rise and is not guaranteed. You may get back less than you invest.

My Select Junior ISA

from Scottish Friendly

Regular Savings
  • Investment Options: Invest from £10 a month or a £50 deposit
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Why we like it: Invest tax-free from £10 a month or a £50 lump sum — or a mix of both. You can raise, lower, stop and restart your payments any time you like. Offers a selection of eight funds to choose from, so you can tailor your child's investment.

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 & Shares ISA

from Fidelity

Regular Savings
  • Investment Options: Fidelity offer Over 140 providers with over 4,000 investment options
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Why we like it: You can tell Fidelity your risk preferences and they will suggest funds for you to consider for your child. You can also use their "Select 50" list of Fidelity's favourite funds. Alternatively If you want to look at all investment options you can use their poweful search tool. Fidelity have a low cost service fee that starts from 0.35% pa.

Special offer:

Invest and get £25 cashback » 

Build your child's savings with a junior ISA and receive £25. Exclusions, T&Cs apply.

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.
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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
Important Risk Information:

This website contains information only and does not constitute advice or a personal recommendation in any way whatsoever. The value of investments and income from them can fall as well as rise and you may not get back the full amount invested. The tax efficiency of ISAs is based on current tax law and there is no guarantee that tax rules will stay the same in the future.

Different types of investment carry different levels of risk and may not be suitable for all investors. Please ensure that you read the Important Risk Information for further details. Prior to making any decision to invest, you should ensure that you are familiar with the risks associated with a particular investment and should read the product literature. If you are in any doubt as to the suitability of a particular investment, both in respect of its objectives and its risk profile, you should seek independent financial advice.

High Income ISAs

High income ISA ideas:

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Cash ISAs

Fixed Rate & Instant Access ISAs:

Cash ISAs: 

Stocks & Shares ISAs

Types of Stocks and Shares ISA include: 

Stocks and Shares ISAs

Latest News

Our Top Picks for Technology Stocks and Shares ISAs

19th January 2021

The tech industry has been booming for the past fifteen years; and it seems to be a rollercoaster that only goes up. The tech bubble has yet to burst, with companies coming out with more and more technological developments and consumer demand is certainly not slowing down. So, for the tech-savvy investor who wants to put their pennies behind this strong growing industry, we’ve put together our top three picks for Technology Stocks and Shares ISAs. 

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