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Tesco Junior ISA

The Very Latest Junior ISA Rates
Fixed Rate Cash ISAs

1 Year Triple Access Cash ISA

from Nationwide

Interest Rate (AER) 0.25%
  • Term: 1 Year, with option to make three free withdrawals
  • Make up to three withdrawals during the 12-month term of this account
  • Open with £1 or transfer in existing ISA funds
  • Manage your account online
  • Interest paid at maturity
  • FSCS Protected
  • Must be UK resident and aged 16 or older
  • Make more than three withdrawals and the rate drops to 0.01% AER/gross p.a. (variable)
  • Not available in branch

Calculate your interest with this plan

Your savings:
£
You could gain:
£0.00 (per tax year)

Tesco Junior ISA

A Junior Cash ISA is a simple, affordable way to save for your child’s future if they don’t have a Child Trust Fund. The money in the ISA belongs to the child, who can then withdraw it when they reach 18.

You are able to save up to £4,128 tax free in the 2017/18 tax year, this is the combined total for a Junior Cash ISA and a Junior Stocks and Shares ISA.

Tesco offer:

  • A competitive interest rate
  • Low minimum deposit, you can open your account with just £1
  • Ability to manage the account with online and telephone banking
  • Ability to make deposits whenever you want 

Who Can Open an Account?

Anyone with parental responsibility for a child can open a Junior ISA. So if you're a parent or guardian of an eligible child, you can open a Junior Cash ISA for them.

Other people can save into your child's account as well such as grandparents, other relatives and friends. However, the total savings in the Junior ISAs must not exceed the annual limit for that tax year.

A young person aged 16 or over can open an account themselves but will not be able to do this online.

If you’ve already subscribed to a Junior Cash ISA, then you will only be able to open another if you transfer all of your subscriptions from the existing provider, to the new provider. Your ISA provider may charge a fee to transfer funds.

Children with a Child Trust Fund are not eligible for a Junior Cash ISA but are able to transfer their Trust Fund in to a Junior ISA.

How Transferring Works and What you Can Transfer

A child may only have one Junior Cash ISA at any time or also have a Junior Stocks and Shares ISA alongside. However, it’s possible to transfer all of the money in an existing Junior Cash ISA to another Junior Cash ISA providing the existing account is then closed.

If you want to move your money from a Junior Cash ISA with another provider to Tesco, you can do this by using the ISA transfer process. The process is far quicker and easier than in previous years and simply involves filling in a form.

You are able to transfer:

  • All, but not part, of the funds saved in an existing Junior Cash ISA to a new Junior Cash ISA
  • All or part of the funds in a Junior Cash ISA saved in a previous tax year to a Junior Stocks and Shares ISA
  • All of the money held in a Junior Cash ISA to a Junior Stocks and Shares ISA, then a new Junior Cash ISA can be opened

Some providers may have restrictions or charge a fee on transfers, so you should always check this with them before transferring money to or from another provider.

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.

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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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