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Junior Cash ISA

A tax free account especially for parents or grandparents wanting to save for children, under 18 years of age. Ideal for long term savings, it is a good introduction to the ISA market for a child. You can vary the amount you save while taking advantage of the Junior ISA subscription limit. This account is available to new customers who live, work or study in Bath or whose parent, grandparent or legal guardian have held a mortgage or savings account for at least the last 12 months. Find out more and apply online.

Interest rate
(AER) i
Variable/Fixed i Min/Max amount i Withdrawals i
£1+
2.50%
Variable £1 - max annual allowance Not before 18th birthday

Suitable for savers who:

  • who live, work or study in Bath or whose parent, grandparent or legal guardian has held a Bath Building Society mortgage or savings account for at least the last 12 months
  • want a long-term tax-free savings account for a child
  • are 16 or 17 and want to start saving tax-free for themselves
  • want to manage the account online, by phone or in our Branches and Agencies

Not for savers who:

  • might need access to the money before the child is 18

Summary Box

Key Product Information

What is the interest rate?

  • £1+ 2.50% AER.
  • Interest is calculated on a daily basis and will be credited to the account annually on 31st December.

Can Bath Building Society change the interest rate?

  • The interest rate is variable, which means we may change it to respond to changes in the Bank of England base rate or changes in law, to meet regulatory requirements, or to respond to changes in codes of practice or changes in our costs.
  • We will give you 30 days’ notice in writing before any reduction to the rate is applied.
  • Full details of the reasons why we may change your interest rate can be found in the Terms & Conditions brochure.

What would the estimated balance be after 12 months based on a £1,000 deposit?

  • Based on the current rate of interest, if you deposited £1,000 in this account, after 12 months you would have £1,025.00.
  • This figure is only an estimate, based on there being no additional deposits, withdrawals or rate changes in that time with all interest being added to your account. This figure is for illustrative purposes only.

How do I open and manage my account?

To open an account, simply apply online below or pop in to any Branch or Agency.

  • Available for UK residents only under the age of 18.
  • Applicants must either be able to evidence that they live, work or study in Bath, or be the child or grandchild of an existing Bath Building Society account holder, who has held a mortgage or savings account with Bath Building Society for at least the last 12 months.
  • Minimum opening balance £1.
  • Account holders can operate their account either by post or through a Branch or Agency office.
  • Customers are only allowed to pay in up to the maximum annual allowance each year. The annual JISA allowance for 2021/2022 is £9,000.00.
  • A passbook is issued with this account.
  • You can manage all the accounts you hold with Bath Building Society by registering with Bath Online.

Can I withdraw money?

  • No withdrawals are allowed before the child’s 18th birthday.
  • Account holders will be written to at least one month prior to their 18th birthday as a reminder. In the absence of alternative instructions, on their 18th birthday, the account will automatically be deemed to be an “adult” ISA, and will transfer to an Instant ISA account. Details of the current terms and conditions and interest rate will be provided at that time.

Additional information

  • JISAs are long-term tax-free savings for children, to be opened, operated, and managed by a parent or legal guardian who will be known as the registered contact. The account will be held in the child’s name.
  • Anyone can contribute to the JISA until the child reaches the age of 18, when the operation of the fund will be taken over by the child.
  • The Society will take transfers in from Child Trust Funds.
  • The JISA will have the same tax benefits as the adult Cash ISA, which means that there will be no capital gains tax liability and no further tax on income from the JISA. Tax rules may be liable to change over time and the benefits to your child depend on their individual circumstances.
  • Only one JISA can be held by a customer at any time, and all funds must be held with one provider only. Funds can be transferred between JISA providers.
  • Customers between the ages of 16 and 18 can contribute to either their JISA or General ISA only, in any financial year.
  • Applicants are asked to confirm that they have read the FSCS information and exclusion sheets.
  • This account can be withdrawn from availability to new customers by Bath Building Society at any time and without notice. This is a summary of the key features of the account. You should read both the Savings Accounts and Terms and Conditions brochure to ensure you fully understand how your account works.

Important information before you apply

Before you apply please read our terms and conditions document and FSCS information sheet alongside the key product information above to understand how this account works.

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