Junior ISA

A long term tax-free ISA for children under 18

Junior ISA

What you can get?

Eligibility and withdrawal penalties

If you’re opening the Junior ISA for your child:

  • You‘re a UK resident aged 16 
  • Your child is under 18 and a UK resident 
  • You have parental responsibility for the child
  • If the child has a Child Trust Fund or a cash Junior ISA it must be transferred as part of the application

If you’re opening the Junior ISA for yourself:

  • You’re a UK resident aged 16 or 17 
  • If you have a Child Trust Fund or a cash Junior ISA it must be transferred as part of the application


No withdrawals or closures allowed until the account matures on the child’s 18th birthday.

Account name

Junior ISA

What is the interest rate?

 AER/tax-free (variable)

Tier

Junior ISA

Junior ISA for 1|2|3 World or Santander Select customers

£1+

2.75%

3.25%

 

Interest is calculated daily and added to this account annually in March. 

Can Santander change the interest rate?

Yes, the rate can go up or down e.g. in response to industry and market conditions. If the rate goes down, we’ll let you know around 14 days before the rate changes.

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

Account name

Interest earned

Balance after 12 months

Junior ISA

£27.50

£1,027.50

Junior ISA for 1|2|3 World or Santander Select customers

£32.50

£1,032.50

 

Estimates assume that the account is opened and deposit made on 1st March and no change to interest rates.

These illustrations are only examples and don’t take into account individual circumstances.

 

At the end of term

We’ll contact the registered contact around 90 days before maturity and/or the child around 14 days before maturity. At maturity on the child’s 18th birthday, we’ll transfer the Junior ISA to an ISA Saver in the child’s name only, currently paying 0.35% AER/tax-free (variable) for balances of £1+ and 0.60% AER/tax free (variable) for balances of £10,000+.

How do I open and manage my account?

To open the account the child must be:

  • aged under 18; and
  • a UK resident, UK Crown Servant or a dependant of a UK Crown Servant.

For children under 16, account must be opened by a person with parental responsibility for the child (the registered contact).

Children aged 16 or 17 can open and manage the account in their own name or it can be opened by a person with parental responsibility. Joint accounts are not allowed.

To be eligible for the higher interest rate the child or the registered contact must be a 1|2|3 World or a Santander Select customer at point of opening.

 

Opening

  • Visit any Santander branch.

 

Junior ISA transfers

This Junior ISA is a cash Junior ISA. A child can only have one cash Junior ISA and/or stocks and shares Junior ISA at any one time up to their 18th birthday. If a child already has a cash Junior ISA, it must be transferred in full at the point of account opening.

Stocks and shares Junior ISA transfer in are allowed at any time and can be made for the full or partial amount.

You can transfer your cash Junior ISA to another provider at any time, you will need to contact your new ISA provider to arrange this.

A child can’t hold a Child Trust Fund and a Junior ISA (of any type) at the same time. If a child has a Child Trust Fund, it must be transferred in full as part of the application for a cash Junior ISA with us.

If a transfer in request of a Child Trust Fund or a Junior ISA is made, the child and the registered contact on both accounts must be the same.

 

Deposits

There is no minimum deposit required. The Junior ISA limit for the 2019/20 tax year is £4,368. Deposits for the 2019/20 tax year can be made up to and including 5th April 2020.

Save up to the Junior ISA limit into one cash Junior ISA and/or one stocks and shares Junior ISA per tax year.

A tax year runs from 6th April in one year to 5th April the next.

Deposits can be made at any time via standing order, one-off payments or online transfers.

Any money paid into this account is a gift to the child and cannot be repaid. The money in the account belongs to the child and can only be accessed by the child at the age of 18.

This product doesn’t accept additional permitted subscriptions

 

Manage the account

  • Online and Mobile Banking, branch and telephone.
  • A certificate will be issued after account opening.
  • Statements are issued annually in March. We provide you with information about transactions on your account by posting them to Online Banking for you to view at any time. You can also request this information in branch or by calling us on 0800 9 123 123.

The account can only be managed by the registered contact on behalf of the child and all communication will be sent to them.

From the age of 16 the child can take over management of the account without the consent of the registered contact. Once this is done the registered contact status can’t change to another person.

Can I withdraw money?

No withdrawals are allowed until the account matures into an adult cash ISA on the child’s 18th birthday.

Additional information

You can cancel the account within 14 days of opening and your money will be returned in full with interest.

The tax treatment of ISAs depends on your circumstances and may change in the future. 

The cash junior ISA is subject to availability and may be withdrawn from sale at any time without notice. Rates and information correct as at 2 May 2019.

Transferring a Child Trust Fund from another provider

A child can’t have a Child Trust Fund and a Junior ISA (of any type) at the same time so if you’re opening a cash Junior ISA with Santander and have a Child Trust Fund elsewhere, you must request to transfer it to Santander. This must be done at the point you open a cash Junior ISA with Santander in branch, Santander will arrange the transfer in and your Child Trust Fund will be closed.

Transferring a Junior ISA from another provider

You can transfer in balances from existing Junior ISAs held with another ISA provider to a Santander cash Junior ISA. The Junior ISA being transferred in must be held in the child's name.

Transferring in a cash Junior ISA

A child can only have one cash Junior ISA so if you’re opening a cash Junior ISA with Santander and have another cash Junior ISA elsewhere, you must request to transfer it to Santander. This must be done at the point you open a cash Junior ISA with Santander in branch, Santander will arrange the transfer in and your old cash Junior ISA will be closed.

Transferring in a stocks and shares Junior ISA 

A child can have one cash Junior ISA and one stocks and shares Junior ISA. If you’re opening a cash Junior ISA with Santander and have a stocks and shares Junior ISA elsewhere, you can choose to keep your stocks and shares Junior ISA or you have the option to request to transfer it to Santander at any time. This can be done by completing the form below. Alternatively, you can request the form by phone on 0800 328 1 328* or in your nearest Santander branch

Please consider the following before deciding to transfer your Junior ISA to us

We don't charge a transfer fee but other providers may.  If you are transferring in a cash Junior ISA, the full amount must be transferred in. For stocks and shares Junior ISA transfers in, you can choose to transfer in the full amount or a partial amount. Santander does not provide advice as to whether transferring your Junior ISA(s) is right for you.

Stocks and Shares Junior ISA Transfer Form (pdf)

Once you have completed the Stocks and Share Junior ISA Transfer Form, please send to the following address.

ISA Customer Services
PO Box 1112, 
9 Nelson Street 
Bradford, BD1 9NR

* Lines are open 8am to 6pm Monday to Friday and 8am to 4pm Saturdays. View our call charges

Everything you need to know before you apply
 

We recommend reading the information in the documents below before you apply. You may like to save or print them so you can refer to them in the future.

Key documents

This account also comes with

Online and Mobile Banking with text and email alerts
Access to the Santander branch network
Telephone Banking