Best Junior Cash Isa 2014

Published by Rachel Lacey on 27 December 2013.
Last updated on 27 December 2013

Easy access accounts make a great starting point for your children's savings, but if you're worried about them paying tax on their interest, or simply prefer an account that they can't dip in and out of, Junior Isas make a great long term savings vehicle.

Junior Isas are available for all children born after 3 January 2011 or before September 2002 (meaning those who don't have a child trust fund), you can save up to £3,720 into a junior cash Isa the current tax year (rising to £3,840 in 2014/15) without paying any tax on the interest. The child can only access the money when they turn 18.

The winner is the reliable Coventry Building Society. "The account was launched on 5 April 2012 and since then has paid a straightforward rate of 3.25% - no bonus, no complications, just consistency," says judge Anna Bowes, director of

Even though the Halifax Junior Cash Isa only takes the silver medal, it should be the first choice for any children whose parents have an Isa with the bank. Bowes explains: "We simply cannot ignore a rate of 6%, which has been the rate since its launch in February 2012, but in order to achieve that rate the parent also needs to have a Halifax Isa.

"Having said that, Halifax's basic Junior Isa, which doesn't require the adult to have a cash ISA too, also pays a really competitive 3%."


Best Junior Cash Isa 2014

Current rate: 3.25%
Minimum deposit: £1
Contact: 0845 766 5522


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