In the 2012-13 tax year (which runs from 6 April 2012 to 5 April 2013) you can save or invest up to £3,600 in a Junior ISA.
Penny says: "Coventry Building Society leads the Junior ISA market with this competitive rate of 3.25%.
"Transfers in can be made from other accounts held with Coventry Building Society and previous Junior ISA allowances."
Nationwide Building Society Smart Junior ISA
Penny says: "Matching Coventry Building Society's Junior Cash ISA (1) rate is the Smart Junior ISA from Nationwide Building Society. "Whilst this account offers a highly competitive rate, it is important to remember that it will fall to 2.10% once the introductory bonus expires on 31 January 2014."
Furness Building Society The Furness Junior ISA
Penny says: "In bronze position is the Furness Junior ISA paying a healthy variable rate of 3.05% for investments of just £1 and over. "Although funds can not be withdrawn until the child turns 18, this deal offers flexibility with payments at the provider's discretion."
Mansfield Building Society Cash Junior ISA (1st Issue)
Penny says: "Also paying a competitive tax-free rate of 3.05% is the Cash Junior ISA (1st Issue). "Interest is calculated on a daily basis and transfers in can be made."
Market Harborough Building Society Junior ISA
Penny says: "Market Harborough's Junior ISA pays a rate of 3.05% for investments of £1, with transfers in accepted. "This account should attract interest from parents, grandparents or family friends looking for a competitive tax-free return."
Skipton Building Society Junior ISA
Penny says: "Savers in the Skipton area will be pleased with this attractive variable ISA which sits comfortably within the top ten best buys. "As well as an appealing rate, this account allows transfers in from previous ISA allowances."
View six best buy Junior ISAs with up to the minute rates - Compare the best Junior ISAs
Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.
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