Junior ISAs

Junior ISAs explained

A Junior ISA (JISA) is a tax-free savings account for children under the age of 18, introduced by the UK Government in 2011 as a replacement for Child Trust Funds (CTF).

Junior ISAs are available in two different forms: a cash JISA and stocks and shares JISA. A cash JISA works in much the same way as any other type of cash ISA, with providers paying tax-free interest on balances held in the account. This type of ISA will often come with a fixed term, meaning a child won’t be able to access the funds in their account until they turn 18. However, they typically offer variable rates which can change over the duration of the term.

Meanwhile, a stocks and shares JISA is a means of investing in the stock market on behalf of a child. Although this offers the possibility of greater returns, it’s important to remember the value of your investment could fall and that returns aren’t guaranteed.

Parents and guardians can open a Junior ISA for a child under the age of 16, while children aged 16 to 17 are able to open their own account.

After identifying an account you wish to open, simply apply with the provider. Our charts list all the opening methods next to an account. Alternatively, you can filter accounts by opening method by selecting ‘full search’.

A grandparent can only open a Junior ISA for their grandchild if they are their legal guardian. Otherwise, grandparents can contribute to their grandchild’s Junior ISA but not open an account on their behalf.

As of the 2024/25 tax-year, a child can have one cash JISA and one stocks and shares JISA. If you want to open a new account, you’ll need to transfer your existing JISA to a different provider. Read our ISA transfers  guide to learn more. 

Like all ISAs, there’s the annual allowance to bear in mind; this is the maximum amount that can be deposited in Junior ISAs each year. Junior ISAs come with an allowance of £9,000 per tax-year. This means adults can contribute to a JISA without using up any of their own £20,000 ISA allowance.

Anyone can add to a child’s Junior ISA, so long as the total amount paid in across all accounts doesn’t exceed the £9,000 annual limit.

Once a child turns 18, their Junior ISA will automatically become an adult ISA and they’ll have access to any savings in the account. At this point, should they wish to continue holding their funds in an ISA, they may want to shop around for a more favourable interest rate. Use our ISA hub to compare the best ISA rates