Newcastle Junior ISA
Junior ISAs were introduced late 2011 and are available to any child who was not eligible for a Child Trust Fund. You can use them to build a nest-egg for your children which will be given to them once they turn 18.
You may already be saving for your children's future, but if the amount a parent invests means that the child receives more than £100 interest a year, then this interest begins to attract income tax! With a Junior Cash ISA, all the interest earned is tax-free - meaning more for the little one when they're a not-so-little one!
- Open with: £1
- Withdrawals are not permitted until the child’s 18th birthday
- Invest up to: £9,000 for tax year 2022/2023
- Transfers from other JISA providers are permitted
- Apply in Branch
Newcastle Junior ISA
What is the interest rate?
Annual (Variable) 2.00% Tax-free PA/AER
Interest is paid on
Interest is calculated daily and credited to the account on each annual anniversary of account opening.
Can Newcastle Building Society change the interest rate?
We can change the rate of interest payable on this account. The account is a variable rate account which means that the rate of interest paid may change throughout the lifetime of the account. Please refer to section 3 of the Savings General Terms & Conditions which sets out the reasons for which Newcastle Building Society may change the interest and the procedure for doing so.
What would the estimated balance be after the first 12 months of account opening based on a £1,000 deposit?
This projection is provided for illustrative purposes only and does not take into account the customer’s individual circumstances. This projection is based on an initial £1,000 deposit and no further deposits or withdrawals are made.
How do I open and manage my account?
Opening your account
In branch. You can also request product information by calling us.
Giving us instructions for your account
In branch, by post or by telephone.
Minimum Opening Deposit: £1
Maximum Opening Deposit: The maximum investment in one tax year is subject to the Junior Cash ISA allowance. Transfers of previous and current years Junior ISA subscriptions from other Junior ISA providers are also permitted. Transfers are subject to the child not holding 2 accounts of the same type at the end of the transfer process (i.e. stocks and shares or cash JISA).
Maximum Account Balance: No maximum balance.
Can I withdraw money?
Withdrawals are not permitted until the child’s 18th Birthday. Transfers to other Junior ISA providers are permitted penalty free. Partial transfers are not permitted.
Tax status: ISA interest is paid tax-free, which means it’s exempt from income tax. Tax rules may change in the future.