Claire is an experienced financial analyst with strong analytical skills. With her expertise and focus on thorough market research, Claire ensures individuals in the financial landscape are well-informed. Often in an engaging writing style, her content helps traders quickly grasp the market dynamics. As an Associate Editor of financial news at InvestingGuide, she provides an original analysis of the financial markets and economy. You’ll be at joy reading her flawlessly written content. She has written hundreds of pieces that simplify complex financial topics in plain language.
Fact checked
Advertising Disclosure
We may receive compensation from our partners for placement of their products or services, which helps to maintain our site. We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn’t influence our assessment of those products.
In the UK, Junior ISAs come in two different forms, including cash Junior ISAs and Stocks and Shares Junior ISAs. The former comes with interest rates on your savings, while the latter offers returns on your investment. Any child below 18 years is eligible for this tax-free account for as long as they do not have a Child Trust Fund. As a parent or guardian, you can open a Junior ISA for your child using the best online provider. Before you do, we are here to help you understand more about Junior ISAs and answer some of the questions that may be hindering you from saving for your child. Note that InvestingGuide experts have decades of experience in the financial landscape. We only share what we believe will positively impact your activities based on multiple tests and comparisons.
One of the best decisions you can make as a parent is saving for your child’s future. By opening a Junior ISA (JISA), you can save up to £9,000 annually. With no tax deductions, the cash is locked away until your child turns 18 years old to start using it.
Note that many Junior ISAs are widely available from banks, credit unions, brokerage firms, and building societies. This makes it challenging for Britons to choose the leading options in the UK. Fret not, though, for we have conducted extensive market research and share below what we believe are the best. If you want to start saving for your child, our guide also helps you understand what a Junior ISA is, tips on choosing the best, and more.
List of the Best Junior ISA Providers
- Coventry BS – Overall Best Junior ISA Provider in the UK
- Loughborough BS – Best Junior ISA Provider For Newbies in the UK
- Skipton BS – Best Junior ISA Provider With Quality Support
- Stafford BS – Cheapest Junior ISA Provider in the UK
- Nottingham Building Society – Top Junior ISA Provider With Additional ISA Accounts
In This Guide
UK Junior ISA Providers: Comparison Table
Before recommending any Junior ISA provider, we embark on a mission to conduct thorough market research. We start by identifying as many providers as we could to test and compare their features. Some of the elements we look into in this process include security, interest rates, charges, support services, and more.
Besides testing and comparing the best junior ISA providers, we visit platforms like Trustpilot to analyse user testimonials. Our goal is to understand their strengths and weaknesses from a user perspective. Then, we combine our findings and test results to share what we believe are unbiased recommendations.
Overall, we spend hours in this process and leave no table unturned until we are satisfied. So rest assured that these Junior ISA providers are secure and will serve you long term. Take a look below at our comparison table highlighting the key features of our best online Junior ISA providers for informed choices.
| Best Junior ISA Provider | Licence/ Regulation | Support Service | Payment Method | Open/Manage Account | CTF Transfer in Allowed | Money Insurance |
|---|---|---|---|---|---|---|
| Coventry BS | FCA, PRA | 24/5 | Bank transfers, cash, cheques | Post, Branch, Phone | Yes | £85,000 |
| Loughborough BS | FCA, PRA | 24/5 | Bank transfers, cash, cheques | Post, Branch | No | £85,000 |
| Skipton BS | FCA, PRA | 24/5 | Bank transfers, cash, cheques | Post, Branch | Yes | £85,000 |
| Stafford BS | FCA, PRA | 24/5 | Bank transfers, cash, cheques | Post, Branch | Yes | £85,000 |
| Nottingham Building Society | FCA, PRA | 24/5 | Bank transfers, cash, cheques | Post, Branch | Yes | £85,000 |
Providers Short Overview
As a parent looking to save or invest for your child, you probably want a provider you can afford. The last thing you want is investing too much and exhaust your nest egg, thus straining your lifestyle. Below, we ensure you make a suitable choice by sharing tables highlighting the fee structures and product offerings at our top Junior ISA providers in the UK.
Fees
| Best Junior ISA Provider | Account Management Fees | AER | Minimum Deposit |
|---|---|---|---|
| Coventry BS | None | 4.95% (Variable) | £1 |
| Loughborough BS | None | 4.80% (Variable) | £1 |
| Skipton BS | None | 4.50% | £1 |
| Stafford BS | None | 4.75% | £1 |
| Nottingham Building Society | None | 4.85% | £1 |
Products
| Best Junior ISA Provider | Investment Options |
|---|---|
| Coventry BS | None |
| Loughborough BS | None |
| Skipton BS | None |
| Stafford BS | None |
| Nottingham Building Society | None |
Our Expert’s Opinion about the Best Junior ISA Providers
We tested as many Junior ISA providers in the UK as we could and identified these top options for our readers. Based on our hands-on experience, we share our expert opinions about the top Junior ISA providers in the UK. We hope our mini-reviews below will shed light on each provider’s offerings, thus enabling you to make a suitable choice.
1. Coventry BS – Overall Best Junior ISA Provider in the UK
From our analysis, Coventry Building Society is one of the most highly rated and reputable Junior ISA providers regulated by the Financial Conduct Authority (FCA) in the UK. We visited its website and must confess that it is user-friendly with a modern design interface. It features a Junior Cash ISA with an interest rate of 4.95% annually. Note that this interest rate is variable, meaning it can go up or down at any time.
Coventry BS allows any parent or legal guardian to open a Junior ISA for their child who is below 18 years old. You can open this account by post or by visiting the nearest branch. The best part is that this provider’s minimum deposit requirement is £1. We also like its responsive and reliable support service, although it is available only five days a week.
Pros & Cons
Pros
- Low minimum deposit requirement
- Decent annual interest rate
- A user-friendly and modern design platform
- Allows users to make transfers from Child Trust Funds and other Junior ISAs
- A user-friendly and modern-design website
Cons
- No online account opening option. You must visit a nearest branch or send a post to create a JISA
- No Junior Stocks and Shares ISA
2. Loughborough BS – Best Junior ISA Provider For Newbies in the UK
We find Loughborough Building Society to be suitable for new parents looking to invest or save for their children for the first time. From our experience, the provider has a user-friendly and intuitive design platform. And although you can only create an account via post or branch, Loughborough has a low minimum deposit requirement of £1. We also like that the provider issues users with passbooks once their accounts are opened.
Loughborough has a variable interest rate, which currently is at 4.80% annually. With protection from the Financial Services Compensation Scheme (FSCS), the provider guarantees users’ safety. We like that its support service is also reliable and offers relevant solutions. Plus, Loughborough BS has a comprehensive FAQ section with answers to commonly asked questions. Simply put, it has the best support for any new parent looking to start saving for their offspring.
Pros & Cons
Pros
- Quality support service via phone and email
- Low minimum deposit requirement of £1 for UK clients
- Allows users to make transfers from Child Trust Funds and other Junior ISAs
- Regulated by the FCA and protected by the FSCS in the UK
Cons
- No live chat support
- No Junior Stocks and Shares ISA
3. Skipton BS – Best Junior ISA Provider With Quality Support
Skipton Building Society has an amazing support service for its clients. From our experience, the team is very responsive via phone, webchat, and social media platforms. All our queries and concerns were catered to professionally, thus allowing us to have an exciting experience. Plus, we like its FAQ section, which is comprehensive and has answers to some of the commonly asked questions.
This provider is available on the App Store and Google Play, allowing you to track your savings and investments on the go. With high ratings from users on Trustpilot and FCA regulation, Skipton BS is secure. You can get started on your child’s savings with as little as £1 and earn an annual interest of 4.50%. This interest is variable and can go up or down at any time. However, Skipton BS will notify you in case of such changes.
Pros & Cons
Pros
- Offers other children savings accounts, including Children’s Saver and Childrens Trust Saver
- Attractive interest rate on its Junior Cash ISA
- Low minimum deposit requirement
- Comprehensive FAQ section with responsive and professional support service
- Offers financial advice to help you plan for your future
Cons
- No Junior Stocks and Shares ISA
- No online account opening option. You must visit the nearest branch or send a post to create a JISA
4. Stafford BS – Cheapest Junior ISA Provider in the UK
Stafford Building Society is eligible for children under the age of 18 years. It has a variable interest rate of 4.75% annually, which helps build your savings for your offspring. We noticed that while you can view and track your savings online, you must visit the provider’s branch or send a post to create a new JISA. You will also be provided with a passbook for your transactions, such as making withdrawals.
Stafford BS has a minimum deposit requirement of £1, allowing parents or legal guardians to start saving any amount they can afford. We like its FAQ section, which has numerous answered questions for those looking to save in Junior ISAs for the first time. You can also contact the team via phone, email, or by visiting its nearest branch on weekdays.
Pros & Cons
Pros
- Low minimum deposit requirement
- Favourable interest rate of 4.75%
- A user-friendly and modern design website
- Professional support service team
- Allows children between 16 and 17 years to create and manage their own accounts
Cons
- No live chat support
- You must visit the nearest branch or send a post to create an account
5. Nottingham Building Society – Top Junior ISA Provider With Additional ISA Accounts
Nottingham Building Society was founded in 1849 and remains one of the most preferred institutions for personal savings in the UK. We visited its website to explore and understand its features, and we were welcomed by a user-friendly and modern design interface. When it comes to Junior ISAs, the Nottingham Building Society offers opportunities for children under 18 years. You simply need to deposit at least £1 and stick to its capped allowance of £9,000 per tax year.
The provider’s annual interest rate is currently set at 4.85%. Besides the Junior ISA, we like that it hosts additional savings accounts, including fixed rate cash ISAs, Five Access ISA, and Easy Access ISA. This allows you to manage multiple savings accounts on a single platform. You can rely on Nottingham Building Society’s support service team for guidance and clarifications regarding its Junior ISA. Also, utilise its FAQ page to get answers to some of the commonly asked questions regarding Nottingham Building Society’s services.
Pros & Cons
Pros
- Multiple ISAs offered
- Low minimum deposit requirement for the Junior ISA
- A variable interest rate currently at 4.85% annually
- Zero transfer in fees
Cons
- No Junior stocks and shares ISA
- No online account opening option
What is a Junior ISA?
A Junior ISA is a savings account parents use to secure funds for their children’s future. It was introduced into the market in 2011 as a replacement for Child Trust Funds (CTFs). These accounts are tax-free, with interest rates paid annually. You will create an account with a provider like the ones listed above and start saving or investing for your child. Any money you put away in a Junior ISA will be locked away with zero access until your child turns 18. Only then will the child use the funds, making the Junior ISA a standard ISA.
With a Junior ISA in the UK, parents can save up to £9,000 in a tax year (2024/2025). This is whether you decide to put away the money in a Junior Cash ISA or invest in Junior stocks and shares ISAs. If the full annual allowance is not used, it’s all lost and cannot be carried to the next tax year. The good news is that paying into a Junior ISA is as simple as making deposits into your bank account.
Note that both the Junior Cash ISA and the Junior Stocks and Shares ISAs are tax-free accounts. The only difference is that Junior Cash ISAs are specifically tailored for cash savings with favourable interest rates. In contrast, Junior stocks and shares ISAs allow you to invest in various equities and save the returns.
While only a parent or guardian of a child can open a Junior ISA account, anyone can pay into it. These include your parents, grandparents, friends, and other relatives. You can convert your child’s CTF into a Junior ISA, which is known to have favourable rates. However, not all providers accept transfers from CFTs. Therefore, always confirm the availability of this feature before making a commitment.
How to Choose the Best Junior ISA Provider UK
Creating a Junior ISA will help your child start their adult life on a solid foundation. However, many providers are available in the UK market, thus making it challenging for many parents and investors to make suitable choices. Whether you decide to choose a Junior ISA provider from our recommendations list above or conduct your own research. In this case, we share tips below to ensure you find a partner who will provide a secure and favourable environment.
Security
Types of Junior ISA
Platform Reliability
Interest Rates
Charges/Fees
Support Service
User Recommendations
Security should be of utmost importance when selecting a Junior ISA in the UK. To invest and save securely, the provider should be highly encrypted to avoid unauthorised access to your personal information or data. Plus, ensure it is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority (FCA). This guarantees your funds’ safety, and you get to enjoy favourable conditions.
You should also consider the type of Junior ISA you want to create for investing in your child’s future. As mentioned earlier, there are two types of Junior ISAs, including Junior Cash ISA and Junior stocks and shares ISA. Therefore, confirm the availability of the type of account you want before making a commitment.
The best junior ISA provider in the UK should have a user-friendly and intuitive design platform. You want a platform that is easily navigable so you can access all the features in real time and have an exciting experience. Plus, ensure it has all the resources you need, especially if you are looking to invest in shares and stocks.
Every Junior ISA provider has its own interest rates for clients. Therefore, before you create an account and commit, compare various interest rates for your savings, especially for the Junior Cash ISAs. You want a provider who will maximise your returns in the long run and have higher interest rates.
Choose a Junior ISA provider you can afford so you can plan and budget accordingly. Confirm charges like annual management fees, transaction costs, minimum deposit requirements, fees for account maintenance, and more. Overlooking this element may eat into your nest egg over time, thus making you spend more than what you had in mind. Simply put, a provider with a transparent fee structure and no hidden costs is worth committing to.
It is also crucial to settle with a Junior ISA provider with quality support service. This means that the provider should be backed up by a team of professionals who are available to assist you with your questions or concerns if need be. Their availability doesn’t matter for as long as they align with your schedule. Plus, ensure you can reach out to the team via convenient channels, whether by phone, email, or live chat.
Whether you select a Junior ISA provider from our recommendations list or conduct your own research for one, ensure you factor in this element. Visit Trustpilot and understand other users’ opinions regarding the quality of services and products offered by certain providers. Sample both the negative and positive comments and ratings, and then decide what works best for your needs.
Read about the cash ISA providers in the UK in our other guide.
How to Sign up for an Account with a Junior ISA Provider
Now that you know the top Junior ISA providers in the UK, we believe you also want to know how to get started with one and save for your child’s future. From our experience and analysis, the procedures involved are straightforward and will only take minutes to complete. Simply follow the steps below.
Step 1: Visit your Junior ISA provider’s website
Step 2: Create an account
Step 3: Fund your Junior ISA
Step 4: Track your account’s investment and savings
At this point, we hope you have already chosen your preferred Junior ISA provider in the UK. Therefore, visit its official website to sign up for a savings account. If you have selected an option from our recommendations list above, we share links on this page to give you quick access.
Do not rush into creating an account before familiarising yourself with the provider’s terms of service. If it has a mobile app for Android and iOS devices, ensure you install it on your mobile device. This way, managing your investments and savings will be easier anytime you see fit.
To register for Junior ISA online services, you must first visit your provider’s physical location to set up this account. Visit the nearest branch and get your account number. You will then use the account number to activate online services, thus making it easier for you to track your savings and investments. On the provider’s website, you can also download, fill out, and post the provided application form to activate your account. Not to forget, some providers allow new customers to transfer existing ISAs at no additional costs.
Once your account has been fully activated, you are free to fund it per your provider’s minimum deposit requirement. For instance, all our recommended Junior ISA providers above have low minimum deposit requirements of £1. This allows you to start investing or saving with any amount you can afford. You simply need to ensure your provider will enable you to deposit funds using a convenient payment method. These include credit/debit cards, cheques, and bank transfers.
Once you deposit funds in your Junior ISA, always keep track of it. Some providers are mobile-friendly, so use your desktop or mobile device to monitor your activities and ensure everything is as expected. You should be able to stay abreast of your investment growth, including the interest you earn over time.
Conclusion
Any UK child under the age of 18 years is eligible for a Junior ISA for as long as they do not have a Child Trust Fund. As a parent or legal guardian looking to open a Junior ISA, consider reputable providers like the ones we recommend above. Since you will be investing your hard-earned money, reputable options guarantee maximum safety and favourable conditions. Remember, you can save up to £9,000 in a tax year. Should you exceed the limit, the amount will be carried to the next tax year and will not be refunded to the donor. That being said, prioritise your needs when choosing a Junior ISA and start saving towards your child’s future.
Related Articles: