Like the adult Individual Savings Account (ISA), a Junior Individual Savings Account (JISA) is a tax efficient way of saving as income earned is exempt from UK income tax and capital gains tax. There are two types of JISA - a junior cash ISA and a junior stocks & shares ISA. Danske Bank offers a junior cash ISA.
Good to know
- Earn 0.90% AER/tax-free
- The junior ISA subscription allowance for the 2022/2023 tax year is £9,000
- Anyone can make subscriptions
- Interest is paid tax-free
Need to know
- Available to children under 18 and resident in the UK
- No withdrawals are permitted until the child reaches age 18
- A minimum subscription of £25 is required to open the account
- The account is held in the child’s name but opened and managed by someone with parental responsibility, or the child themselves once they reach age 16 or 17
- Tax rules and tax levels may change in the future including the favourable treatment of ISA
Want to open an account?
You can open a Danske Junior Cash ISA account in any Danske Bank branch.
Alternatively, parents opening the account for their child can ask for an appointment to apply by telephone.
If you are opening a Danske Junior ISA to transfer an existing Junior ISA or Child Trust Fund held elsewhere, you can only open a Danske Junior Cash ISA in branch.
To arrange a branch or telephone appointment call us on 0800 660 033