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 interest of 3.80% AER.
- Interest is paid tax-free.
- The subscription allowance for the 2023/2024 tax year is £9,000.
- Anyone can make subscriptions.
Need to know
- Available to children under 18 who are resident in the UK.
- You also need to be resident in Northern Ireland to open a Junior Cash ISA with us - unless you already are a Danske Bank customer.
- You need to make a minimum subscription of £25 to open the account.
- No money can be taken out of the account until the child becomes 18.
- The account is opened in the child’s name and managed by a parent or legal guardian. If the child is 16 or 17 they can open and manage the account themselves.
- Tax rules and tax levels may change in the future including the favourable treatment of ISAs.
Want to open an account?
You can open a Danske Junior Cash ISA (JISA) account in any Danske Bank branch.
If you are a parent opening an account for your child, you can ask for an appointment to apply by phone.
If you are opening a Danske Junior Cash ISA with funds from an existing Junior ISA or Child Trust Fund held somewhere else, you can’t apply by phone and – you need to open the account in branch.
To arrange a branch or phone appointment call us on 0800 660 033