Top junior ISAs
3.85% tax-free kids' savings
Junior ISAs (JISAs) let you save or invest up to £9,000 in the 2025/26 tax year, with the cash locked away until the child turns 18. This guide has the pros and cons of junior ISAs, how to transfer in from a Child Trust Fund, plus the top paying accounts.
Top-pick cash junior ISAs
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Top junior cash ISAs
Leek Building Society – 3.85% (post/branch only)
NS&I– 3.55% (can be opened online)
Martin: 'Before you read on, an important note about junior ISAs'
I know many of you will have come to this guide to find the best-buy cash junior ISAs, and we have that info. Yet with JISAs, there’s a strong argument that it’s worth looking at investing rather than saving.
The general rule is if you’re putting money away for over five years, that you don’t need access to, on the balance of probability, investing will likely significantly outperform saving (see my investing v savings video).
And with junior ISAs, by definition the money is locked away until your children are 18, without any access to it. With that length of time, especially if you’re starting when they’re young, it fits more than snugly into the ‘when investing tends to win’ category.
Of course, there are no guarantees with investing – there’s a risk you won’t get back what you put in. Yet to mitigate the risk, we’re not talking about single shares, but combining some funds that invest in a collection of a very wide range of shares (for example, UK and global index tracker funds, which monitor the performance of stock market indices).
So do consider it, or perhaps put some in cash and some in shares. You can have both a cash JISA and a shares JISA even in the same year (as long as you stick under the £9,000 limit). More info on all types below…
What is a junior ISA?
A junior ISA is a permanently tax-free savings or investment wrapper aimed at encouraging families to save for their children's futures. Only parents can open one for their children – grandparents and other family members can't open a JISA but can fund one that parents have set up.
Although the child is able to take control of the account at 16, any money you put in one will be locked away until the child's 18th birthday. At this point it becomes their cash (and will become a standard ISA).
You can put up to £9,000 into a junior ISA in the 2025/26 tax year, which ends on Friday 5 April 2026. The £9,000 can be split whichever way you like between the two types of junior ISAs:
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Junior cash ISAs. This is where you put the cash in what is quite simply an always tax-free savings account. The money is completely safe (provided it's in a UK-regulated provider and you've no more than £120,000 with that financial institution) and you get a defined amount of interest. The only risk is the money won't grow as quickly as inflation.
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Junior stocks & shares ISAs. Returns depend on the performance of the stocks or shares you've invested in. The general investment rule is if you're putting money away for over five years, on the balance of probability, investing will likely significantly outperform saving – and with Junior ISAs, the money is locked away for up to 18 years.
You can transfer providers as often as you like, but can only hold one of each type at any one time. So if you spot a cash ISA with a better interest rate you'll need to transfer the full amount to the new account. Just remember, never withdraw the money yourself if you're transferring as you'll immediately lose all the tax benefits. Instead, speak to the new provider and fill out a transfer form.
If kids don’t usually pay tax on savings, why use a JISA?
There are three main reasons:
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If they’ll earn more than £100 a year in interest from money given by parents. Junior ISA savings are tax-free and stay tax-free year after year. While kids don’t normally pay tax on savings, there’s a special rule for money given by each parent or step-parent (not grandparents, aunts, uncles etc). If that money earns more than £100 a year in interest in a normal (non-JISA) account, the whole lot is taxed at the parent’s tax rate.
This applies to interest from savings, dividends, income from funds and bonds. Once the child earns more than £100 in interest, the whole lot is taxed at the parent's tax rate – though if the parent is within their personal savings allowance and the child's savings don't take them over, it'd still be tax free. In that case, saving it in a Junior ISA avoids the issue completely, as it’s tax-free. For full details, read our guide to how kids' tax works. -
You want to lock the cash away until they’re 18. Junior ISAs require this, so they’re an easy way to ringfence money for adulthood. Just remember: once they turn 18, it’s legally theirs to do with as they please.
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If junior ISAs pay more than normal savings. Even if there’s no tax advantage, a JISA can be worth it if the rate beats standard kids’ savings accounts. Compare the top junior ISA rates with the best children’s savings rates. But don’t forget: the money is locked away until 18. If rates improve elsewhere later, you can transfer to another JISA – but you can’t withdraw it and move it outside the wrapper.
For full details of all alternatives to JISAs, see our complete guide to kids’ savings accounts. It covers the best easy-access options – where children can pay in or take money out whenever they want – as well as regular savings accounts, which reward small monthly deposits.
How do I open a junior ISA
Any child under 18 can have a junior ISA, but how you open one depends on when they were born.
Child born after 3 January 2011? Just find the top junior ISA and open it for them (or they can open it themselves at 16 or 17). Most providers require you to apply by post or prefer you to go into your local branch, though a select few do allow you to open junior ISAs online.
Child born before 2 January 2011? They’ll likely have had a Child Trust Fund (CTF) automatically opened for them by the Government. You can convert this to a junior ISA – and it’s usually a good idea. Don't know where your CTF is saved? There are an estimated one million lost funds. See how to reclaim your lost Child Trust Fund.
A small number born before January 2011 may not have had a CTF (for example, if they weren’t UK citizens at the time). If so, they can open a Junior ISA now.
Not all major banks and building societies offer junior ISAs. We list the top rates below in our best buys, alongside how you can apply.
When you apply for an account, you may be asked to provide:
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Proof of identity and address for yourself
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Proof of identity for you child
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A linked bank account in your name
The requirements can vary depending on the provider, so make sure to check the terms and conditions.
Top junior cash ISAs
Below, we've listed the highest-paying junior cash ISAs open to all. However, it's always worth checking your local building society, as it may have a good branch-only offer for local customers – as a nationwide website, we can't cover all of these.
Junior cash ISAs – what we'd go for
The top rates can’t be opened online. Leek Building Society pays the top rate at 3.85%, though it can only be opened and managed by post or in branch. You can transfer in from existing JISAs and Child Trust Funds.
The top online accounts pay less. Government-backed NS&I pays 3.55% and can be opened and managed online, so you sacrifice a little on rate for the convenience.
Provider | Rate (AER variable) | How to open | Transfer in allowed? | Interest | Max FSCS protection |
|---|---|---|---|---|---|
Top-paying accounts | |||||
3.85% on £1+ | Post/ branch | Yes | Annually | £120,000 | |
3.85% on £3,000+ | Post | Yes | Annually | £120,000 | |
3.75% on £1+ | Post/ branch | Yes | Annually | £120,000 | |
3.75% on £25+ | Phone/ branch (can manage online or via app also) | Yes | Annually | £120,000 | |
3.75% on £1+ | Post/ branch | Yes, but not from Child Trust Funds | Annually | £120,000 | |
Top online accounts. Lower rate but can be opened & managed online. | |||||
3.55% on £1+ | Online | Yes | Annually | 100% of deposit backed by HM Treasury | |
Top junior investment ISAs
Investing isn’t MoneySavingExpert’s area of expertise. So we don’t tell you what the ‘best’ platform is or give top picks. Instead, we’ve highlighted the more well-known names across the two main types – DIY platforms and managed (robo) platforms – to give you a starting point for your own research.
While investing has historically beaten savings over the long term, there are no guarantees. The value of your investments can go down as well as up.
If you’re new to investing, read our Investing for beginners guide first so you get a firmer understanding of the basics.
DIY investment JISA platforms
With do-it-yourself platforms, you need to do your own research before deciding what to invest in, build your own portfolio and keep track of it. Make sure you take all charges into account – including any platform fees, fund charges, trading charges and exit fees.
We list these different costs, but we haven't taken fund charges into account. These will vary depending on which fund you pick and – to an extent – which fund platform you choose (some platforms negotiate deals with fund managers for cheaper fees).
All firms listed allow transfers in, though Fidelity doesn't allow transfers in from a Child Trust Fund.
Platform + min deposit | Cost | Fee to buy/sell funds | How to manage |
|---|---|---|---|
min £100 or £25/mth | Free | None | Online/ phone/ post |
min £250 or £25/mth | 0.25%/yr (max £2.50/mth for shares, no max for funds) | £1.50 | Online |
Free | None | Online/ app |
Managed investment JISA platforms
For managed investment JISAs, you'll receive help to choose an investment portfolio based on your attitude to risk, as well as what your investment goals are.
In general, these platforms won't be the cheapest, as you're getting all of the work done for you. But, often costs are kept relatively low as the funds which are typically chosen for investments have low management charges.
There are many managed and 'robo' platforms out there, so always do your own research. To help you on your way, we've listed a couple of the bigger names in the table below (both allow transfers in).
Platform + min deposit | Management fee (1) | Average annual fund cost (2) | How to manage |
|---|---|---|---|
min £500 | 0.6%/year | 0.15% (original plan) or 0.58% (ethical plan) | Online/ app |
min £500 | Tiered 0.45%/yr to 0.7%/yr (min £1.25/mth) | 0.21% to 0.35% | Online/ app |
(1) Management fees based on investments of up to £100,000, there's a lower fee for larger amounts with MoneyFarm. (2) Total cost comprises fund charges + market spread.
How do I pay into a junior ISA?
You can usually deposit money into a junior ISA in the same ways you would with a normal bank account, via cash deposit in branch, cheque, a one-off bank transfer or a regular payment such as a standing order.
You can deposit a lump sum or top up your child's ISA as frequently as you like, though you can't pay in more than the £9,000 allowance per tax year.
You can also transfer an existing junior ISA to a new provider. Some (but not all) providers also allow you to transfer existing Child Trust Funds. We list whether or not providers allow this in our best buys table.
Want to complain about your savings provider?
If your savings provider has given you the incorrect interest rate, or you haven't received your interest at all, then you don't have to suffer in silence.
It's always worth trying to call your provider first to see if it can help, but if not, you can use free complaints tool Resolver. The tool helps you manage your complaint, and if the company doesn't play ball, it also helps you escalate your complaint to the free Financial Ombudsman Service.
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