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Child Tax-Exempt Savings Plans

Did you know that Children's Tax-Exempt Savings Plans (TESPs) also provide a long-term, tax-free way to save for your children's future?

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Cash Junior ISA

A Cash Junior Individual Savings Account (Junior ISA) is a tax-efficient child savings account, launched by the Government in November 2011 as a successor to the scrapped Child Trust Fund.

What is a Cash Junior ISA?

Unlike a Stocks and Shares Junior ISA, a Cash Junior ISA allows parents to save money with a private provider to grow in line with the interest rates (AER rate) offered by the particular bank or building society. Although all the returns from your Junior ISA contributions will remain tax-free, a Cash Junior ISA does not allow for the potential to risk investment in equity-based opportunities for greater growth, which is the case with Stocks and Shares Junior ISAs.

It is important to compare Junior ISA options available on the market before deciding where to invest your money - both Cash Junior ISAs and Stocks and Shares Junior ISAs.

Who can invest in a Cash Junior ISA?

Any child who:

Is a resident of the UK
Is under the age of 18
Did not qualify for a Child Trust Fund (born before September 2002 or after January 2011)

may have a Cash Junior ISA opened in their name.

What are the advantages of a Cash Junior ISA?

The main benefit of a Cash Junior ISA in comparison to a Stocks and Shares Junior ISA is that there is a smaller degree of risk than when investing in equity-based funds. A Stocks and Shares Junior ISA has the potential for substantial returns, but carries with it a risk that your Junior ISA savings could decrease in value as well.

What are the disadvantages of a Cash Junior ISA?

The main disadvantage of a Cash Junior ISA is that returns on your savings are limited to the interest (AER) rates offered by the various banks and building societies.

Who provides Cash Junior ISAs?

You can compare Cash Junior ISA providers with our detailed comparison table. Some of the leading children's savings providers of the Child Trust Fund market now also offer a Stocks and Shares Junior ISA, such as Family Investments.

How much can I invest in a Cash Junior ISA?

The annual tax-free contribution limit for either a Cash Junior ISA or a Stocks and Shares Junior ISA is £3,600.

When can the money in the Cash Junior ISA be accessed?

Your child may access the money in the Cash Junior ISA upon reaching the age of 18.

Read more

Stocks and Shares Junior ISA
Compare Stocks and Shares Junior ISAs
Compare Cash Junior ISAs
Junior ISA Overview
Child Tax Exempt Savings Plans

Interesting Fact

Child Tax Exempt Savings Plans (TESPs) are an efficient and simple way to save for your child, and Shepherds Young Saver Plan lets you put away more per month than any other TESP.

Click here to find out more

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