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Our Junior Cash ISA allows savings up to £9,000 per tax year, earning tax-free interest with no withdrawals until they reach the age of 18. Whatever their dreams for the future, the Junior Cash ISA is a great way to save.
From the start of the tax year, which begins on 6 April, they are able to utilise the Junior Cash ISA tax allowance for that year. Further details of the Junior Cash ISA tax allowance applicable at the current time can be found at www.gov.uk/junior-individual-savings-accounts.
What is the interest rate?
Can Leek Building Society change the interest rates?
The interest rate on this account is variable.
Leek Building Society has the right to change interest rates in certain circumstances. Please see the Society's Statement of Practice Investors leaflet which provides further information on these circumstances.
What would the estimated balance be after 12 months based on a £1,000 deposit?
Based on a deposit of £1,000 the estimated balance after 12 months is £1,047.50. This projection assumes that the amount of £1,000 is deposited in the account at the time it is opened and that no further deposits or withdrawals are made for the full interest period.
This projection is provided for illustration purposes only.
How do I open my account?
The account can be opened in person at one of our branches or by post.
The account must be opened with a minimum deposit of at least £10.
Available to UK residents only.
Can I withdraw money?
Withdrawals and closure are not allowed until the named child reaches 18 or in the case of terminal illness or death.
Withdrawals will not be allowed without the passbook.
Additional information
Open to all UK residents up to the age of 18 years.
Transfers from Child Trust Funds accepted.
The above rates are applicable from 1 October 2023.
¹ Gross rate of interest is the interest rate payable before any income tax is deducted (if you do pay tax).
² AER stands for Annual Equivalent Rate and illustrates what the interest would be if interest was paid and compounded once each year.
In some circumstances, customers will be required to pay tax on interest earned. Please contact HM Revenue & Customs for further information or view their website.
The tax information provided is based on our understanding of current law and HM Revenue & Customs practice, both of which may change.
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Transferring your child's existing Junior Cash ISA or Child Trust Fund to a Leek Building Society Junior Cash ISA is easy.
Remember, don’t withdraw from an ISA or a Child Trust Fund in order to transfer to another provider as you will lose the tax-free benefits. Instead, Leek Building Society offer a transfer service to do this for you. It is always a good idea to check with your current provider whether any charges apply for transferring your ISA to another provider.
Click on the links below to find out how you can book an appointment with your local branch or apply by post today.
To apply for this account in branch, get in touch and book an appointment with us.
We may ask you to provide ID to confirm your name and address. To assist you, we try to verify this electronically. If we are unable to, we would require your paper documentation instead. For a full list of what documents are acceptable, please read our Proving your identity leaflet by clicking here.
You will also need to bring a cheque or cash for at least the minimum investment to open the account.
As you've chosen to open an ISA account, we will also require your National Insurance Number.
To open this account by post, please follow these simple steps:
Leek Building Society received the award of Best Building Society 2023 at the British Bank Awards, sponsored by Smart Money People, on 11 May 2023.
Leek Building Society is a trading name of Leek United Building Society, which is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority with firm reference number 100014. Our details can be found on the Financial Services Register at https://register.fca.org.uk/s/. Leek United Building Society’s address for service is 50 St. Edward Street, Leek, Staffordshire ST13 5DL.
