JUNIOR ISA – Clockwise Credit Union

JUNIOR ISA

A Junior ISA is a tax-free savings account that can help you save for your child’s future. You can open a Junior ISA for a child under 16 if you are aged 16 or over and have parental responsibility for them. You can put up to £9,000 into a Junior ISA this tax year.

High Savings Rate

Market-leading savings rate of 4.5% AER

Ethical Savings

Money Saved with Clockwise helps support the financially excluded and various local organisations

Keep Money Local

Clockwise Credit Union is only open to people in the local communities of Leicester, Leicestershire, Rutland, Northamptonshire, Coventry and Warwickshire

Junior Cash ISAs are a safe place to save your child’s money. The money will earn interest, but you won’t have to pay any tax on the interest.

About the Clockwise Junior ISA

Start your Junior ISA with as little as £1 for members of Clockwise
A great annual tax-free rate of 4.50%
Make unlimited deposits up to £9000
Applications accepted online only
Maximum of one account holder per account

Your Money Matters

By saving with us, you not only get a financial return, you also know your money is contributing to positive change in your local community.

The important key facts

All UK resident children under the age of 18 who do not have a Child Trust Fund are eligible for Junior ISA’s
Under current rules, children with an existing Child Trust Fund account are not permitted to open a Junior ISA and they also cannot switch their Child Trust Fund to a Junior ISA
Any income or gains will be tax-advantaged
Both cash and stocks and shares Junior ISA’s will be available, but Clockwise only offers the cash JISA, though we can refer you to a suitable stocks and shares JISA. Children can hold up to one cash and one stocks and shares Junior ISA at a time (two accounts in total)
There is overarching contribution limit of £9000 per year
Accounts are owned by the child and funds will be locked in until the child turns 18. Children have the right to manage their accounts from age 16.
Junior ISA accounts will by default become adult ISAs on maturity.
There will be no government contributions or matched payments into accounts.
There will be no stakeholder Junior ISA account.

To learn more about the Terms and Conditions of Junior ISAs, we could do no better than the Money Saving Expert’s advice.

Compare Clockwise Savings Accounts

	Instant Access	Cash ISA	Gold Saver	JISA	Current Account	Prize Saver
Overview	Easy access to your money	Tax free interest	90 Day Notice Account	Savings for a child	Everyday Spending	Win up to £5000
Often Used For	General Savings	Long Term Savings	Saving medium term for a specific goal	Putting money away for a child's future	Day to day spending, cash withdrawals, direct debits	Under £200 of savings
AER	0.8%	4.5%	3.03%	4.5%	0%	0.8%
Access	Instant Access to your money	Instant Access to your money	90 Day Notice to Access Money	Child can access when they are over 18	Instant Access to your money	Instant Access to your money
Interest Paid	Yearly	Yearly	Quarterly	Yearly	N/A	Yearly
Yearly Limit	No limit*	£20,000*	No limit*	£9000*	No limit*	£200
Who Can Apply?	Clockwise Members Aged 18 or over	Clockwise Members Aged 18 or over	Clockwise Members Aged 18 or over	Clockwise Members Aged 18 or over - for a child under 18	Clockwise Members Aged 18 or over	Clockwise Members Aged 18 or over
More Info & Apply

* £85,000 maximum amount across all your Clockwise savings accounts. Learn more about safe savings