Additional information

Type of ISA
Cash Junior ISA. Junior ISA (JISA) became available from 1 Nov 2011. A JISA is a type of ISA available to eligible children.

Minimum opening balance
£50

Minimum operating balance
£50 If the balance falls below the the minimum operating balance a nominal interest rate applies (see Current interest rates for more details).

New investors
Yes.
 

Eligibility requirements
A child is eligible for a Cash Junior ISA if, when the application is made:

• They are under age 18.
• They do not hold a Child Trust Fund.
• They are resident in the UK.

For children under 16, a person with parental responsibility must apply to open the account. 

Over 16's can apply directly, or a person with parental responsibility can apply to open the account on their behalf.

Restricted deposit
There are two types of JISA - Cash and Stocks and Shares. You can hold one of each type until the age of 18. Once you have invested the full subscription for the year, you cannot make additional investments.

Annual JISA allowance

Tax year	Cash JISA allowance	Total JISA allowance (Cash JISA and Stocks and shares JISA)
6 April 2012 - 5 April 2013	Up to £3,600	Up to £3,600
6 April 2013 - 5 April 2014	Up to £3,720	Up to £3,720

Charges
Not for the normal operation of the account (see our Savings terms and conditions PDF for more details).


Additional benefits   

• Member Loyalty Card enabling discounts and special offers from local traders who participate in our scheme.

Similar products
Square deal Cash ISA
Suitable if you are aged 16 or over, require easy access to your savings and have not subscribed to a Cash ISA in the current tax year.
Young Saver
Suitable if you are aged under 18 and require easy access to your savings.

General Junior ISA terms and Conditions

• An JISA may only be held by an investor in his or her sole name. Joint accounts are not allowed. You must be under 18 years of age to invest in an JISA.
• The registered contact is the person who can agree with the account manager the terms and conditions under which the account will operate, and give instructions to the account manager for the management of the account. There can be only one registered contact for an account at any time. The registered contact will be:
  a) The child holding the account if they are aged 16 or over and have taken on management of the account by making an application to the account provider for registered contact status, or
  b) A person with parental responsibility for the child holding the account.
• All correspondence will be sent to the registered contact.
• All JISA investments will be and must remain in the beneficial ownership of the child.  Any rights in respect of your JISA may not be assigned and those rights may not be used as security for a loan.
• All subscriptions to the JISA are a gift to the child, and as such cannot be repaid to the subscriber if at a later date the subscriber changes their mind.
• A JISA may not be transferred from one investor to another.
• The child is resident in the United Kingdom or is a UK Crown Servant, a dependant of a UK Crown Servant or is married to, or in a civil partnership with a UK Crown Servant.
• The start date for your JISA is the date of the first deposit.
• On the instructions of the registered contact a JISA with all rights and obligations shall be transferred to another ISA manager within five working days.
• You must not subscribe more than the overall subscription amount in total to a Cash JISA and Stocks and Shares JISA in the same tax year. Once the limit has been reached for the tax year you cannot make further subscriptions.
• In the event of death of the child, the JISA must cease on the date of death. Interest will be paid gross up to and including the date of death. The account will be transferred into an interest bearing account in the names of the personal representatives.  Interest arising after the date of death will be subject to deduction of income tax at the appropriate rate.
• For a period of 30 days after opening the JISA, the registered contact may instruct us that they have changed their mind and we will return the deposit to the child, subject to cheque clearance, with any accrued interest. The 30 day cancellation period starts on the day you open your Cash JISA and ends at close of business on the 30th calendar day. To cancel the JISA agreement with us, you can either visit or write to your local branch, enclosing your passbook. No administration charges will be made.
• Newbury Building Society will notify the registered contact if, by reason of failure to satisfy the provisions of the JISA regulations, a JISA has, or will, become void.

 
Tax free is the contractual rate of interest payable where interest is exempt from income tax. AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.

WE HAVE NO CURRENT PLANS TO WITHDRAW THIS PRODUCT BUT IT MAY BE WITHDRAWN WITHOUT NOTICE