Junior ISA (JISAC)

Junior ISA (JISA).

Interest is variable, calculated on a daily basis and is paid annually on 5 April.

†Annual Equivalent Rate illustrates what the interest rate would be if interest was paid and added each year, and has been rounded to two decimal places.

As the interest rate is variable, we may change the rate if we reasonably believe that the change is needed. If we reduce the interest on your account, we will write to you 14 days before we make the change. For full details on how and why we will change the interest rate on your account, please refer to Section 8 of the Savings Terms and Conditions..

Based on the current interest rate, if you deposited £1,000 in this account, after 12 months you would have £1,032.50. This figure is for illustration purposes and is based on no additional deposits, withdrawals or changes in interest rates within the 12 month period.

To open an account you must be permanently resident in the UK. Simply call into your local branch and complete an application form.

You will need to provide some identification when you open your account, details of our requirements can be obtained from the “before you apply section” on this page, your local branch or by calling. us. If you are already a Hanley Member, in most cases, this will not be necessary.

When you open your account you will receive a passbook.

Minimum investment is £10 – maximum current JISA allowance which is accessible via the HMRC website. You can add to your account at any time subject to the maximum current JISA limit.

Once the account has been opened it can be managed either in branch and/or via post.

Money paid into the JISA is an irrevocable gift to the child. The child can only withdraw money on or after their 18th birthday.

A child is an eligible child for a JISA with Hanley Economic if, when the account application is made:

• They are under the age of 18
• They are resident in the UK, or are a UK Crown servant, married to or in a civil partnership with a Crown servant, or a dependent of a Crown servant

On the child’s 16th birthday the account can be transferred into the sole name of the child. The parent/ guardian can be removed as the registered contact.

On the child’s 18th birthday the JISA will become an Adult ISA. The child can withdraw any monies, close the account or continue to save in it under Adult ISA rules

Only to be withdrawn on or after 18th birthday.

UK residents only.

The treatment of your account for tax purposes will depend on your individual circumstances and you may need to pay tax on any interest that exceeds your Personal Savings Allowance. For more information, please visit HM Revenue & Customs’ (HMRC) website: hmrc.gov.uk . The tax information provided is based on our understanding of current law and HMRC practice, both of which may change.

Yes if

You are happy to not to access the funds until or after the 18th birthday of the account owner.

You are happy that the interest rate may change at any time.

You want to open and manage your account in branch or via the post.


No if

You want a fixed rate of interest for a fixed term.

You want a JISA which is linked to the Stock Market.

You want to open and manage your account online.