What is a junior ISA?

Everyone wants to protect their future – and when you have children, this need for a more financially stable tomorrow becomes even more essential. With Individual Savings Accounts, you can start to do this, but did you know these tax efficient options are also available for savers under the age of 18?

A junior ISA is not only a great way for youngsters to maximise the amount of interest they can save on the cash they put away, they can also be a great learning tool for the importance of being careful with money and what rewards this can bring.

However, many parents will have questions about junior ISAs – as well as regular ISAs – that they may want answered, which is where this infographic might come in handy. The graphic takes you through how junior ISAs work, who is eligible to have one, the differences between the ISA types that are available and why it’s so important to compare the range of products out there.

It should give you a pretty detailed overview of why a junior ISA might be the best option for you and the young boy or girl whose financial future you would like to help protect – so take a look before you leap!

Image source: MoneySupermarket;


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