01 March 2013
Nationwide Building Society is today (Friday 1 March) extending the bonus period for a further 12 months on its Smart Junior ISA.
Until 31 January 2015, Smart Junior ISA will include a fixed introductory bonus of 1.15% tax-free for balances of £1 or more. This means the Smart Junior ISA will pay 3.25% AER* tax-free variable including the introductory bonus. The extended bonus period applies to new and existing accounts.
||Smart Junior ISA
||In branch, by post or online
||Available to UK resident children under 16 who have never been issued with a Child Trust Fund voucher
||No withdrawals allowed before the child's 18th birthday and then only the child can access the money
||Unlimited, up to annual Junior ISA allowance of £3,600 for the tax year 2012/2013
|Min. opening balance
|Min. operating balance
||Subject to annual Junior ISA allowance
||The account must be opened by a parent or legal guardian over the age of 16 on behalf of a child under the age of 16 years
|Number of accounts
||The child is the account holder and can only hold one cash Smart Junior ISA at any one time
||Interest is calculated and credited to the account annually on 31 October
Loyalty Saver (Issue 3) was withdrawn from sale at close of business on Thursday 28 February 2013.
Notes to editors:
*AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest were paid and compounded once each year. Tax-free is the contractual rate of interest payable where interest is exempt from income tax.
SMART JUNIOR ISA
||AER tax-free variable rate (including bonus)
||AER tax-free variable rate (excluding bonus)
||1.15% introductory fixed bonus until 31 January 2015
Nationwide is the world's largest building society as well as the second largest savings provider and a top-three provider of mortgages in the UK. It is also a major provider of current accounts, credit cards, ISAs and personal loans. Nationwide has around 15 million customers.
Customers can manage their finances in a branch, on the telephone, internet and post. The Society has around 16,000 employees. Nationwide's head office is in Swindon with administration centres based in Northampton, Bournemouth and Dunfermline. The Society also has a number of call centres across the UK.