Product update: Junior ISA

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
Availability In branch, by post or online
Eligibility Available to UK resident children under 16 who have never been issued with a Child Trust Fund voucher
Withdrawals No withdrawals allowed before the child's 18th birthday and then only the child can access the money
Deposits Unlimited, up to annual Junior ISA allowance of £3,600 for the tax year 2012/2013
Min. opening balance £1
Min. operating balance £1
Max. balance Subject to annual Junior ISA allowance
Account opening 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 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Loyalty Saver (Issue 3) was withdrawn from sale at close of business on Thursday 28 February 2013.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.


  AER tax-free variable rate (including bonus) AER tax-free variable rate (excluding bonus) Bonus rate
£1+ 3.25% 2.10% 1.15% introductory fixed bonus until 31 January 2015

About Nationwide

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.

Please note: If you are a customer looking for information on our products and services, please visit the main website.