Features and benefits

Rates and information

Smart Junior ISA interest rates and account information

Please make sure that you have read and understand this important information before applying for this account.

Interest rates

Interest rates
Savings account balance AER % AER % (includes bonus) Gross % (p.a.) Net % (p.a.)
£1+ 3.25% n/a 3.25% n/a

Effective from 26 February 2014

Rates are variable.

Summary box

Summary box
Key product information for our Smart Junior ISA account
Account Name Smart Junior ISA
Interest Rates (AERs) See the 'Interest rates' table above
Tax Status


Conditions for bonus payment


Withdrawal arrangements No withdrawals allowed until the child's 18th birthday, except in cases of death or terminal illness. Upon reaching 18 only the child (and no one else) can withdraw the money.


Interest is calculated daily and paid annually on the 31 October and on maturity.

Opening your account

Opening your account
Minimum & maximum balances
  • £1 minimum opening balance
  • Maximum balance subject to the annual Junior ISA allowance
How to open You can apply online, in any Nationwide branch or order an application pack online and we'll post it to you.
Maximum number of savings account holders 1
Minimum age 0

Managing your money

Managing your money
Paying in Subject to your annual Junior ISA allowance, you can:
  • pay in over the counter at any Nationwide branch
  • set up a regular standing order
  • transfer money in online from a Nationwide current account or instant access savings account
Taking money out No withdrawals allowed until the child's 18th birthday, except in cases of death or terminal illness. Upon reaching 18 only the child (and no one else) can withdraw the money.
Keeping track of your money Your passbook provides a record of transactions. A statement will be sent to you annually. A full statement is available on the Internet Bank.
Interest Interest is calculated daily and paid annually on the 31 October and on maturity.

Terms and conditions

In addition to the Savings general terms and conditions, the following terms and conditions apply to Smart Junior ISA. If there is a conflict between the general terms and conditions and these Smart Junior ISA terms and conditions, the Smart Junior ISA terms and conditions will take priority.

Account Holding and Ownership

  1. An application for a Smart Junior ISA can only be made by:
    1. an individual aged 16 or over on behalf of a child under 18 they have parental responsibility for
    2. an individual aged between 16 and 18 years on their own behalf.
  2. An account holder can only hold one Smart Junior ISA at any one time.
  3. The Smart Junior ISA will be, and must remain in, the beneficial ownership of the child and must not be used as security for a loan.
  4. When the account holder reaches the age of 18 years, we will automatically convert the account into a cash ISA, and the new account terms and conditions will apply.
  5. The account holder can apply at the age of 16 years to manage the account themselves.
  6. The minimum deposit to open the account is £1.
  7. The maximum annual deposit into the account from 6 April 2014 to 30 June 2014 is £3,840. The maximum annual deposit into the account from 1 July 2014 to 5 April 2015 is £4,000 (note that any amounts you invested in your Junior ISA for the period 6 April to 30 June 2014 count towards the £4,000 limit). This information is based on our understanding and interpretation of current tax legislation and HM Revenue & Customs practice both of which may change in the future.
  8. If after opening the account you do not consider it to be suitable you may transfer the balance to another account with us, or have the money returned, provided that in either case we receive notification of your intention within 30 days from the date that the Smart Junior ISA was opened. Interest will be paid gross and the subscription will not count toward the Junior ISA limit for that tax year. A subsequent Junior ISA may be opened with us or with another financial institution.
  9. A statement will be sent to you annually.
  10. In the case of conflict, HM Revenue and Customs ISA regulations take priority over these terms and conditions.
  11. We will notify you if, due to any failure to satisfy the provisions of the HM Revenue and Customs ISA Regulations, the Junior ISA has, or will, become void.
  12. If we delegate any of our functions or responsibilities under these conditions we will satisfy ourselves that the person or organisation we delegate to will be competent to carry out those functions or responsibilities.


  1. Interest will be credited to the account annually on 31 October.

Paying Money in

  1. Any payment made into the account which does not breach the annual subscription limit, is a gift to the child and is not refundable.

Taking Money out

  1. Withdrawals from the account before the child's eighteenth birthday are prohibited, except where a terminal illness claim has been made on behalf of the child and been agreed in accordance with the regulations.
  2. If you wish to transfer the total balance of the Smart Junior ISA to another Junior ISA manager we will send the funds and accompanying information to the new manager within 5 business days of the date of receipt of a transfer instruction from the new manager.

Closing the account

  1. The account will close and tax exemption will end
    1. On the death of the account holder.
    2. Upon the direct instruction of HM Revenue and Customs.
  2. Interest will not accrue to the ISA following closure.

  3. On your death the capital value of the ISA and the accrued gross interest is payable to the account holder’s personal representatives.

Ready to apply for a Smart Junior ISA?

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Financial Services Compensation Scheme

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Need some help understanding ISAs?

Visit our ISAs explained section to find out what ISAs are, how they work and for more information on ISA limits.

Jargon explained

AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.
AER includes conditional bonus (if applicable)
The gross rate of interest is the interest rate payable before any income tax is deducted (if you do pay tax).
The net rate of interest is the interest payable after any income tax is deducted (if you do pay tax).
Tax-free is the contractual rate of interest payable where interest is exempt from income tax.
The tax information provided is based on our current understanding of current law and HM Revenue & Customs practice which can change.

Managing your account