Tesco Junior ISA
Compare Junior Stocks & Shares ISAs From £10 pm!
Investment ISAs put your capital at risk & you may get back less than you originally invested
- Invest From: £100
- Investment Options: Invest in one of a range of expertly designed investment portfolios depending on your investment style
Why we like it: Invest from £100. Simple, transparent – Invest in one of a range of expertly designed investment portfolios depending on your investment style. All five Nutmeg investment styles are built by experts and use exchange traded funds to diversify across stocks, bonds, industries, even countries. Choose the one that works for you. Nutmeg are regulated by the FCA & are covered by the FSCS. To open a Nutmeg JISA, the child must be under the age of 16 and funds cannot be withdrawn until the child turns 18. Capital at risk. Approved by Nutmeg 09/08/2024
- Invest From: £25 pm
- Investment Options: Choose from more than 40,000 UK and global investment options for your child's ISA
Why we like it: ii offer a flat fee service which over time could save you money compared to platform providers who charge on the value of investments held. ii offer ready made funds including their ethical funds which allows you to invest in line with your principles covering environmental, social and governance factors. Capital at Risk
- Invest From: £25 pm
- Investment Options: AJ Bell offer a wide range of investments including shares, funds, investment trusts and ETFs (exchange traded funds)
Why we like it: Which? Recommended Investment Provider. Invest from £25 pm or invest a lump sum up to £9,000 in the current tax year. AJ Bell offer a wide range of investment options. For a “no hassle” option, you can choose from one of 8 funds and AJ Bell Investments will do the rest. AJ Bell offer a “Responsible Growth Fund” focused on companies taking their commitment to the environment and society seriously. . Capital at risk.
- Invest From: £10 pm
- Investment Options: Is an insurance based Junior ISA which invests in stocks and shares via a With-Profits pooled fund
Why we like it: Your child’s money will be invested through a fund manager & will be invested primarily in stocks and shares, with the aim of achieving higher growth over the long-term than might be available through a cash-based Junior ISA. Open a Junior ISA for your child and get rewarded too. . Capital at risk. Please note: As with all investing, your capital is at risk you may get back less than you have put in. The value of the ISA will depend on the performance of the investments and any bonuses cannot be guaranteed. Additionally, if investment conditions are poor, we may apply a Market Value Reduction (MVR)
- Invest From: £1
- Investment Options: Choose from one of five investment styles based on risk, and a team of experts build your child’s Junior ISA, choosing which investments to buy and managing them on your behalf
Why we like it: You can choose to invest for you child in an Ethical Plan or an Original Plan. Wealthify Junior ISAs contain a range of investments from across the globe matched to the level of risk you choose. Each Junior Stocks & Shares ISA will contain up to 20 investment funds from providers like Blackrock and Vanguard Wealthify is authorised and regulated by the Financial Conduct Authority (FCA). Your money is looked after by our team of experienced and qualified investment managers, and we’re backed by global financial services provider, Aviva. Invest up to £9,000 per year and/or transfer from existing Junior ISA or Child Trust Fund. Capital at risk.
- Invest From: £100
- Investment Options: Nutmeg offer a socially responsible junior investment ISA which places emphasis on environmental and social and governance factors
Why we like it: Open with a lump sum from £100. Simple, transparent – Socially responsible portfolios are tilted towards companies and bond issuers that have high environmental, social and governance (ESG) standards. Nutmeg invest in exchange traded funds that avoid companies engaged in controversial activities while focusing on those that lead their peers on ESG. Capital at risk. Approved by Nutmeg 09/08/2024
- Invest From: No Minimum
- Investment Options: Choose your own investments, invest with help from an adviser or let the experts take care of it all for you
Good to know: Junior ISAs work in the same way as adult ISAs. They give children an allowance every year to save money or invest without paying any Income Tax or Capital Gains Tax. This year the annual Junior ISA allowance is £9,000. Capital at risk.
- Invest From: £25 pm
- Investment Options: Invest in over 3,000 funds, UK and overseas shares, investment trusts and ETFs
Good to know: With an HL Junior Stocks and Shares ISA, you can choose investments for your child including UK and overseas shares, Investment trusts, bonds and exchange-traded funds (ETFs). HL have over 1 million clients who trust them for their investments. Capital at risk
- Invest From: £10 pm
- Investment Options: A selection of 9 funds so you can tailor your child's investment
Why we like it: Offers a selection of 9 funds to choose from, including an “International Ethical Fund” so you can tailor your child’s investment. Winner of Best Junior ISA provider for the 2nd year running at the Investment Life and Pensions Moneyfacts Awards 2020. Capital at Risk
- Invest From: £10
- Investment Options: Allocate your savings between a cash money market fund / shares fund from L&G and Fidelity
Why we like it: Rated the Best Junior ISA two years in a row at the Good Money Guide awards. Beanstalk app is free to download and use. The only charge is an annual fee of 0.5% on the value of any investments, one of the lowest around. Rated excellent on Trustpilot. Capital at Risk
Tesco Junior ISA
A Junior Cash ISA is a simple, affordable way to save for your child’s future if they don’t have a Child Trust Fund. The money in the ISA belongs to the child, who can then withdraw it when they reach 18.
You are able to save up to £9,000 tax free in the 2021/2022 tax year, this is the combined total for a Junior Cash ISA and a Junior Stocks and Shares ISA.
Tesco offer:
- A competitive interest rate
- Low minimum deposit, you can open your account with just £1
- Ability to manage the account with online and telephone banking
- Ability to make deposits whenever you want
Who Can Open an Account?
Anyone with parental responsibility for a child can open a Junior ISA. So if you’re a parent or guardian of an eligible child, you can open a Junior Cash ISA for them.
Other people can save into your child’s account as well such as grandparents, other relatives and friends. However, the total savings in the Junior ISAs must not exceed the annual limit for that tax year.
A young person aged 16 or over can open an account themselves but will not be able to do this online.
If you’ve already subscribed to a Junior Cash ISA, then you will only be able to open another if you transfer all of your subscriptions from the existing provider, to the new provider. Your ISA provider may charge a fee to transfer funds.
Children with a Child Trust Fund are not eligible for a Junior Cash ISA but are able to transfer their Trust Fund in to a Junior ISA.
How Transferring Works and What you Can Transfer
A child may only have one Junior Cash ISA at any time or also have a Junior Stocks and Shares ISA alongside. However, it’s possible to transfer all of the money in an existing Junior Cash ISA to another Junior Cash ISA providing the existing account is then closed.
If you want to move your money from a Junior Cash ISA with another provider to Tesco, you can do this by using the ISA transfer process. The process is far quicker and easier than in previous years and simply involves filling in a form.
You are able to transfer:
- All, but not part, of the funds saved in an existing Junior Cash ISA to a new Junior Cash ISA
- All or part of the funds in a Junior Cash ISA saved in a previous tax year to a Junior Stocks and Shares ISA
- All of the money held in a Junior Cash ISA to a Junior Stocks and Shares ISA, then a new Junior Cash ISA can be opened
Some providers may have restrictions or charge a fee on transfers, so you should always check this with them before transferring money to or from another provider.