MoneySupermarket Comment on Junior ISA Launch

Sunday, October 30, 2011

CHESTER, England, October 31, 2011 -

Commenting on today’s Junior ISA launch, Kevin Mountford, head of banking at MoneySupermarket said: “The Junior ISA will be a vital tool for tax efficient savers and is great news for parents and grandparents of the six million children eligible for a Junior ISA this year, and for the further 800,000 children eligible next year. However, autumn is an unusual time of year to launch Junior ISAs as providers traditionally focus on peak ISA season each spring to launch new products, so it may be some time until we see any real competition in this market.

“There has never been a more important time for parents to start planning for their child’s future. With the increased cost of living and rise in university tuition fees, the earlier parents put their savings plan into action, the better start they can give to their children.

“The tax free savings limit of up to £3,600 per year for children under 18, which is £2,400 more than the previous CTF allowance, means account holders could earn over £22,000* in interest in 18 years time if they invested the maximum allowance each year, giving their child a real boost in their start of adulthood. Unlike CTFs, which Junior ISAs now replace, there will be no government contributions into each child’s savings pot; however there is some good news for savers as the limit will increase from 6th April 2013 in line with increased cost of living.

“Anyone saving into a Junior ISA should be prepared to shop around for the best deal for their needs, and make sure they regularly switch to the best option in order to achieve the maximum returns when their child turns 18.”

Junior ISAs available on Launch

             Provider              Deposit         AER
    Nationwide BS
    Junior ISA                      GBP1          3.00%
    Buckinhamshire BS
    Junior ISA                      GBP10         3.00%
    Skipton BS
    Junior ISA                      GBP1          3.00%
    Bank of Cyrpus
    Junior ISA                      GBP25         2.75%
    Furness BS
    Junior ISA                      GBP1          2.50%
    Ipswich BS
    Junior ISA                      GBP10         2.40%
    Harpenden BS
    Junior ISA                      GBP1          2.25%
    Mansfield BS
    Junior ISA                      GBP1          2.00%
                                    GBP1+         1.81%
    National Counties BS          GBP1,000+       2.26%
    Junior ISA                    GBP3,000+       3.01%
    Bank of Cyprus
    Fixed Rate Junior ISA (12
    months)                         GBP25         2.90%

Sourced by 31.10.2011

Notes to editors:

*Investing the maximum £3,600 each year in a Junior ISA paying a rate of 3.00 per cent would earn £22,020.73 in interest over 18 years.’s customer commitment

  • No other site compares more prices or products
  • We are independent so only find the best deals for you   
  • The price you see is the price you pay - you don’t need to go direct and you won’t get a better deal doing so   
  • Your details are safe with us and we won’t sell them to anybody compares (at 22nd September 2011)

  • 101 car insurance providers and 78 home insurance providers
  • 13 broadband providers and 18 energy providers   
  • 29 unsecured loan and 5 secured loan providers
  • 62 mortgage lenders and 29 credit card providers
  • 70 savings providers and 35 current account providers.
  • Over 810,000 mobile phone deals

We promise to be clear and impartial

  • All the products in our full search results tables are displayed in a completely unbiased manner.
  • We don’t add fees or commissions on to the prices we compare.
  • There may be times when another site compares more companies than us on a particular product, perhaps because of market changes or technical issues. You’ll be able to see this and know we are working hard to fix it.

We promise to be trustworthy

  • We never use your data to make unwanted sales calls or send you spam.
  • We never pass your personal information to third parties unless you give us permission to do so.
  • Even if you choose to receive additional information from us, you can opt out at any time. 
  • We promise to be supportive.
  • You can use our community forum to get information and help from other customers.

If you need further help or support, you can contact our sales advisors, customer services agents.

For further information, please contact:

Kevin Mountford
Head of banking

Paul Lawler
PR Manager (Financial Services)


will not be displayed