Finding the Best Junior ISA For Your Child

Since launching in November of 2011, the individual savings accounts for children known as Junior ISAs have grown in popularity. With many types of funds now being offered, it can be tough to choose the best Junior ISA for your child’s future.

The first thing to do is determine what type of individual savings account you want for your child. There are currently two types — Cash, and Stock and Share. Cash-only Junior ISAs tend to have a lower minimum deposit and flat rate of return, where stock and share Junior ISAs request an up-front or monthly payment, and a rate of return which can fluctuate. In these cases, the Best Junior ISAs will feature the higher annual rate of return as well as flexibility to select the risk level for your child’s investment.

The next thing to look for is customer service. The best Junior ISAs will offer not only responsive phone and online support but also 24X7 web access to your account with comprehensive, yet easy to read, information. Finally, take a look at the history of the company you are interested in to see it’s long term track record and how their more adult investments have fared in the past.