Cash Junior ISA

Product details

What is the interest rate?

3.00% Gross/AER

The interest is paid annually and will be credited to your account after close of business on 1 January.

Can Progressive change the interest rate?

Yes, the interest rate is variable. We can increase or decrease the interest rate as described in our Savings General Terms and Conditions.

If we are decreasing the interest rate we will notify you at least 14 days before the change takes effect.

What would the estimated balance be after 12 months based on a £1,000 deposit?

£1,030

This is an example based on an initial deposit of £1,000 made on account opening and assumes no further deposits are made throughout the year and that the interest rate does not vary during the 12 month period.

How do I open and manage my account?

The account is available to existing Memebers and new customers resident in Northern Ireland only, who, are under 18, and do not have a Child Trust Fund (CTF).

There is a minimum lodgement of £1 required to open this account.

You can save up to a maximum of the annual Junior ISA allowance (£9,000 for the current tax year).

The account can be opened and operated at any of the Society's branches, agencies or by post.

Can I withdraw money?

No, withdrawals are not allowed before the child turns 18 years of age, unless there are extreme circumstances such as death or a terminal illness.

Additional information

AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded each year. This will enable you to compare more easily the return you can expect from your savings over time.

This is a tax free account which means the interest paid is exempt from income tax.

The interest rate is correct as of 1 February 2026.

For further information refer to the terms and conditions of the account and the terms and conditions contained within the Savings General Terms and Conditions. You can obtain a copy of these documents in the 'Useful Information' section below.