Interest is calculated daily and added to the account annually on the 31st March.
Interest rates are variable and may be amended at any time. We will give you one week’s prior written notice by post of any proposed change in our interest rates. They will also be posted on our website at www.swansea-bs.co.uk or you may telephone our Investment Department on 01792 739100. Details of savings interest rates are available in our Savings Accounts and Rates leaflet.
To open an account you must be resident in Wales. The person applying for a JISA must be aged 16 or more, and is one of the following:
- the child who will hold the account
- the child’s natural parent
- a person who has legally adopted the child
- a person who has been granted parental responsibility by the courts
- a Local Authority that has parental responsibility for a child in its care.
- they are under age 18
- they were born on or after 3 January 2011 or do not have a Child Trust Fund account
- they are resident and ordinarily resident in the UK, or are a UK Crown employee, married to or in a civil partnership with a Crown employee, or a dependent of a Crown employee.
- use their whole JISA subscription limit (even though the JISA will be held for a part year only); and
- subscribe 50% of their overall ‘adult’ ISA limit to a cash ISA; and from their 18th birthday, invest in a stocks and shares ISA, subject to the normal ‘adult’ ISA subscription limits.
- the death of the Account holder;
- the terminal illness of the Account holder;
- on direct instruction from HMRC (where the JISA is void); or.
- on the child reaching their 18th birthday.
See “How do I open and manage my account” above.
For General Terms and Conditions applicable to this account see “General Terms and Conditions for the operation of Savings Accounts" available via the link below or from our branches.
You can download any of our application forms or related documentation here. If you need any help with completing one please give us a ring on 01792 739100 where one of our team will be happy to help you.