CMC Invest junior cash ISA 3.56% AER
Account: CMC Invest Junior Cash ISA
Description: CMC Markets has expanded its wealth offering with the launch of a new Junior Cash ISA (JISA), marking a further push beyond trading into long-term savings products for UK families. The new account, available via CMC Invest, offers a variable interest rate of 3.56% AER, with interest paid monthly. Designed to provide a simple and tax-efficient way to save, the JISA allows parents and guardians to start building a financial nest egg for their children from as little as £1.
Is CMC Invest's Junior Cash ISA Any Good?
While the 3.56% AER rate is competitive, it remains variable, meaning returns could change over time. As with all ISAs, tax treatment depends on individual circumstances and may be subject to future rule changes.
It’s also important to note that you can get better returns with a junior stocks and shares ISA (which CMC Invest also offer) as funds are invested in the stock market, as opposed to a savings account.
Pros
- Tax-free profits
- Competitive rate
Cons
- Money locked away until child turns 18
- Savings may not produce as profitable returns as investing
- Rates (5)
- App & Platform (5)
- Customer Service (5)
Overall
5
Richard is the founder of the Good Money Guide (formerly Good Broker Guide), one of the original investment comparison sites established in 2015. With a career spanning two decades as a broker, he brings extensive expertise and knowledge to the financial landscape.
Having worked as a broker at Investors Intelligence and a multi-asset derivatives broker at MF Global (Man Financial), Richard has acquired substantial experience in the industry. His career began as a private client stockbroker at Walker Crips and Phillip Securities (now King and Shaxson), following internships on the NYMEX oil trading floor in New York and London IPE in 2001 and 2000.
Richard’s contributions and expertise have been recognized by respected publications such as The Sunday Times, BusinessInsider, Yahoo Finance, BusinessNews.org.uk, Master Investor, Wealth Briefing, iNews, and The FT, among many others.
Under Richard’s leadership, the Good Money Guide has evolved into a valuable destination for comprehensive information and expert guidance, specialising in trading, investment, and currency exchange. His commitment to delivering high-quality insights has solidified the Good Money Guide’s standing as a well-respected resource for both customers and industry colleagues.