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SCOTTISH FRIENDLY MY SELECT JUNIOR ISA
Scottish Friendly My Select Junior ISA (Junior ISA)
        
Your child’s 18th birthday may seem like a long way off, but starting to put some money aside now makes good financial sense. As a long term tax-free investment, My Select (Junior ISA) could help pay towards anything from university fees to their first car. If you’d like to put some money aside for your child’s future, Scottish Friendly’s My Select (Junior ISA) could be the plan for you. You can start investing your money from just £10 a month. 
Location: UK
Advantages:
1. Invest tax-free from £10 a month or a £50 lump sum — or a mix of both.
2. You can raise, lower, stop and restart your payments any time you like.
3. Your money will be invested in a My Select policy within a Scottish Friendly Junior ISA which invests in your choice of funds.
4. Your child can have a Scottish Friendly My Select (Junior ISA) as well as a Cash Junior ISA.
Disadvantages:
1. Money in a My Select (Junior ISA) belongs to the child. They can only withdraw it when they reach 18.
2. If the child withdraws money from plan before the end of 5 years, there will be a £50 deduction from the withdrawal value.
Services:
Scottish Friendly’s My Select (Junior ISA) is a policy within a Scottish Friendly Junior Individual Savings Account (JISA) that invests in a choice of funds, including stock market and bond funds. It’s available for children under 18, who didn’t qualify for a Child Trust Fund.

AER Rate: Varies on Fund
Interest Paid: Varies on Fund
Notice Period: Child must be 18 years
Min Deposit: £50
Max Deposit: £4,080 in a tax year
Initial Fee: £0
Exit Fee: £50 (Child must be 18 years)
Annual Management Fee: £0

Products:
Investment ISA
Suitable For:
The fund aims to grow your money over time on the stock market, so it should be considered as a long-term investment.
Conditions:
As a policy within a Junior ISA, the value of your investment can go down as well as up and therefore the child could get back less than you have invested.
Restrictions:
Once money has been paid into the Junior ISA, it is locked in. It can only be taken out by the child when he or she reaches the age of 18. Any payment made to the Junior ISA cannot be returned to the donor
Introductory Offer:
None
Terms and Conditions:
Remember that £4,080 is the maximum annual limit, so if you’re saving in a Cash Junior ISA with another Junior ISA manager too, this limit will be reduced.
        
REVIEWS
Scottish Friendly My Select Junior ISA (Which Way To Pay - 3/9/2015)
Scottish Friendly My Select Junior ISA is ranked 4 out of 5. Based on 1 review.

4 Star Rating

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Scottish Friendly My Select Junior ISA
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