Urgent warning about ‘use it or lose it’ savings deadline in DAYS – are you missing out on tax-free cash?...

A Junior ISA allows parents to save up to £9,000 a year for their child and the money cannot be withdrawn until they are 18And this year, new rules on the savings accounts take effect, including a rise in the minimum age for opening

James Blower, head of savings at Zopa Bank, said: “Unlike fixed-rate bonds, fixed-rate cash ISAs are generally accessible — although you may have to pay a hefty interest charge to access your money before the fixed term ends.”The scheme allows contributions of up to £4,000 each year, until you’re 50.The main perk of a LISA is savers get a 25 per cent bonus on top of savings.You will also benefit from interest or growth on your savings.

A Junior ISA, or JISA, allows parents to save up to £9,000 a year for their child and the money cannot be withdrawn until they are 18.NIKKI KNIGHT and husband Ollie have set up a junior Isa for their 11-year-old daughter Sophie. “It’s a little lump sum to start Sophie off, for a deposit on a flat, tuition fees or a car – something we wouldn’t be able to help her with otherwise.FIGURE OUT THOSE TAXING LETTERS

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