Lisa

guivier

Dear All
I would appreciate if replies were made with links to verify the info provided (I spent loads of time looking but could not find answers):
If in a tax year you have saved only £1000 (which would mean a £250 government bonus), does it mean that in the subsequent tax year you could deposit £7000 (and be eligible for £1750 bonus) or does it mean you lost the opportunity and could only save the £4000 for that current year?
Many thaks

Flobberchops

Only £4000 per year. Use it or lose it.

grumiofoundation

“You can put in up to £4,000 each year”

https://www.gov.uk/lifetime-isa

Ed-1

guivier wrote: »

Dear All
I would appreciate if replies were made with links to verify the info provided (I spent loads of time looking but could not find answers):
If in a tax year you have saved only £1000 (which would mean a £250 government bonus), does it mean that in the subsequent tax year you could deposit £7000 (and be eligible for £1750 bonus) or does it mean you lost the opportunity and could only save the £4000 for that current year?
Many thaks

There was a plan when the product was being designed to allow you to have the flexibility to "borrow" funds from your Lifetime ISA and pay them in again later without losing any allowance/bonus but this never got followed through after Osborne and Cameron left government (it was Osborne's pet project).

LynnForest

what is the interest rate on this?

eskbanker

LynnForest wrote: »

what is the interest rate on this?

It depends entirely on whose product you choose, although there's not a massive range in the market - the short list of cash LISAs is available at the likes of https://moneytothemasses.com/saving-for-your-future/compare-the-best-and-cheapest-lifetime-isa#title-anchor-14