We're aware that some users are experiencing technical issues which the team are working to resolve. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Does £12,000 H2B limit include interest?

Options
Hello MSE-ers,
I have a Halifax H2B ISA (opened way back when first on offer) and its balance is almost at £12k. The rules state that to get the max govt £3000 bonus you need to save £12,000.

My question is, does the maximum of £12k include any interest it has earned, or does it have to be only money that I have deposited (and therefore the balance will be over £12k including interest)?
Thanks so much in advance :-)

Comments

  • eskbanker
    eskbanker Posts: 36,934 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Clause 7.4(B) of the scheme rules actually states that:
    A Help to Buy: ISA Holder shall be entitled to a Bonus, in respect of their closed Help to Buy: ISA, of 25% of the Closing Balance of that Help to Buy: ISA,  
    and goes on to clarify:
    a maximum Bonus of £3,000 (meaning that the amount by which the Closing Balance of a Help to Buy: ISA exceeds £12,000 shall not be eligible for a Bonus)
    so it's the balance (i.e. including interest) rather than the total of deposits that's measured.
  • Thank you so much :-D
This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 350.7K Banking & Borrowing
  • 253K Reduce Debt & Boost Income
  • 453.4K Spending & Discounts
  • 243.7K Work, Benefits & Business
  • 598.4K Mortgages, Homes & Bills
  • 176.8K Life & Family
  • 256.8K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.