Lifetime ISA question

MASunderc0ver

Hi,
If i was to open a Life time ISA today and put £4000 in, then this time next year put another £4000 in, would my bonus in April 2023 be £1000 or £2000 total? 

Thanks, Sam 

kuratowski

You would get a one-off bonus of £1000 each time you pay in £4000.  Which means £1000 this year, and £1000 next year.  I.e., this year's contribution wouldn't trigger another bonus again next year, if that's what you were asking.

Also the bonus is paid within 5-8 weeks, it doesn't wait until April.

MASunderc0ver

kuratowski said:

You would get a one-off bonus of £1000 each time you pay in £4000.  Which means £1000 this year, and £1000 next year.  I.e., this year's contribution wouldn't trigger another bonus again next year, if that's what you were asking.

Also the bonus is paid within 5-8 weeks, it doesn't wait until April.

I was wondering more if it would be 2 years till I get my first £1000 Bonus. But you have answered that. thanks.