Lisa bonus question

Seanymph

If my son opens a Lisa this week, in February, with the 4,000 he is allowed for this year, will he get the thousand pound bonus in April, or is it like interest and paid monthly so he will only get march, IE 1/12 of £4000.   Thankyou, I've only just looked at them today as he is looking to save up for his first house.  

badger09

Seanymph said:

If my son opens a Lisa this week, in February, with the 4,000 he is allowed for this year, will he get the thousand pound bonus in April, or is it like interest and paid monthly so he will only get march, IE 1/12 of £4000.   Thankyou, I've only just looked at them today as he is looking to save up for his first house.  

The bonus will be based on his contribution that month. So, if he pays £4k in as a lump sum, he will get bonus of £1k. Bonus takes a few weeks (3 - 6?) to arrive. 

There's a guide to LISAs in the stickie at the top of this board. Suggest your son reads this before committing £4k.
He could open one with £1 to set the clock ticking.