You earn 25% government bonuses - up to £1,000 per tax year - with a Lifetime ISA. We claim it from HMRC for you, and it is paid directly into your Lifetime ISA account!
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These bonuses usually arrive between 4-7 weeks after you make a contribution into your Lifetime ISA, due to HMRC processing times. Please allow for this time to lapse before getting in touch regarding a pending bonus payment.
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The bonus can not be withdrawn once earned, unless for a qualifying first home purchase after your Lifetime ISA has been open for 12 months minimum, or for retirement. If you attempted to withdraw money for any other reason, you'd lose the bonus you earned, as well as paying a penalty to the government which amounts to £6.25 for every £100 of your own money you are taking out.