Customers who transferred their current Lifetime ISA to Tembo either between 20th June and 31st July 2024, or 1st September 2024 and 30th September 2024 will be eligible to receive a free cash bonus payment of up to a maximum of £300. Including the bonus payment, that’s the same as getting 5.05% interest rate (AER variable) on your savings, depending on how much you transferred.
As long as we receive your transfer form via the app within the dates listed above, we will allocate the cash bonus to your Tembo Cash Lifetime ISA account automatically. Eligible customers who transferred between 20th June and 31st July 2024, the cash bonus will be allocated to their accounts in January 2025. Eligible customers who transferred between 1st September and 30th September 2024, the cash bonus will be allocated to their accounts in September 2025.
The Cash Bonus
Provided you meet the eligibility criteria below, we will contribute a cash bonus to your Lifetime ISA account, no alternative payment is available.
The Cash Bonus thresholds are as follows:
Transferred Amount | Cash Bonus |
£0-£4,999 | 0 |
£5,000 | £30 |
£10,000 | £75 |
£15,000 | £100 |
£20,000 | £125 |
£25,000 | £150 |
£30,000 | £175 |
£35,000 | £200 |
£40,000 | £225 |
£45,000 | £250 |
£50,000 | £300 |
Eligibility
To qualify for the Offer you need to:
Become a new Tembo Cash Lifetime ISA customer, having not been a customer previously;
Initiate a transfer of your Lifetime ISA from your existing provider to Tembo by 31 July 2024, or by 30th September 2024. Transfers between these two offer periods (1st August - 31st August 2024) are not eligible for the cash bonus. (Full transfers can be accepted from a Stocks and Shares Lifetime ISA or Cash Lifetime ISA)
Valid for transfers initiated after 13:00 Thursday 20th June for the offer period running 20th June - 31st July 2024, and transfers initiated after 00:00 on 1st September - 30th of September 2024.
In order to qualify for a cash bonus, the minimum transfer balance must be £5,000;
You must not be participating in any other offer from Tembo;
You will need to hold the funds in your account with Tembo for 12 months.
If you transferred to Tembo between 20th June - 31st July 2024, the bonus will be paid to you 6 months after your funds are received by Tembo. If you transferred to Tembo between 1st September - 30th September 2024, the bonus will be paid to you 12 months after your funds are received by Tembo