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Lifetime ISA

Provider Rate Min/Max Deposit Opening Account Accessing Account Interest Options ISA Information ISA Access SG Verdict
Newcastle Building Society
0.35% £1 / No maximum

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • Anniversary
  • Paid Annually
  • Added to the account

- Transfers in accepted from other Lifetime ISAs only.

- This ISA is not flexible and you are not able to re-deposit withdrawn funds if the re-deposit amount takes you above the maximum annual subscription limit in the tax year.

- Additional permitted ISA subscriptions are not accepted

Withdrawals are permitted but are subject to a government 25% withdrawal charge, although this has been temporarily reduced to 20% until 5th April due to Covid-19

Additions are allowed.

Newcastle is the eighth largest building society in the UK, looking after £3.4bn of savings

Nottingham Building Society
1.05% £1 / No maximum

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • Paid Annually
  • Added to the account
  • Paid 5th April

- Transfers in accepted from other Lifetime ISAs but only for internet based accounts, branch based accounts cannot accept transfers.

- This ISA is not flexible and you are not able to re-deposit withdrawn funds if the re-deposit amount takes you above the maximum annual subscription limit in the tax year.

- Additional permitted ISA subscriptions are not accepted

Withdrawals are permitted but are subject to a government 25% withdrawal charge, although this has been temporarily reduced to 20% until 5th April due to Covid-19

Additions are allowed.

Nottingham have a network of over 60 branches and are the 9th largest building society in the UK, looking after approximately £4bn of savings.

Paragon Bank
0.75% £1 / No maximum

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • Anniversary
  • Paid Annually
  • Added to the account

- Transfers in accepted from other Lifetime ISAs but only for internet based accounts, branch based accounts cannot accept transfers.

- This ISA is not flexible and you are not able to re-deposit withdrawn funds if the re-deposit amount takes you above the maximum annual subscription limit in the tax year.

- Additional permitted ISA subscriptions are not accepted

Withdrawals are permitted but are subject to a government 25% withdrawal charge, although this has been temporarily reduced to 20% until 5th April due to Covid-19

Additions are allowed.

Birmingham based Paragon launched in 2014 and now look after over £6bn of savings.

You can find out more about them in our banking directory https://www.thesavings.guru/bank-directory/208-paragon-bank 

Skipton Building Society
0.35% £1 / No maximum

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • Anniversary
  • Paid Annually
  • Added to the account

- Transfers in accepted from cash ISAs, Stocks & Shares ISAs, Help to buy ISAs and Lifetime ISAs

- This ISA is not flexible and you are not able to re-deposit withdrawn funds if the re-deposit amount takes you above the maximum annual subscription limit in the tax year.

- Additional permitted ISA subscriptions are not accepted

Withdrawals are permitted but are subject to a government 25% withdrawal charge, although this has been temporarily reduced to 20% until 5th April due to Covid-19

Additions are allowed.

Skipton was the first bank or building society to launch a Lifetime ISA. 

It is the 4th largest building society in the UK, looking after over £17bn of deposits. 

About The Savings Guru

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