Lifetime ISA Calculator: Bonus, Pot and 25% Exit Charge
Free Lifetime ISA calculator: the bonus your payments earn, the pot at the end, and what the 25% exit charge costs if you use the money for anything else.
A Lifetime ISA is one of the few savings accounts where the state pays in alongside you: put in £4,000 in a tax year and HMRC adds £1,000. The catch sits on the way out. Take the money for anything other than a first home costing £450,000 or less, or your 60th birthday, and the 25% withdrawal charge applies to the whole pot, not just the bonus, so £4,000 in and straight back out leaves you with £3,750, a loss of 6.25% of your own money. Put your numbers in below and this calculator shows the bonus you would collect, the pot you would end up with, and what an early exit would really cost against simply saving the same amount elsewhere.
Work out your Lifetime ISA bonus and pot
The bonus is 25% of what you pay in, capped at £1,000 a tax year, and it usually lands in the account a month or two after each payment. Your £4,000 Lifetime ISA limit sits inside the overall £20,000 ISA allowance. The calculator counts allowances in 12 month blocks from today rather than to 5 April, treats any balance you already hold as money you own either way, and growth is an assumption, not a promise. These are the rules in force now; the government has said it will consult on a replacement first time buyer product, so they may change.
