- Lifetime ISAs offer unique access to a 25% Government bonus for savers aged between 18 and 39 years old
- As from April this year, Government bonus is paid monthly, meaning savers should start investing straightaway to maximise their nest egg over the tax year
- OneFamily Lifetime ISA is easy to open and use, with a minimum investment from as little as £25 per month
- Invested in stocks and shares customers can choose between two funds
OneFamily is urging savers to maximise the opportunity offered by a Lifetime ISA and gain access to the Government 25% bonus. The Lifetime ISA is the only savings account that benefits from this generous monthly bonus. And is available to savers from 18 – 39 years old saving for a first home or retirement.
Until April 2018, the Government bonus was paid at the end of the tax year. However, as savings are now topped up monthly, investors should make the most of the new regular payment, and make monthly deposits into their accounts. For every pound put in each month the Government will add 25p, meaning accounts will quickly increase in value.
This also means savers will benefit from any investment returns on both the original funds the customer has paid in. Plus the Government bonus as it is added to the ISA the same month the savings are invested.
The OneFamily Lifetime ISA has two investment funds that customers can choose. Depending on their saving goals, users can switch between at any time should their circumstances change. Customers can choose to have their savings invested mostly in corporate bonds through one of the funds, and the other fund will be mostly invested in shares.
The OneFamily Lifetime ISA has an annual management charge of 1% making it easy to understand, calculate and track.
Nici Audhlam-Gardiner, Managing Director of Lifetime ISAs at OneFamily commented:
“The Lifetime ISA offers those saving towards a first home or retirement a huge helping hand through its guaranteed 25% bonus. Savers can invest up to £4000 every year, or make regular monthly payments of up to £330 to reach this limit, and all payments are topped up with the bonus during the same month. If savers pay in the maximum that’s £83 a month extra.
For savers, seeing their money grow this quickly is a real motivator towards adding a little bit extra to reach their goals, plus they will see the increased benefit on the total amount from any investment returns from the carefully selected funds we have chosen.
“The Lifetime ISA is the long-term replacement for the Help to Buy ISA and we’d urge any savers in the latter to move into it, as it offers a number of superior features. These include savers benefiting from investment returns on the monthly bonus as well as the original investment, the ability to pay more in, and the funds saved can be used towards a property deposit, unlike the Help to Buy ISA.”
To find out more visit: https://onefamily.com/lifetime-isa/