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  1. #1

    LISA Monthly Bonus?

    I have contributed 4000 to my LISA this year so am due the 1000 bonus in May time. However, I’ve noticed that bonus is to be paid monthly from next tax year. Does this mean:
    If I contribute 4000 in the first month of the next tax year, I’ll get the 1000 bonus at the end of that month? (But then obviously wouldn’t be able to contribute anymore for rest of year?)

  2. #2
    I have a question to add to this. Is it better to keep my 4000 in a high-interest paying account for the year (say Tesco's 3% current account) and then before the end of the tax year put it into the LISA or is it better to put my money into the LISA at the beginning of the tax year?

  3. #3
    Good question. I think it's a good account but some things seem a bit complicated. Or maybe it's just me

  4. #4
    That depends on what return you could get if you put it in the LISA at the start. If its a cash LISA then the 3% in Tesco plan would get the better eventual return as cash LISA can only get 0.75%. If on the other hand you are investing within the LISA then its impossible to know as it depends how the markets behave during that particular year.


 

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