Our picks of the best Cash and Stocks & Shares LISAs
Lifetime ISAs are a great way to save up for either your first home or towards your retirement as you get a 25% boost from the government. Here are some of the top-paying accounts at the moment.
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What is a Lifetime ISA?
A Lifetime ISA is a type of savings account that lets you save for your first home or retirement. With a LISA, you can deposit up to £4,000 per year and you’ll get a cheeky little 25% added by the government. Who doesn’t love a bit of free money? We have more on how they work and some of the account restrictions in our full guide. You can get two types of LISA: Cash and Stocks and Shares.
Best Cash Lifetime ISAs
Cash LISAs work the same as Cash ISAs, as you save up cash into them and earn a set rate on it. You can also sometimes earn interest on uninvested cash within a Stocks and Shares ISA, which we’ve also listed here.
There aren’t many Cash LISAs on the market, but here are some of the top-paying ones available.
Stocks & Shares LISAs don’t have an interest rate – instead, you invest your money into stocks or funds to attempt to earn even more on your initial deposit, although that’s not guaranteed.
You can broadly get two types of Stocks & Shares LISAs — ones where you’re fully in charge of your investments and ones where you’re offered a range of “ready-made” portfolios to choose between. You can sometimes get a mix of the two.
Platform fees: Fees are reduced the more you invest. You're charged 0.45% on up to £250,000, 0.25% on the next £750,000, and 0.1% on the next £1,000,000. For amounts over £2m there is no charge.
