Best Cash Lifetime ISAs in the UK

2 min Read Published: 12 Apr 2024

The best Cash Lifetime ISAs from the whole UK Savings Market!

SavingsChampion.co.uk monitors the whole UK savings market (that's over 4,000 accounts) to bring together the best buys available.

The following savings best buy tables are also available:

If you are considering a Cash Lifetime ISA to help you save to buy your first home, you may find Tembo's online tool helpful which shows you how to maximise the amount you could borrow, including by using government schemes. Tembo* is a mortgage broker that specialises in helping first-time buyers get on the property ladder. You can read our Tembo Money review for more information.

Two ways to always ensure you get the best savings rate

  1. Bookmark this page and regularly check our best buy tables, such as the one below.
  2. You can also sign up to the FREE rate tracker email alert which will monitor savings account rates for you. You simply enter your email address and the names of the savings accounts you currently have. Then, not only will the system tell you if you are getting a good deal, but it will continuously monitor the market for you and email you when there are better deals out there than your existing account. When using the tool make sure you enter the correct balance for each of your accounts as some deals out there offer tiered rates - whereby the interest rate paid is dependent on your account balance.

Best Cash Lifetime ISAs

Moneybox Tembo* Beehive Money Skipton Building Society Newcastle Building Society
Account name Cash Lifetime ISA Cash Lifetime ISA Online Lifetime ISA Online Cash Lifetime ISA Issue 4 Cash Lifetime ISA (Issue 3)
AER 4.40% 4.30% 3.50% 3.25% 3.00%
Minimum opening balance £1 £1 £1 £1 £1
How to manage the account

Mobile Banking

Mobile Banking Mobile Banking, Online Online Online, Post, Telephone
How to apply

Mobile

Mobile Mobile, Online Online Online
Account summary

Available via the Moneybox app only. Interest rate includes 0.75% introductory bonus for the first 12 months. Monthly 25% government bonus is paid if a deposit is made that month. 25% withdrawal fee unless used to buy first home or for retirement. Interest paid monthly and account is powered by partner bank Santander.

Available through the Tembo app only. A 25% government bonus is paid monthly if a deposit has been made that month. Access is subject to a 25% withdrawal charge, unless it is after the age of 60 or for the purchase of a first home, as defined by HMRC. Lifetime ISA transfers in are allowed. Interest is paid monthly. A 25% government bonus is paid monthly if a deposit has been made that month. Access is subject to a 25% withdrawal charge, unless it is after the age of 60 or for the purchase of a first home, as defined by HMRC.

 

Monthly 25% government bonus is paid if a deposit is made that month. 25% withdrawal fee unless used to buy first home or for retirement. Interest paid annually. A 25% government bonus is paid monthly if a deposit has been made that month. Access is subject to a 25% withdrawal charge, unless it is after the age of 60 or for the purchase of a first home, as defined by HMRC. Transfers in are allowed. This is not a flexible ISA. Interest is paid annually.
Financial Services Compensation Scheme Own Licence Shared Licence Shared Licence Own Licence

Shared Licence

Source: SavingsChampion.co.uk: Updated 12/04/2024 

If a link has an * beside it this means that it is an affiliated link. If you go via the link, Money to the Masses may receive a small fee which helps keep Money to the Masses free to use. The following link can be used if you do not wish to help Money to the Masses or take advantage of any exclusive offers - Tembo