Enter your age, what you’ll pay in each year and a rate, and choose whether you’re saving for a first home or for later life. The calculator shows the balance you’d reach, how much of it is government bonus, and what you’d get back if you had to take it out for another reason.
The calculator uses whole years of age and a rate that never changes, and doesn’t take off any charges. For a cash Lifetime ISA, a realistic rate is the Bank of England’s average cash ISA rate: 2.01% (variable) or 4.40% (1-year fixed) in August 2026. Stocks and shares returns aren’t guaranteed and can be negative.
How the bonus adds up
The government adds a 25% bonus to what you pay in, up to £1,000 a year. So £4,000 a year becomes £5,000 before any interest. The earlier you start, the more years of bonus you can collect: payments stop at 50, and you can only open one before 40.
What the withdrawal charge costs
You can take money out of a Lifetime ISA without a charge to buy your first home, from age 60, or if you're terminally ill with less than 12 months to live; any other withdrawal, or a transfer to another type of ISA before 60, costs a 25% charge on the whole amount you take out, which takes back more than the bonus.The charge is taken from the whole amount you withdraw, bonus included, so it takes back more than the bonus. On GOV.UK’s example, £800 paid in plus £200 of bonus makes £1,000; withdrawing it all for another reason costs £250, leaving £750, which is £50 less than you paid in. More on the charge in withdrawing from a Lifetime ISA.
Related guides
- ISAs guide: the ISA types, the allowance and the main choices in one place
- Lifetime ISA guide: the rules, first homes, and LISA or pension
- Choosing a Lifetime ISA: cash or stocks and shares
- ISA calculator: growth in any ISA
- How to save for a house deposit: the first-home rules in full