Deposits and withdrawals
Make deposits by electronic bank transfer or cheque. Additional deposits can be made, subject to not exceeding your annual LISA allowance. You can transfer your current or previous LISA subscriptions. Existing customers can make a deposit from their existing Paragon accounts (subject to account terms and conditions).
Withdrawals for anything other than the purchase of your first home or retirement after your 60th birthday, are subject to the 25% government withdrawal charge.
Nominated bank account
To help keep your savings safe, your Paragon accounts must be linked to a nominated bank account. This account must be a UK current account in your name, and we will only accept money from and send your savings to your nominated bank account .
Closing your account
If you change your mind, you have the right to close your account within 30 days of us receiving your opening deposit. Your account will be closed if it falls below the minimum required balance.