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Make the most of your savings with a Lifetime ISA

Whether you’re saving for your first home or saving for retirement, with a Lifetime ISA you can earn a 25% tax-free government bonus.

New Lifetime ISA?

Apply now to open and ​manage your account online.

Apply online

Want to transfer a LISA?

Transfer your existing Lifetime ISA to Paragon.

Transfer LISA

Not only do you not pay any tax on the interest you earn, you also earn a 25% government bonus on everything you deposit between the ages of 18 to 50.

That means you can earn interest on the savings you deposit, as well as the 25% government bonus. All whilst paying no tax on it, so keeping more of your earnings for the big things in life.

To apply for a LISA you need to be a UK resident aged 18 to 39. However, you can continue to top up your savings every tax year until the age of 50 and still receive the government bonus.

So, if you max out your LISA each year between the ages of 18 and 50, you could earn up to £32,000 from the government bonus alone.

Is a Lifetime ISA best for you?

  • Open a new LISA between 18-39 years old​
  • Transfer an existing LISA​
  • Save with a 25% government bonus on your deposits
  • Use your funds to buy your first home, or towards retirement

Account summary

Ready to apply?

What you will need

  • Your contact details
  • Your email address
  • Details of the UK current account, in your name (either as sole or joint holder) that you would like to set up as your nominated bank account
  • Existing LISA account details if transferring

New Lifetime ISA?

Apply now to open and ​manage your account online.

Please read the account summary and terms & conditions before applying.

Want to transfer a LISA?

Transfer your existing Lifetime ISA to Paragon.

About your Lifetime ISA

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.


Paragon Bank PLC is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Registered in England number 05390593. Registered office 51 Homer Road, Solihull, West Midlands B91 3QJ. Paragon Bank PLC is registered on the Financial Services Register under the firm reference number 604551