Help to Buy ISA calculator: How you can work out how much your savings bonus will be

The Help to Buy ISA is no longer open to new savers, however it’s still possible for those with an account to continue putting savings in. There’s a deadline for doing this, however, and it falls at the end of November 2029.

To kickstart savings, savers could deposit up to £1,200 in the account in the first month.

There are also upper and lower limits in terms of the bonus.

The minimum government bonus that can be paid is £400.

As such, this means that at least £1,600 must be saved in the account before a person can claim the bonus.


For those looking to do this sooner rather than later, the saver could do this by depositing the maximum possible amount in their first month and then £200 in two subsequent months.

At the other end of the spectrum, the maximum government bonus one can receive is £3,000.

To do that, they would have needed to have saved £12,000 in the account.

This would take a minimum of 55 months – including the first month with the maximum lump sum deposit.

This service will then state how much the bonus will be, as well as working out what the total savings plus bonus would be.

It also highlights where the savings fit in terms of the upper and lower limitations when it comes to getting the bonus.

A Help to Buy ISA differs to the Lifetime ISA – which is another account offering a 25 percent government bonus.

The latter is something which Money Saving Expert founder Martin Lewis has spoken about this week.


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