Skipton Building Society Cash Lifetime ISA Review: 2.05% AER (Sep 2026)

Protection

FSCS

Up to £120,000

Min balance

£1

Max balance

£4,000

Access

Age 60+ or first home

Interest paid

Annually

Transfers in

Accepted

25% withdrawal penalty - Funds can only be withdrawn penalty-free to buy your first home (property must cost £450,000 or less) or from age 60. Withdrawing for any other reason incurs a 25% government charge, equivalent to losing 6.25% of your own money.

Who Is This For

Learn more about Skipton Building Society

Savers happy with a £4,000 cap

Additional Info

Opened online only, then managed online or via the app. No introductory bonus. Maximum total investment of £1,000,000. Accepts the widest range of transfers in of any Lifetime ISA - including Help to Buy ISAs and Stocks & Shares ISAs - making it one of the few remaining routes out of a legacy Help to Buy ISA into a LISA. ISA allowance can be split across different ISAs with Skipton. The government adds a 25% bonus on contributions up to £4,000 per year - worth up to £1,000 annually. For full eligibility rules and first-time buyer conditions see our ISA Guide.

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Estimated returns with Skipton Building Society's Lifetime ISA

Want to know how much interest you will receive with Skipton Building Society's Cash Lifetime ISA?

Estimated interest

£1,000 saved

£20.50

At 2.05% AER

£2,000 saved

£41.00

At 2.05% AER

£3,000 saved

£61.50

At 2.05% AER

£4,000 saved

£82.00

At 2.05% AER

Estimated over one year, assuming the rate stays the same and interest stays in the account. Amounts outside this account's minimum or maximum balance are left out.

Our Expert Opinion on Skipton Building Society Cash Lifetime ISA

Skipton's Cash Lifetime ISA at 2.05% is worth a look if you are saving for a first home or retirement, with transfers in accepted and a low £1 minimum to get started. The 25% government withdrawal penalty is the critical catch here, and it is worth understanding that it claws back more than just the bonus - if you withdraw for any ineligible reason, you effectively lose 6.25% of your own contributions on top. If you want to shop around, Bath Building Society's Lifetime ISA is currently paying 2.60%, which is noticeably higher for the same wrapper.

Skipton Building Society Cash Lifetime ISA Review2.05% AER (Sep 2026)

Who Is This For

Additional Info

Estimated returns with Skipton Building Society's Lifetime ISA

Our Expert Opinion on Skipton Building Society Cash Lifetime ISA

3 alternatives to Skipton Building Society's Cash Lifetime ISA

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