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An extra boost for later life

Putting away funds now, for your future, with the Newcastle Cash Lifetime ISA.

The potential of a Lifetime ISA means that an 18-year-old saving £77 per week until their 50th birthday can earn the maximum £32,000 government bonus.

And if you have a change of heart and no longer wish to save for your first home, your savings could then be used for later life. 

Maybe a once-in-a-lifetime trip to tick off things on your bucket list, or a healthy nest egg to complement a pension pot – saving now will ensure you make the most out of your later years.

What you need to know, if you’re saving for retirement


  • You must be 18 or over but under 40 years old when you open and make the initial investment in your Lifetime ISA.
  • You must be a UK resident, unless you or your spouse/civil partner is serving overseas for the UK Crown.
  • You’ll need to make your initial deposit within 30 days of account opening – we’ll email you confirmation of this. Please note you must be under 40 years old at the time we receive your initial deposit.


  • You’ll be able to access your Lifetime ISA savings penalty free after you turn 60.
  • You can pay into your Lifetime ISA up until your 50th birthday, at this point you’ll continue to earn interest but you won't receive any additional government bonus.


You should consider if saving in a Cash Lifetime ISA is the right option for saving towards your retirement. If you are employed, you should consider the potential availability of a workplace pension scheme through an employer, which provides employer matched contributions, and your tax position. 

If you save in a Lifetime ISA instead of enrolling in, or contributing to, a pension scheme from your employer or personal pension scheme:

  • You may lose the benefit of contributions by an employer (if any) to that scheme; and
  • Your current or future entitlement to means tested benefits may be affected (these depend on the amount of income and capital you have, which includes savings).
  • You can apply online for each of our savings accounts – simply follow the links at the bottom of each product page. 
Tax-free PA/AER

Tax-free refers to the contractual rate of interest payable, where interest is exempt from income tax. The tax information provided is based on the current law and HM Revenue & Customs practice, both of which may change. AER stands for Annual Equivalent Rate and shows what the interest rate would be if interest were paid and added to your account each year.

Newcastle Cash Lifetime ISA

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