Brits could earn some extra cash for free by making the most of a particular savings account.
According to the most recent government data (2020-2021), only 553,000 adults contributed to a Lifetime ISA in order to either save money towards their first home deposit or for their retirement. A LISA pays out a 25 per cent bonus on savings made up to £4,000 each tax year, equating to £1,000 each year.
Any adult between the ages of 18 to 39 can open up the account while money can be paid into it until the account holder turns 50. Following this, the money can be withdrawn to use towards a deposit for a first home, or for retirement once the holder turns 60, the Mirror reports.
