Newcastle Building Society has launched a lifetime ISA at variable rate of 1.10%.
The tax free lifetime individual savings account can help first-time buyers saving for a deposit and those saving for retirement, attracting a 25% government bonus on up to £4,000 saved each tax year.
Stuart Miller, customer director at Newcastle Building Society, said: “Helping people own their home and plan for the future is core to our purpose, and Lifetime ISA helps both these sets of savers.
“Encouraging and rewarding personal saving is a key step in starting to address the culture of easy credit and consumer debt that has become prevalent and ultimately reduces the ability of individuals, couples and families to save.”
Customers who are interested in opening a cash LISA with Newcastle Building Society can open one online with £1.