Earn 5.09%* AER variable interest on cash with a Lifetime ISA

Help make buying your first home a reality with a Dodl investment Lifetime ISA.

Plus, get interest on cash not yet invested – so you can learn about investing, as your money earns for you.

 

*The interest earned on cash will be 4.84% AER variable from 1 December 2024.

Preview of Dodl app showing demo LISA account

What’s an investment Lifetime ISA?

A Lifetime ISA (LISA) is your first-home-buying or retirement-boosting investment account! This page covers some of its most important points, but make sure you read its key features before opening one with Dodl.

 

Read the key features

How do LISAs work?

Grow your savings

Being an investment account means you have the opportunity to grow your Lifetime ISA savings by investing them in your choice of funds, themes and shares.

Tax-free

And because it’s a type of Individual Savings Account (ISA), any investment growth or income made is tax free! (Tax and ISA rules can change in future.)

For your first home or retirement

You can withdraw your Lifetime ISA savings, charge-free, for a deposit on your first home (up to £450,000) or retirement from age 60.

With a lovely 25% bonus

It comes with a generous 25% government bonus on the amount you pay into it, with the maximum bonus each year being £1,000.

Get your cash working for you

Deciding where to invest your money takes time. That’s why we’ll pay you 5.09% AER variable interest (4.84% AER from 1 December 2024) on any cash in your Lifetime ISA that’s not yet invested.

So, you can learn more about how you want to invest, all while your money earns interest for you.

Read more about interest

Know the Lifetime ISA limits

  • You can only open a Lifetime ISA if you're below the age of 40 (unless you're opening it to transfer an existing Lifetime ISA in).

  • You can only pay into your Lifetime ISA up to the age of 50.

  • You can pay in up to a maximum of £4,000 to a Lifetime ISA each year (known as the Lifetime ISA allowance). Anything you pay in also counts towards your overall ISA allowance of £20,000.

  • You'll need to have paid into your Lifetime ISA for a minimum of 12 months before you can withdraw it charge-free to buy your first house.

  • If you save into a Lifetime ISA instead of your workplace pension you'll miss out on your employer’s pension contributions, and your entitlement to means-tested benefits could also be affected.

Last but not least!

If you withdraw cash from your Lifetime ISA before age 60 and aren't using it to buy your first home, you’ll have to pay the 25% government withdrawal charge on the amount you take out. That means you could get back less than you paid in.

Why choose a Dodl investment LISA?

Because Dodl keeps things simple. You can open your LISA and start your investing journey with as little as £25 a month. And here are just a few more reasons…

  • Part of AJ Bell

    You get all the AJ Bell experience and expertise, squeezed into one easy-to-use, no-nonsense investment app.

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    AJ Bell logo

  • Low-cost investing

    Invest for less with just a 0.15% account charge - making Dodl one of the best value investment apps around.

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    Piggy bank icon on red background

  • Hassle-free choices

    Keep the choice but lose the hassle, with Dodl’s straightforward range of AJ Bell funds, themed investments and shares.

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    Phone preview showing Dodl investment range in the app

    While investing with Dodl is…a doddle, it carries risk. The value of your investments can go down as well as up and you could end up with less than you put in.

    Investment LISA charges

    Like all Dodl accounts, you'll only pay one simple low-cost charge for your investment Lifetime ISA. Here's how it works.

    How much?

    0.15% of the value of your investments per year (min £1 per month)

    How will I pay it?

    It’s collected from the available cash in your investment Lifetime ISA once a month, so it’s spread over the whole year.

    Anything else?

    The investments you choose have their own charges to buy/sell or hold them.

    More on charges

    How to get started

    It’s as easy as 1-2-3 to get started with a Dodl investment Lifetime ISA.

    1

    Open your account

    Sign up and open your shiny new Lifetime ISA in minutes

    2

    Add cash to it

    3

    Start investing

    Build up your tax-free investment portfolio from the range of funds, themes and shares

    Get started today

    Help’s on hand

    Head to the help centre to have all your questions answered. And you can chat to Team Dodl anytime in the app or at hello@dodl.co.uk.

    Get a little help

    You can always learn more before (and after) taking your first investing steps with Dodl. Pop the kettle on, get comfortable and head to the Dodl learn tab, where you can master the basics of investing.

    Get started today

    
    
    It's important to know

    You have to be a UK resident for tax purposes to open an account with Dodl.

    The past performance of investments isn't an indicator of their future performance and their value can go down as well as up. This means you could get back less than you originally invested. 

    Dodl doesn’t offer any advice so if you’re not sure about the risks involved with investing, you should speak to a suitable financial adviser. 

    How you're taxed depends on your circumstances, and tax rules can change in future.