Should the highest balance not increase, then the saver would not earn a final bonus.

With the most a person can pay into the account each calendar month being £50, this works out at a maximum of £2,400 over four years.

Gov.uk explains that the most a person can earn from their savings in four years is £1,200 in bonus money.

“Frankly it’s totally unbeatable if you’re eligible and it goes slap bang at the top of my rate-o-meter,” Mr Lewis said tonight.



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