When you first opened your Help to Buy ISA, you could deposit a lump sum of up to £1,200. The consequent months you could save up to £200 a month.
When you close your ISA, you will receive 25% of your total savings as a bonus from the Government, so for every £200 you save, you will receive a Government bonus of £50.
The minimum Government bonus you can claim is £400, so you need to have at least £1,600 in your Help to Buy ISA when the time comes to close it. The maximum bonus you can receive is £3,000, for which you’ll need to have saved £12,000. You can continue to save money in your Help to Buy ISA once you reach £12,000, however you won’t get more as a bonus on top.