HSTM04200 | Bonus: amount of bonus

The amount of bonus is nil if the account is closed or otherwise ceases to be a Help-to-Save account before the end of a period in respect of which a bonus would otherwise be payable.

The bonus is calculated at a rate of 50 pence for every £1 of qualifying balance achieved in first bonus period, and at a rate of 50 pence for every £1 of qualifying balance achieved at the end of the maturity period. In effect, the bonus paid equates to 50% of the qualifying balance in each period.

The qualifying balance is the highest balance of an account achieved in that period.

In calculating any qualifying balance, the account holder does not meet the UK connection condition.