The amount will be 50 percent of the highest balance saved.
Fast forward to after four years, and the final bonus will be paid, if the account holder continued to save.
This will be 50 percent of the difference between two amounts:
- The highest balance saved in the first two years (years one and two)
- The highest balance saved in the last two years (years three and four).
If the highest balance does not increase during the latter two years, a final bonus can’t be earned.
The tax-free money isn’t paid into the bank account. Instead, it is paid into the account holder’s bank account.
