article_snippet: £1,000 Interest people will now be able to earn on £1,000 Interest people savings tax-free .
article_snippet: The accounts will work like a traditional Isa, with interest paid out by banks and building societies tax-free.
article_snippet: interest paid out by banks and building societies tax-free will be available to new account-holders for four years – but once opened there is no limit on how long someone can save for.
article_snippet: Savers can make an initial deposit of £1,000 when Savers open The new Isa, but after this can only pay in a maximum of £200 a month.
article_snippet: Savers must be 16 or over to open a Help to Buy The new Isa.