Help to save

Last updated - 16 November 2018

A new government scheme open to working people eligible for Working Tax Credits or Universal Credit gives you the chance to earn a tax-free bonus of 50p for every £1 saved.

Help to Save is a digital savings account that is secure, simple to use and flexible. Once an account is set up it will run for four years.

Over the four years, customers saving the maximum £50 per month will save £2,400, receiving a tax-free bonus of up to £1,200. The bonuses are paid into your bank account after two years and four years (up to £600 each).

There is no minimum balance or monthly payment needed to keep the account open – you can skip payments and withdraw money at any time, but this will affect the highest balance achievable and the eventual bonus you receive.

Each customer can have one account, and if you do close it you cannot open another. If you receive joint Universal Credit or tax credits, both partners can open an account.

Eligible customers have up to five years to open an account (until September 2023), so you can decide when the time is right for you.

To find out more, or to start saving, visit or call the Help to Save helpline on 0300 322 7093.