Get a 50% bonus on your savings

Sign up for Help to Save

Have you heard about Help to Save? It’s a new government savings scheme, designed to help working people on low incomes build up their savings. You pay anything from £1 to £50 a month into a Help to Save account. At the end of two and four years, the government will give you a 50% tax-free bonus (to a maximum of £1,200).

So if you save the maximum of £2,400 over four years without making any withdrawals, you’ll receive a bonus of £1,200 to spend how you like. You can still make withdrawals if you need to and you don’t have to save every month.

How does it work?

You can add up to £50 a month to your Help to Save account by debit card or standing order. After two years, the first 50% bonus will be paid into your bank account (not your Help to Save account). You can then decide to stop saving or continue for another two years. You’ll then get another 50% bonus at the end of the four years.

Am I eligible for Help to Save?

You need to be a UK resident and either:

  • Claiming Universal Credit and have a household income from employment of £542.88 or more for the last monthly assessment period
  • Receiving working tax credit or child tax credit

Once you've opened an account, you can still keep saving even if you are no longer eligible for universal credit or working tax credit.

Can I withdraw cash?

You can withdraw cash at any time to your nominated bank account. If you withdraw all of your cash within the first two years, then you should still leave the account open. This is because the bonus is paid on the highest balance you’ve had in the first two years. If there’s nothing left in your account at the end of year two, you might still get a bonus payment.

How do I apply?

It takes just a few minutes to open an account. Simply go to or use the HMRC app if you have it. You can also call the HMRC helpline on 0300 322 7093 and they will help you set up an account. You’ll need your national insurance number, bank account details and your Government Gateway account. If you don’t have a Government Gateway account, you can create one as part of your application.

How long will this scheme run for?

You have until September 2023 to open an account. Once it’s opened, you can keep it for up to four years. Help to Save is backed by the Government, which means your money will be safe. For more information about the scheme, visit