Get help with savings if you鈥檙e on a low income (Help to Save)
How it works
Help to Save is a type of savings account. It allows certain people entitled to Working Tax Credit or receiving Universal Credit to get a bonus of 50p for every 拢1 they save over 4 years.
Help to Save is backed by the government so all savings in the scheme are secure.
This guide is also available in Welsh (Cymraeg).
How payments work
You can save between 拢1 and 拢50 each calendar month. You do not have to pay money in every month.
You can pay money into your Help to Save account by debit card, standing order or bank transfer.
You can pay in as many times as you like, but the most you can pay in each calendar month is 拢50. For example, if you have saved 拢50 by 8 January you will not be able to pay in again until 1 February.
You can only withdraw money from your Help to Save account to your bank account.
How bonuses work
You get bonuses at the end of the second and fourth years. They鈥檙e based on how much you鈥檝e saved.
What happens after 4 years
Your Help to Save account will close 4 years after you open it. You will not be able to reopen it or open another Help to Save account. You鈥檒l be able to keep the money from your account.
You can close your account at any time. If you close your account early you鈥檒l miss your next bonus and you will not be able to open another one.
Sign in
Sign in to your Help to Save account if you already have one.