Help to Save 50% Guaranteed Interest For Low Earner Savings

Published / Last Updated on 10/03/2021

The Government launched the Help to Save scheme for low income savers in 2018.  The Help to Save is available until September 2023.

Help to Save Eligibility – if you match any one of the following

  • Claiming/receiving working tax credit
  • Entitled to working tax credit or child tax credit (even if not claiming)
  • Claiming universal credit and earned over £604.56 in the last month of the benefit assessment

How Help to Save Works

Help to Save is a 4 year government supported savings plan with a maximum savings amount of £50pm (you can save less than this).

You can save between £1 and £50 and this DOES NOT have to be every month.  For example you can save £1 on month 1 and then make no further savings under month 48 and save £10 if you wish.

An overall bonus of 50p for every £1 you save will be added at the end of 4 years.  Bonuses are added in part after 2 years and 4 years.

You can withdraw any money saved/deposited at any time. 

If you withdraw savings before bonuses re added at year 2, you will only get back what you have saved.

If you withdraw savings after 2 years, you will keep any bonuses added at the 2 year anniversary.

The final bonus is added at the end of year 4, whether you have just £1 in your account or 4 years X £50pm = £2,400 meaning a bonus of £1,200.

How to Open

You will need your government gateway login details and then visit

The latest you can open an account is September 2023.

What if I come off benefits?

You are still free to keep and put further savings in your Help to Save Account


If you qualify, just make sure you open an account even if you just have a £1.  At some point you may be able to save more over the coming 4 years and a 50% bonus on top of anything that you save over the period is a massive bonus.  It’s 50% FREE money.

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