Help To Save Government Scheme: What it is and How it Works

Updated November 2026.

Help to Save is a government scheme that helps people on low incomes build savings. If you’re eligible, the government adds a 50% bonus to what you save over 4 years, up to £1,200. The scheme is open to new savers until at least April 2027.

Who can open a Help to Save account?

• People claiming Universal Credit who (alone or with a partner) earned at least £1 from work or self-employment in their last monthly assessment period.

Tax credits ended in April 2025, so most people who used to qualify through Working Tax Credit now qualify through Universal Credit instead.

How does it work?

• You can pay in between £1 and £50 each calendar month, but you don’t have to pay in every month.
• You can pay in by debit card, standing order or bank transfer.
• You can pay in as many times as you like each month, up to the £50 maximum.
• You can withdraw money, but only into a bank account.

Bonuses are paid at the end of year 2 and year 4. After 2 years, you get 50% of the highest balance you reached in those 2 years. After 4 years, you get a final bonus of 50% of the difference between your highest balance in the first 2 years and your highest balance in the last 2 years.

If your highest balance doesn’t increase in years 3 and 4, you won’t get a final bonus. The most you can pay in over 4 years is £2,400, earning up to £1,200 in bonuses, for a maximum total of £3,600. The account closes after 4 years.

Frequently Asked Questions

Will it affect my benefits?

Savings of £6,000 or less don’t affect your Universal Credit. A Help to Save account holds a maximum of £3,600 including bonuses. Check how your total savings affect any other benefits you receive.

Can you withdraw money?

Yes, but withdrawing can make it harder to:

• Grow your highest balance (up to £600 a year)
• Earn the biggest possible bonus (up to £300 a year)

How can I apply?

You need a Government Gateway user ID and password. If you don’t have one, you can create one when you apply.

To apply for, or sign in to, a Help to Save account, click here.