Saving
advice
Read through our useful tips that help you
make the most of your money.
What is a Help to Save bank account?
The UK government’s Help to Save scheme is a savings scheme designed to assist low-income earners in saving money.
It provides a tax-free savings account, as well as a government bonus on savings. This bonus is paid at the end of the second and fourth years of the scheme and can be worth up to £1,200.
Who is eligible for the Help to Save scheme?
To be eligible for the Help to Save scheme, you must be receiving one or more of:
- Working Tax Credit
- Child Tax Credit – and you’re entitled to Working Tax Credit
- Universal Credit and you (with your partner if it’s a joint claim) had take-home pay of £658.64 or more in your last monthly assessment period.
You also need to be living in the UK, but you can apply for an account if you’re living abroad and you are either a:
- Crown servant or their spouse or civil partner
- Member of the British armed forces or their spouse or civil partner.
Applying for the Help to Save scheme
You'll need to apply for the Help to Save scheme using the government gateway. For this, you need a Government Gateway user ID and password to apply. If you do not have a user ID, you can create one when you apply. You’ll also need to provide your UK bank details when you apply.