Key facts (2026): Help to Save is a government savings scheme that pays a 50% bonus on savings for eligible claimants. You can save £1–£50/month for up to 4 years. The maximum bonus is £1,200 (50% of the maximum £2,400 saved over 4 years). The scheme is available to people receiving Universal Credit or Working Tax Credit.
Help to Save is one of the most generous savings incentives in the UK — a guaranteed 50% return on your savings, backed by the government. Yet it is significantly underused, with many eligible claimants unaware it exists. If you receive Universal Credit or Working Tax Credit, opening a Help to Save account is one of the best financial decisions you can make.
How Help to Save Works
You save between £1 and £50 per calendar month. After 2 years, you receive a 50% bonus on the highest balance reached — not just what you have saved in the current month. After another 2 years, you receive a second 50% bonus on the difference between the balance at the end of year 4 and the balance at the end of year 2 (or zero, whichever is higher). Maximum total bonus: £1,200 over 4 years on maximum savings of £2,400. The bonus is paid into your bank account, not your Help to Save account.
Eligibility for Help to Save 2026
You qualify if you: receive Working Tax Credit; receive Child Tax Credit (and are eligible for Working Tax Credit); or receive Universal Credit and your household earned at least £793.17 in your last UC assessment period. You must be a UK resident. The account must be opened before 5 April 2027 under current rules — this deadline may be extended.
Important Rules to Be Aware Of
You can withdraw money at any time, but withdrawals reduce your highest balance and therefore reduce your eventual bonus. The strategy to maximise the bonus is to save consistently and avoid withdrawing until after the bonus is paid at year 2 and year 4. If you stop receiving eligible benefits during the 4-year term, you keep the account and any bonuses already earned — you just cannot make new deposits once ineligible.
Our Verdict
Help to Save offers a guaranteed 50% return — the best risk-free return available anywhere in the UK financial system. If you are eligible, open an account immediately at gov.uk/get-help-to-save. Save the maximum £50/month if you can afford it — the £1,200 bonus over 4 years is equivalent to saving an extra year's worth of contributions for free. Even saving £10–£20/month produces a meaningful tax-free bonus.
Frequently Asked Questions
What is Help to Save UK?
A government savings scheme paying a 50% bonus on savings for Universal Credit and Working Tax Credit claimants. Maximum £1,200 bonus over 4 years.
Who qualifies for Help to Save?
People receiving Working Tax Credit, eligible Child Tax Credit recipients, and Universal Credit claimants who earned at least £793.17 in their last assessment period.
How do I open a Help to Save account?
Apply at gov.uk/get-help-to-save using your Government Gateway login. The account is provided by NS&I.
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Disclaimer: For informational purposes only. Verify with official sources before making decisions.
Last updated: April 2026 · Author: Chandraketu Tripathi
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