UK Help to Save scheme

As seen in a reddit thread, this is the first I’ve heard (good or bad) about the Help to Save scheme.

Someone linked the government site quoting:

About Help to Save

Help to Save is a savings scheme backed by HM Treasury, so your savings are 100% secure.

You can only open an account if you’re receiving Working Tax Credit and meet all the eligibility criteria.

If you’re eligible for an account, you could earn a 50% bonus on the money you’ve paid in.

If you pay in £2,400 over 4 years and don’t make any withdrawals, you will earn the highest possible bonus of £1,200. All bonus money is tax-free.


Wow. Never heard of this and it sounds great.
It’s also available on universal credit as working tax credit is being withdrawn.

Think this is newer info

Irony is if you have £5000 in savings your universal credit is reduced

1 Like