Glossary · UK
What is Help to Save?
UK low-income savings scheme — 50% government bonus on up to £50/month.
Full Definition
Help to Save is a UK government scheme for working people on low incomes. Save up to £50/month for 4 years and receive a 50% government bonus. Maximum total bonus: £1,200. Eligibility: claiming Universal Credit (working 16+ hours/week earning £793+/mo) or Working Tax Credit. Open via gov.uk/get-help-savings-low-income. Bonus paid at end of year 2 (£600 max) and year 4 (£600 max). Withdraw funds anytime without penalty but bonus calculated on highest balance reached. Scheduled to close to new applicants on 5 April 2027.
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Disclaimer: Definitions are for guidance only. For decisions about your tax, savings, property or pension situation, always consult a qualified professional or refer to gov.uk.