Eligibility · Help to Save
Am I eligible for Help to Save?
In short. If you're getting Universal Credit (and have take-home pay of £1+ in your last assessment period) or Working Tax Credit, you can open a Help to Save account. Save up to £50 a month for 4 years and get a 50% bonus — up to £1,200 free.
Help to Save is a 4-year government-backed savings scheme. Bonuses are paid at year 2 and year 4 based on the highest balance reached, not your closing balance.
Last reviewed:
·Amount: 50% bonus on highest balance, paid at end of year 2 and year 4. Maximum total bonus £1,200 over 4 yearsYou likely qualify if…
- You're getting Universal Credit and earned £1+ in your last assessment period from work
- Or you're getting Working Tax Credit (or are entitled to it under the Child Tax Credit award)
- You live in the UK (or are a Crown servant / spouse posted overseas)
You likely don't if…
- You're not on UC or WTC
- You're a UC claimant with zero earnings in the last assessment period
- You stop being eligible after opening — you can still keep saving and getting bonuses
How to check and claim
- 01Help to Save accounts are opened via the gov.uk Help to Save service or the HMRC app
- 02Eligibility details and current rules are at gov.uk/get-help-savings-low-income
- 03Accounts opened while eligible remain valid for the full 4 years, even if UC/WTC entitlement stops later
FAQ
- Does Help to Save affect my benefits?
- The bonus and your savings don't reduce Universal Credit or Working Tax Credit. Savings above £6,000 can reduce UC; Help to Save savings count towards that threshold but the bonus does not.
- Can I withdraw before the bonus?
- Yes, but bonuses are based on the highest balance you achieved, so withdrawing won't directly reduce the bonus — but you'd need to save back up to maintain the highest balance.
- What happens after 4 years?
- The account closes after 4 years. You can't reopen it, but you keep all the money saved plus bonuses.