Help to Save - earn 50p for every £1 you save!
Posted by: Sharon MacPherson on March 12 2019 | Tagged:
Help to Save is an exciting new Government savings offer, designed to help working people on low incomes to build up their savings. It will support people to become regular savers, helping families and individuals prepare and plan for the future through a generous 50% tax-free bonus.
The accounts are government-backed, simple to open, and flexible. Savers can pay in from £1 to £50 each calendar month. Customers making the maximum deposit of £2,400 over four years without making withdrawals will receive government bonuses of £1,200.
Who is eligible for Help to Save?
To be eligible for Help to Save, customers must be a UK resident and:
be receiving Working Tax Credit; or
have a nil award of Working Tax Credit but receiving Child Tax Credit; or
be in receipt of Universal Credit with a minimum individual or household earnings equivalent to 16 hours times the National Living Wage in their last income assessment period (that's £542.88 during the financial year 2018-19).
Opening an online account is simple, you can do this at gov.uk/helptosave