Help to Save in 2026: the state adds 50% to savings for people on a low income

Help to Save is a government-backed savings account for people on a low income who receive Universal Credit. According to GOV.UK, it pays a bonus of 50p for every £1 you save over four years — effectively 50% on top of what you put away.

How much can you save?

You can pay in from £1 up to £50 each calendar month. You do not have to pay in every month, and you can skip months, but money you withdraw reduces your final bonus because it is based on your highest balance. You can pay in as many times a month as you like, as long as the total stays within £50.

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How and when is the bonus paid?

Bonuses are paid twice: at the end of the second year and at the end of the fourth year. The first bonus is based on your highest balance in the first two years. The second is based on how much your highest balance grows in the second half. This rewards people who save steadily and do not withdraw.

Who can open a Help to Save account?

The account is open to certain people receiving Universal Credit. The exact conditions are on the GOV.UK eligibility page; generally your earnings in your latest assessment period are what count. You can only have one Help to Save account.

Can you take money out?

Yes, the money is yours and you can withdraw at any time. But because the bonus is tied to your highest balance, withdrawing reduces your future bonus, so the account is best treated as an untouchable reserve.

Does it affect your benefits?

Savings in Help to Save can count towards how some benefits are calculated, so if you build up a large balance it is worth checking in advance how it affects Universal Credit and other support.

For families who find it hard to save, a 50% bonus is exceptionally generous — unmatched by any ordinary savings account. Even small, regular deposits grow into a meaningful sum with the bonus over four years.