We are pleased the Help to Save scheme has been shortlisted by the Smarter Working Awards for the category of Data & Interoperability. The winners will be announced by Gov News Direct on 26 November 2020. Read more
Help to Save is a government-backed savings account to help working households on low incomes to build their savings. It supports people to become regular savers, helping families and individuals prepare and plan for the future. NS&I Government Payment Services (NS&I GPS) work with HMRC, HMT and DWP to deliver the scheme.
With Help to Save, customers can save between £1 and £50 a month and receive a 50% bonus on their savings. The account is an easy, safe and secure way for eligible Working Tax Credit and Universal Credit customers to receive government support to start saving.
In July 2020 more than 222,000 people had opened accounts with Help to Save and deposited over £85 million.
Martin Lewis from MoneySavingExpert.com said:
“It’s a very clever scheme and one that will work for many people.”
Customers wanting to find out more about Help to Save, and apply should visit gov.uk/helptosave.