The £3,600 figure refers to what eligible savers can build over four years by depositing up to £2,400 (£50/month) into Help to Save, plus a 50% government bonus worth up to £1,200 — total pot £3,600. Bonuses are paid at the end of year 2 and year 4 directly to your bank account.
- Eligibility widened (April 2025): Now all working Universal Credit claimants can open an account (the previous minimum-earnings threshold has been removed). Up to 550,000 more people are eligible.
- Scheme extended: You have until April 2027 to open an account and start saving.
- Latest scale: By April 2025, 575,200 people had opened accounts, depositing £588.2m; 94% pay in the monthly maximum. In April 2025 alone, 7,800 accounts were opened after the rule change.
- Save £1–£50 per month, flexible (you can skip months). Pay by debit card, standing order, or bank transfer.
- Bonus 1 (after year 2): 50% of your highest balance in years 1–2.
- Bonus 2 (after year 4): 50% of the increase between your highest balance in years 1–2 and your highest balance in years 3–4.
- Withdrawals allowed at any time (but may reduce your eventual bonus). Bonuses are tax-free and paid to your bank, not into the Help to Save account.
You can open Help to Save if you are:
- On Universal Credit and in work (no earnings threshold from April 2025), or on certain legacy benefits (Tax Credits were abolished; most claimants have moved to UC).
- A UK resident (special rules apply for Crown servants/armed forces posted abroad).
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- Check eligibility (UC in work).
- Open an account online (GOV.UK) or via the HMRC app — many users now open via the app and track deposits/bonuses there.
- Set a monthly standing order (up to £50) to hit the full £1,200 bonus potential.
If you save £50/month for 48 months (£2,400 total):
- After year 2, you could receive £600 (50% of your highest balance to that point).
- After year 4, you could receive another £600 (50% of the increase), taking total bonus to £1,200 and your overall pot to £3,600.
| Item | Detail |
|---|---|
| Monthly deposit limit | £50 (max), flexible months |
| Total saver deposits (4 yrs) | Up to £2,400 |
| Government bonus rate | 50% (two payments) |
| Max total bonus | £1,200 (paid after years 2 & 4) |
| Total potential pot | £3,600 (deposits + bonuses) |
| Eligibility expansion | All working UC claimants from Apr 2025 (≈ +550,000 eligible) |
| Apply-by window | Open accounts until April 2027 |
| Uptake/scale | 575,200 accounts; £588.2m deposited; 94% max monthly deposits; 7,800 accounts opened Apr 2027 |
If you’re a working Universal Credit claimant, Help to Save is one of the highest-impact, risk-free ways to grow a buffer: deposit up to £2,400 over four years and pocket a £1,200 tax-free bonus, taking your pot to £3,600.
With eligibility widened and the scheme extended to April 2027, now is the time to open an account, automate your monthly £50 where possible, and lock in both bonuses.
