Came across this and thought it may be of interest to those who are eligible: Help to Save Scheme

[IlonaM]

Came across this and thought it may be of interest to those who are eligible: Help to Save Scheme:

Direct link to Help to Save Scheme: https://www.gov.uk/get-help-savings-low-income

'Launched back in 2018, the Help to Save schemes offers low income earners, claiming Universal Credit and other benefits, a savings boost.

It pays a 50 percent bonus on their savings, up to £1,200. To get the maximum £1,200, each eligible person in the household will need to save £50 a month for four years.

With the bonus, this will increase your cash saving to £3,600, the equivalent of saving £75 per month. If there are two people who can open an account each, the totals will be doubled.

The problem is, not many know they are eligible for the scheme. Since its launch around 270,000 people are thought to have opened a Help to Save account.

So who can open an account?

Well you can if you live in the UK and receive one of the following benefits:

Work tax Credit

Child Tax Credit

Universal Credit

Your eligibility will be checked during an application process. If you are eligible, there are two ways you can open an account.

Go to the Help to Save page on gov.uk, where it will ask you to sign into your government Gateway account. Alternatively call 0300 322 7093 and the HMRC helpline advisors will assist you with setting up an account.''

Source: https://www.msn.com/en-gb/money/other/dwp-warns-millions-of-brits-not-to-miss-out-on-cash-boost-worth-100s/ar-AA168ywt?rc=1&ocid=winp1taskbar&cvid=105454119c3f40dba6b037bb10b3bfeb

Direct link to Help to Save Scheme: https://www.gov.uk/get-help-savings-low-income