Help to Save Calculator

Q: Who is eligible for Help to Save?

You can open a Help to Save account if you receive Universal Credit and had earnings in your last assessment period, or if you receive Working Tax Credit (or are entitled to WTC and receive Child Tax Credit). You must live in the UK. The scheme remains open for new accounts as of 2025/26.

Q: How is the Help to Save bonus calculated?

The bonus is paid in two stages. Year 2 bonus: 50% of the highest balance reached in the first 2 years. Year 4 bonus: 50% of any increase in the highest balance between year 2 and year 4. Maximum bonus: £600 at year 2 plus £600 at year 4 equals £1,200 total.

Q: Can I withdraw early from Help to Save?

Yes, you can withdraw any amount at any time with no penalty. However, withdrawing reduces your current balance, and since the bonus is based on the highest balance, you would need to save past your previous peak again to increase the highest balance for future bonus calculations.

Q: Help to Save vs Lifetime ISA — which is better?

Help to Save offers a higher bonus rate (50% vs 25%) with no withdrawal penalty, but has a lower cap (£50/month vs £333/month for LISA). LISA can be used for a first home or retirement but charges a 25% penalty for other withdrawals. If eligible for both and saving £50/month or less, Help to Save gives more free money per pound saved.

Calculate your 50% government bonus on Help to Save. Save £1–£50/month for 4 years and earn up to £1,200 in bonuses from NS&I. For Universal Credit and Working Tax Credit claimants with earnings.

Calculate your Help to Save bonus over 4 years

Monthly savings

Save between \u00A31 and \u00A350 per month

Save consistently each month?

Yes

Toggle off to see the Irregular Savings tab

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How to Use This Calculator

Bonus Calculator tab

Enter your monthly savings amount (between £1 and £50). The calculator projects your total savings and government bonus over the full 4-year Help to Save account. It shows the year 2 bonus (50% of your highest balance) and the year 4 bonus (50% of any increase in your highest balance between year 2 and year 4). Toggle "consistent savings" to see how regular deposits build your bonus.

Irregular Savings tab

Set a different monthly amount for each year to see how varying your deposits affects the bonus. The calculator tracks your highest balance month by month and shows the step-by-step bonus calculation. This is useful if your income fluctuates — for example, if you can only save £20/month initially but increase to £50/month later.

Help to Save vs LISA tab

Compare the Help to Save 50% bonus with the Lifetime ISA 25% bonus side by side. Enter a monthly amount and see the total value from each scheme over 4 years. HtS has a higher bonus rate (50% vs 25%) but a lower contribution cap (£50/month vs £333/month). If you're eligible for both, this tab helps you decide where to put your money first.

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The Formula

Help to Save uses a two-stage bonus calculation based on the highest balance your account reaches:

Year 2 Bonus = Highest Balance at Year 2 × 50%

Year 4 Bonus = (Highest Balance at Year 4 − Highest Balance at Year 2) × 50%

Total Bonus = Year 2 Bonus + Year 4 Bonus

Maximum: £600 (Year 2) + £600 (Year 4) = £1,200 total
(Achieved by saving £50/month consistently for 4 years)

The key concept is highest balance, not total deposits. If you save £50/month for 24 months, your highest balance is £1,200. If you then withdraw £500, your balance drops to £700 but your highest balance remains £1,200 — and the bonus is calculated on that £1,200.

However, because your balance is now £700, you need to save past £1,200 again before the year 4 highest balance increases. Withdrawals don’t lose your existing bonus entitlement, but they can reduce your future bonus.

Example

Priya — UC claimant earning part-time, saves £50/month for 4 years

Priya works part-time and claims Universal Credit. She earns £950/month and sets up a standing order for £50/month into her Help to Save account with NS&I.

Year 1–2: Building up savings

Monthly deposit£50

Total deposited (24 months)£1,200

Highest balance at year 2£1,200

Year 2 bonus (50%)£600

At the end of year 2, Priya receives a £600 bonus paid directly into her Help to Save account. She can withdraw this bonus immediately if she needs it.

Year 3–4: Continuing to save

Total deposited (48 months)£2,400

Highest balance at year 4£2,400

Increase from year 2 highest£1,200

Year 4 bonus (50% of increase)£600

Final result

Total saved by Priya£2,400

Total government bonus£1,200

Grand total£3,600

Priya turns £2,400 of savings into £3,600 — a 50% return guaranteed by the government. No other savings product available in the UK offers this rate of return for eligible claimants.

FAQ

What is Help to Save? ▼

Help to Save is a government-backed savings scheme run by NS&I (National Savings & Investments). It offers a 50% bonus on your savings over 4 years — the highest bonus rate of any UK savings product. You can save between £1 and £50 per month, and the government pays a bonus based on the highest balance your account reaches. The maximum bonus is £1,200 over 4 years. The scheme is specifically designed for people on lower incomes who receive Universal Credit or Working Tax Credit.

Who is eligible for Help to Save? ▼

You can open a Help to Save account if you receive Universal Credit and had earnings in your last assessment period, or if you receive Working Tax Credit (or are entitled to WTC and receive Child Tax Credit). You must live in the UK. Only one account per person. Joint accounts are not available, but both partners in a couple can each open their own account if they individually meet the eligibility criteria. The scheme remains open for new accounts as of 2025/26.

How is the Help to Save bonus calculated? ▼

The bonus is paid in two stages. Year 2 bonus: 50% of the highest balance your account reaches in the first 2 years. Year 4 bonus: 50% of any increase in the highest balance between year 2 and year 4. The bonus is based on the highest balance, not the current balance — so if you withdraw money, your highest balance figure is preserved. However, you would need to save past that previous peak again before the year 4 highest balance increases. Maximum bonus: £600 at year 2 + £600 at year 4 = £1,200 total.

Can I withdraw early from Help to Save? ▼

Yes, you can withdraw any amount at any time. There is no penalty or lock-in period — unlike a Lifetime ISA, which charges 25% on early withdrawals. However, withdrawing reduces your current balance. Since the bonus is based on the highest balance, a withdrawal does not affect the bonus you have already earned, but it means you would need to build back past your previous peak to increase the highest balance further. If you need the money, you can take it — but leaving it in maximises your bonus.

Help to Save vs Lifetime ISA — which is better? ▼

It depends on your situation. Help to Save offers a higher bonus rate (50% vs 25%) and no withdrawal penalty, but has a lower cap (£50/month vs £333/month LISA). LISA has a larger cap and can be used for a first home or retirement, but charges a 25% penalty for other withdrawals. If you are eligible for both and saving small amounts (£50/month or less), Help to Save gives you more free money. If you can save more and are targeting a first home purchase, LISA may deliver more total bonus. Many people use both simultaneously: HtS for accessible short-term savings and LISA for long-term goals.

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