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Help to Save

Tens of thousands of people on low incomes in Scotland could benefit from the UK Government’s Help to Save account that offers a 50% bonus.  Watch the video below to find out how it works:

Help to Save is a new type of savings account you can have with the UK Government.

It allows eligible people entitled to Working Tax Credit, Child Tax Credits or receiving Universal Credit to get a bonus of 50p for every £1 they save over a period of 4 years.

31,600 customers in Scotland have opened a Help to Save account between September 2018 and March 2023, with more than £25.6 million paid into accounts during that time.

Nearly 383,000 account holders across the UK have made a deposit into their accounts and the average monthly deposit is £48. More than 90% of savers invest the maximum £50 each month.

It takes less than 5 minutes to open an account. Customers can check eligibility and open an account on GOV.UK or via the HMRC app.

Visit the Help to Save website - external link

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