Help to Save Calculator
Calculate your UK Help to Save bonus. Save up to £50 per month and earn a guaranteed 50% government bonus after year 2 and year 4. Shows total savings, bonus payments, and how Help to Save compares to Cash ISAs and LISAs. All figures in GBP.
The Help to Save bonus is calculated on your highest balance achieved, not all deposits. Year 2 bonus = 50% of highest balance in years 1-2. Year 4 bonus = 50% of the growth in highest balance from year 2 to year 4.
| Period | Monthly | Balance at End | Bonus Paid | Total Received |
|---|---|---|---|---|
| Year 1 | £50/mo | £600 | — | £600 |
| Year 2 (bonus paid) | £50/mo | £1,200 | £600 | £1,800 |
| Year 3 | £50/mo | £1,800 | — | £2,400 |
| Year 4 (bonus paid) | £50/mo | £2,400 | £600 | £3,600 |
Compare the Help to Save 50% government bonus against alternative savings products. The LISA 25% bonus is only available for first home purchases (under £450K) or retirement. Cash ISAs offer tax-free interest. Help to Save typically wins for eligible savers on low incomes.
| Product | Saved | Bonus / Interest | Total | Effective Return | Restrictions |
|---|---|---|---|---|---|
| Help to Save | £2,400 | £1,200 (govt bonus) | £3,600 | 50.0% | Must receive UC or WTC |
| Cash ISA (5.0%) | £2,400 | £262 (interest) | £2,662 | 10.9% | None (any UK adult) |
| LISA (first home) | £2,400 | £3,996 (25% govt) | £6,396 | 25.0% | Aged 18-39, first home ≤£450K |
How to Use This Help to Save Calculator
Select your eligibility status (Working Tax Credit or Universal Credit), enter your monthly savings amount (£1 to £50), and choose whether you plan to stay for the full 4 years or leave after 2 years. The calculator shows your total received including both government bonus payments.
What Is Help to Save?
Help to Save is a government savings scheme for people receiving Working Tax Credit or Universal Credit. You can save between £1 and £50 per month. After 2 years, the government pays a 50% bonus on the highest balance you reached. If you continue for a further 2 years (4 years total), you receive a second bonus of 50% on any growth in your balance during years 3-4.
How the Bonus Works
The bonus is 50% of your highest balance achieved — not simply 50% of all deposits. This means any month where you withdraw reduces the highest balance milestone and therefore reduces your bonus. Never withdraw during the scheme to maximise your bonus payments. Bonuses are paid into a separate bank account you nominate — not the Help to Save account itself.
Help to Save Bonus Formula
Year 4 Bonus = Growth in highest balance (year 4 vs year 2) × 50%
Maximum example (£50/mo, 4 years, no withdrawals):
Year 2 highest balance: £1,200
Year 2 bonus: £600
Year 4 highest balance: £2,400
Growth over year 2: £1,200
Year 4 bonus: £600
Total: £2,400 saved + £1,200 bonus = £3,600
Example: Full 4-Year Maximum Strategy
Sarah — Universal Credit Recipient, Saves Maximum £50/Month
| Monthly saving | £50 (maximum) |
| Year 2 balance | £1,200 |
| Year 2 bonus (50%) | £600 |
| Year 4 balance | £2,400 |
| Year 4 bonus (50% of growth) | £600 |
| Total saved | £2,400 |
| Total government bonus | £1,200 |
| Total received | £3,600 |
| Effective return | 50% on contributions |
Sarah's £2,400 of personal savings earns a guaranteed £1,200 bonus — a 50% return with no investment risk. This is one of the highest guaranteed returns available on any savings product in the UK, making it exceptional value for eligible savers.