Martin Lewis recently encouraged millions of people currently claiming Universal Credit or Working Tax Credits to take advantage of a UK Government savings scheme.
The Help to Save account is designed specifically for people on a low income, or claiming certain benefits from the Department for Work and Pensions (DWP) or HM Revenue and Customs (HMRC), allowing them to earn a bonus of 50p for every £1 they save over a period of up to four years.
It offers savers the potential to earn a maximum bonus of £1,200 over the four-year period, but how much you get back depends entirely on how much you put in each year as the 50% bonus is based on your highest total savings amount.
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