Mr Lewis said: "All those on Universal Credit because of the pandemic and are hoping to come off, go and open one now while you can."Help to Save is a government savings account aimed at people on low incomes.
It is available to people who receive Working Tax credit, if you are entitled to Working Tax Credit and get Child Tax credit or if you claim Universal Credit. Users can save between £1 and £50 each month and will get a bonus of 50p for every pound saved over four years.A final bonus will be paid after four years based on 50% of the difference between the highest balance in year two and in year four.If you pay in £25 every month for two years and do not withdraw any money, your highest balance will be £600.
If your Help to Save cash pushes you over £6,000 in personal savings, it could affect your eligibility for some benefits.but you also need a government gateway user ID and password.For those who don’t have access to the internet, you can still get an account by calling 0300 322 7093. You will need to provide your bank details when you apply as the bonus is paid into your bank account rather than into the savings account.
Loans Loans Latest News, Loans Loans Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: TheSun - 🏆 64. / 61 Read more »