For this week's Savings Guide, Anna Bowes, personal finance expert from The Private Office, explains what the Help to Save scheme is...

The Help to Save Scheme is essentially a programme that incentivises people claiming certain benefits to save money.

It gives savers a generous government bonus if they put away between £1 and £50 a month over four years.

Unlike a normal savings account, no interest is earned.

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But at the end of the first two years, the government pays a bonus worth 50% of the highest balance you have achieved during that time.

So, if you have paid in the maximum £1,200 over the first two years, you would get a bonus of £600.

After four years, you get another bonus of 50

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