Savings: Britons on low incomes can get a tax-free bonus worth £1,200 – are you eligible? | Personal Finance | Finance

The reward is deposited into an uncomplicated access account, so savers can make withdrawals if they will need to.

People today will require to be knowledgeable that no interest is paid on the harmony of the account, and the only maximize a particular person can get is the bonus payments.

The whole total saved about the four yrs would be £2,400, which the Governing administration adds £1,200 to.

For Universal Credit history claimants, individuals will be eligible if they, with their spouse if it is a joint claim for Universal Credit score, experienced a choose-property shell out of £658.64 or a lot more in their last monthly evaluation time period.