'Help To Save' savings accounts are Government backed and aimed at people who are entitled to Working Tax Credit or Universal Credit - and they pay the equivalent of 50 percent interest.

Savers can put away between £1 and £50 each calendar month, and there are no requirements to invest every month. Savers can also pay into the account as many times as they like per month - as long as the figure doesn't exceed £50. 

The tax-free bonuses become available at the end of the second and fourth years, and the amount is based on how much the person has saved.

For more information on eligibility, and examples of how much you could save, please visit Get help with savings if you’re on a low income (Help to Save): How it works - GOV.UK (www.gov.uk)