Help To Save Accounts

[Finetoday]

I’ve just paid the last dd into my Help To Save account and am expecting the savings and final bonus to hit my current account within the next few days.
I did the max £50 for 4 years so saved £2400 and will get the second £600 bonus.

Any advice on what else is out there that is even remotely as generous as this ?!!

PS - thanks MN for recommending HTS accounts in the first place !

How old are you, and what are your plans - can you lock the money away or do you need to keep it somewhere you're able to access it?

If you can tuck it away long term the best bet is probably a pension or a LISA.

Pension can be started at any age, you get a tax rebate on what's paid in (so for every £80 you pay in you actually get £100 in the pension). Drawback is that you can't get it out until age 58, and this is likely to go up in future to stay at 10 years below state pension age. When you do take the money out you get 25% of it tax free, and pay income tax on the rest according to your total income at the time.

If you have an employee pension you may be able to use this money to make extra payments into that. And if so as well as the tax saving you might get extra contributions from your employer. Check this - not all schemes offer it and there's usually a cap on how much.

If you are under 40, a LISA is an option. This gets a government bonus of £100 for every £400 you pay in. Drawbacks are that you can only take the money out to buy a house or after age 60, and you can only pay in until you're 50. Unlike a pension, the whole amount is tax free when you take it out.