The amount they get is 50 percent of the highest balance they’ve saved.

Then, after four years, people who have continued to save will get a final bonus.

This second payment is 50 percent of the difference between two amounts:

• The highest balance saved in the first two years (years one and two)
• The highest balance saved in the last two years (years three and four).

If the highest balance doesn’t increase though, then the saver won’t earn the final bonus.

As the most that can be paid in each calendar month is £50, a maximum of £2,400 may be saved in the account over four years.

This means that the most a person can earn in savings in four years is a £1,200 in tax-free bonus money.

“Your bonus is paid into your bank account, not your Help to Save account,” Gov.uk explains.