The service includes a helpline, website and face-to-face advice services, delivered through a range of partners including the Citizens Advice Bureau and Age Concern.
The cost of the service will be funded by a levy on the financial sector and funds recovered from dormant bank accounts, with Government meeting part of the cost in the first year.
The new service is expected to help a million people in the next year.
Darling says: “Moneymadeclear is free, impartial advice for all, whether you are unsure about the small print in a mortgage form, want advice about opening a savings account for your children or grand-children or you want some help dealing with repayments before they get out of hand.
“This service will provide much needed advice for one million people across the UK in the coming year alone.”