Savings accounts that give you the chance to win prizes

If you’re lucky enough to have a little money to invest, why not put it in a savings account that gives you the chance to win prizes? There are lots of opportunities to win cash or gift cards in monthly prize draws. I’ll keep this blog post updated with the latest news on accounts that give you the chance to win!

Halifax Savers

The Halifax Savers promotion has been ongoing for several years, and every month 1,603 savers win cash prizes. To qualify, you must have £5,000 in any combination of savings accounts with the Halifax (this also includes most Bank of Scotland accounts). Full details on the Halifax Savers prize draw are here.

  • Requirements: Hold £5,000 or more in any qualifying Halifax savings accounts for a whole calendar month to be entered into the next month’s prize draw.
  • Prizes: 3 winners every month will receive £100,000, 100 will win £1,000 and 1,500 will win £100.
  • How to open account: online, in a Halifax branch, or on the Halifax app
  • How to enter: Opt in to the prize draws by registering through the Halifax app, Online Banking, Mobile Banking, or by visiting your local branch – you only need to register once, then you will be included in every draw as long as you have £5,000 in savings.
  • When are winners contacted: Halifax will write to winners within a month of each prize draw.
  • Restrictions: Open to England, Wales or Scotland residents, age 18+

Nationwide Start to Save

Nationwide Start to Save is designed for new savers who want to put away between £50 and £100 each month, and if you qualify you have a chance to win £100. There are two remaining prize draws, in July and October 2021, and qualifying savers will have at least a 1-in-67 chance of winning £100 in each draw. Full details on the Nationwide Start to Save account are here.

  • Interest rate: 1.00% AER/gross a year (variable) for 24 months
  • Requirements: Save between £50 and £100 in the three months leading up to a prize draw to be in with a chance of winning. If you withdraw money, you must replace it to ensure your balance is increasing by at lest £50 monthly!
  • Prizes: £100 cash. The prize fund for each draw is equal to 1% of the total increase in balances of all the qualifying accounts for that draw – the chance of winning will be between 1-in-34 and 1-in-67.
  • How to open account: At or using the Nationwide app
  • Deadline to open account: to qualify for the prize draw on 21 July 2021, you will need to open the account and pay in between £50 and £100 before the end of April, May and June 2021. To qualify for the prize draw on 21 October 2021, you will need to open the account and pay in between £50 and £100 before the end of July, August and September 2021.
  • When are winners contacted: winners will receive email or postal notification, and the £100 will be paid into their Start to Save account within 30 days of the draw. 
  • Restrictions: Open to England, Wales or Scotland residents, age 16+

Post Office Savings

The Post Office Monthly Savings Prize Draw returns for 2021, with thousands of pounds and hundreds of One4All gift cards to be won. Put at least £1,000 in an eligible Post Office savings account and opt in to the prize draws – you can open a new account, or deposit at least £1,000 in an existing account. Entries for the next draw close on 31 March 2021 and entries for the final draw close at the end of April 2021. Full details on the Post Office Savings prize draw are here

  • Interest rate: varies depending on account
  • Requirements: Have at least £1,000 in an Instant Saver, Growth Bond, Easy Access Cash ISA or Fixed Rate Cash ISA account with the Post Office to qualify for the monthly prize draw.
  • Prizes: Monthly prizes of 1 x £10,000 cash, 4 x £2,500 cash and 200 x £100 One4All gift cards
  • How to open account: Apply in a branch or download a form from and apply by post.
  • How to enter: Opt in to the prize draws before or after opening your account, at
  • Deadline to open account: 30 April 2021
  • When are winners contacted: Winners will be contacted by phone (cash prizes) or email (gift card prizes) within 28 days of the closing date. Closing dates for each of the three prize draws are 28 February, 31 March and 30 April 2021.
  • Restrictions: Open to England, Wales or Scotland residents, age 18+

Prize Saver

Prize Saver is an HM Treasury pilot scheme to incentivise people to save with credit unions. The Treasury have ended their involvement with the scheme – however, the participating Credit Unions have agreed to continue the prize draws until September 2021. Top prize winner each month receives £5,000, plus there are twenty runner-up £20 prizes. Terms & conditions also state that there may be bonus prize draws. Full details are at  but check your local CU for the latest update (a link to the East Sussex T&Cs is here).

  • Interest rate: most credit unions do not pay any interest, but pay out an annual dividend to savers
  • Requirements: Save at least £1 in a savings account. Every £1 in your account at the end of each month gives you one automatic entry into the following month’s prize draw – up to a maximum of 200 entries a month
  • Prizes: Monthly prizes are 1 x £5,000 and 20 x £20
  • How to open account: Join your local Credit Union by clicking on the relevant link from the list at, then open an account via your local Credit Union website.
  • How to enter: If you have at least £1 in savings, you are automatically entered into the monthly draw
  • Deadline to open account: September 2021.
  • When are winners contacted: Draws take place mid-month, and winners are contacted within 21 days.
  • Restrictions: Open to England, Wales or Scotland residents, age 18+

NS&I Premium Bonds

NS&I Premium Bonds have been around since 1956, and are an alternative to a savings account. Instead of paying interest, they offer a 34,500 to 1 chance of winning a prize for every £1 bond you hold (the equivalent of 1% interest rate) – this figure was 24,500 to 1 (1.4% interest rate) until November 2020, so the number of prizes has dropped significantly. You can invest between £25 and £50,000.

Ever wondered what ERNIE stands for? It means Electronic Random Number Indicator Equipment – powered by quantum technology, ERNIE 5 chooses the random winners each month! Full details on the NS&I Premium Bonds are here.

  • Prizes: NS&I pay out over three million tax-free prizes every month, ranging from £25 to £1 million.
  • When are winners contacted: Winners of monthly draws are notified by email or text message. You can also check online at or on the NS&I app, to see if you’ve won. Prizes less than £5,000 are paid into your nominated bank account – for larger prizes you will be asked to complete a form.
  • How to open account: online, by phone or by post
  • Restrictions: Anyone age 16+ can hold Premium Bonds. Bonds in a child’s name are looked after by a parent or guardian.

The Family Building Society offer a ‘Windfall Bond’ similar to Premium Bonds, with a 0.1% interest rate and a chance to win 15 x £1,000, 3 x £2,500, 2 x £10,000 and 1 x £50,000 in monthly draws – but currently they’re not accepting new account applications!

If you do decide to open a new savings account, make sure to keep the details somewhere safe and to let your loved ones know. I have a spreadsheet with details of all my investments, and have given my husband access to it… just in case!

8 Responses

  1. Alex McKay says:

    Has anyone won anything with the Halifax in the past? My mum has had a Halifax for years but hasn’t won anything.

    • Julie Rayner says:

      my parents won £5000 when it first started.

      • Alex McKay says:

        Hi Julie, thank for that. When about did it start? My mum thinks she’s had a Halifax savings account since the 90s. Now that I’ve told her about the draw she’s not happy. I think she’s going to have to double check she’s in it!

    • MALCOLM POYSEE says:

      sorry nothing from the halifax,,,have been entered for some time now

  2. Alyson Smith says:

    Hi Di,
    Love your blog – I’m a new comper so your advice is brilliant. Just wanted to let you know that I rang my local credit union re the PrizeSaver account and the Treasury have stopped it and you cant open those accounts anymore. Apparently that’s effective from the end of last month 🙁

    • Di says:

      I might get in touch with the Treasury about this as I would have expected them to update the PrizeSaver website with this information! Thanks for letting me know!

      • Di says:

        I’ve contacted my local Credit Union (East Sussex), who say the PrizeSaver account is still running and the next prize draw is 16 April 2021.

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