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!

Several readers have asked about the fantastic Post Office Savings Prize Draw – but I’ve not heard anything about this returning, unfortunately. I’ll let you know if I do!

Chip Prize Savings Account

Use the Chip Prize Savings Account to save, and you’ll get a chance to win prizes instead of receiving interest, with a top prize of £10,000 per month, plus 1,300 smaller cash prizes. All money you deposit with Chip is held by the UK authorised ClearBank, and is eligible for the FCSC (Financial Services Compensation Scheme). Full details on the Prize Savings Account are here.

  • Interest rate: n/a
  • Requirements: You must be a UK resident aged 18 or over, and have at least £100 in your Prize Savings Account on the last day of the month. For each £10 in your account you will receive one prize draw entry. 
  • Prizes: 1 x £10,000, 50 x £100, 500 x £25, 750 x £10 – you can win multiple prizes in the same draw.
  • How to open account: Download the Chip app for Apple devices
  • Deadline to open account: to qualify for the monthly prize draw, you will need to open the account and pay in at least £100 by the end of the month – then just ensure you have at least £100 in the account to qualify for future monthly draws
  • How are winners contacted: Winners will be emailed, but it’s not stated how long after each monthly prize draw closes this will be. 
  • Restrictions: There is a limit of 8,500 entries per month (equivalent to £85,000), and a limit of one Prize Savings Account per customer.


Everup is a unique alternative to putting your savings into a bank or building society account. Transfer cash to Everup, and you’ll earn ‘coins’ dependent on how much you’ve deposited. Use these coins to play games and enter raffles and draws on the Everup app to win cash and other (mainly tech) prizes. Note that EverUp is NOT a bank, so your money is not protected by the FSCS scheme. Find out more here.

  • Requirements: you can win prizes without depositing any money – but holding savings in your Everup account earns you bonus coins, the amount increases dependent on how much you have in your account.
  • Prizes: range from coins to cash prizes as high as £1,000,000 depending on which game you play (your options are Million Lotto, scratchers and minigames)
  • How to open account: Download the app here (*my referral link – use my code RDIC1681126WJTKW to get a cash bonus) and verify your email and phone number. The app will validate your ID before you can open your cash account. To top up your cash account, you’ll just need to make a BACS transfer to the Everup account using your usual banking app.
  • Restrictions: Everup is available to England, Wales or Scotland residents, age 18+

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+

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. Top prize winner each month receives £5,000, plus there are twenty runner-up 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, 10 x £50 and 10 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: unknown
  • 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 21,000 to 1 chance of winning a prize for every £1 bond you hold (it’s now the equivalent of 4.65% interest rate). Check out the prize allocation stats here. 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.


Set up monthly savings from just £50 with Bestinvest and you’re automatically entered into their monthly prize draw to win £250. Full details of the Bestinvest prize draw are here.

  • Requirements: Open a Bestinvest account (choose from ISA, SIPP or an Investment Account) and deposit £50 or more each month
  • Prizes: One £250 prize each month will be awarded to a random saver
  • How to open account: online at
  • How to enter: Monthly savings must be set up before 12th of the month to qualify for that month’s draw – you must pay in £50 to qualify for that month’s draw.
  • Restrictions: UK residents age 18+
  • When are winners contacted: Not stated, but Bestinvest will contact each month’s winner via telephone or email.

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!

Enjoyed this post? Why not check out 8 easy ways to save money on your supermarket shop?

21 Responses

  1. Garrie says:

    Chip are launching a Prize Savings Account.

  2. Daphne Monk says:

    Hi extra draw in June, must be have £5000 in savings April 2022 to be in for Draw and register

    June Superdraw
    In June, we’re giving away an extra £800,000, compared to the monthly Savers Prize Draw.

    10 winners of £100,000
    10 winners of £10,000
    100 winners of £1,000
    1,500 winners of £100
    With more prizes than ever to be won, you need to register to be in with a chance to win and make sure that you have £5,000 in your savings account for the whole calendar month of May.

  3. Sheila says:

    I won £10,000 with the Family Building Society after being in only a matter of months. Very pleasing !

    • Di says:

      Wow that’s a great win Sheila!

      • David Meldrum says:

        Wow lucky you. i’ve maxed out my premium bonds so i will be looking at getting a few windfall bonds next.

    • David Meldrum says:

      Lucky you.
      I had hoped to invest in Windfall Bonds in April but at present they have stopped new applications.

      Hopefully i will be able to buy some this year when they become available again.

  4. 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!

      • David Meldrum says:

        Hi Julie,

        Thats a great win for your parents.
        Is the minimum requirement to have a minimum of £5,000 in a Halifax savings account?


        • David Meldrum says:


          I just opened up a Halifax account last week and for the monthly cash draws you need to have a minimum of £5,000 or more to be entered and it has to be in your account for one callender month so like i started my account in April so my first draw i will be included in will be June 22.

          They are adding an extra £800,000 in Cash prizes for June to mark its 10 year anniversary.

    • MALCOLM POYSEE says:

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

    • mehboob Sidat says:

      Nothing for 4 years i think its a scam

    • Sean Tuaima says:

      I’ve was in the Halifax savers prize draw for 10 years and I was eligible all that time and I never won anything from them.

  5. 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.

        • Yvonne Mckillop says:

          About Credit union –
          Missed this one Di, mines has been running good few months didn’t know there was prizes given out, I’m putting away £15 a week , is there a certain amount to be in your account and do you have to have had a loan ?

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