Similar to Premium Bonds, the Halifax monthly draw is available to savers with over £5,000 put aside in the high street bank. An estimated 1,600 customers could win between £100 and £100,000 this month.
The Savers Prize Draw has seen Halifax give away over £75million in prizes since 2011.
To be eligible for the draw, savers must:
- Have £5,000 or more in savings with qualifying accounts
- Be aged 18 or over
- Live in England, Wales or Scotland
- Register for the prize draw.
Savers will need to hold a minimum of £5,000 for a whole calendar month to be entered into the following month’s prize draw.
The £5,000 can be combined across multiple qualifying accounts or held in a single Halifax savings account.
Additionally, some Bank of Scotland branded personal retail savings accounts also qualify for the prize draw.
Savers can register for the draw even if they don’t have the £5,000 saved up just yet.
Savers only need to register once and will be automatically entered into every following monthly draw that they qualify for.
Unlike Premium Bonds, savers in the running for the Halifax prize draw will still benefit even if they don’t win.
As the savings are in traditional savings accounts they earn interest regardless of the prize draw results.
Conversely, Premium Bonds offer a bigger jackpot of £1million but no interest on any savings held in the bonds.