Santander has launched three monthly prize draws offering customers the chance to win a share of £30,000 for investing in Stocks and Shares ISAs through their Investment Hub.
However, customers only have a limited time to take advantage of this deal as the promotion is only running from February 18 to May 31, 2025, with draws set to take place in May, June, and July.
Both new and existing customers can participate in the initiative, which will distribute 150 prizes across the three monthly draws.
To enter the draws, customers need to invest either a £100 lump sum or set up a monthly Direct Debit of at least £20 during the promotional period.
Investments can be made through the Santander Investment Hub, Digital Investment Adviser, or Financial Planning Adviser.
Do you have a money story you’d like to share? Get in touch by emailing money@gbnews.uk.
Santander has launched a new monthly prize draw for customers
GETTY
Each £20 invested counts as one entry into the prize draw, with a maximum of 1,000 entries per account, capped at £20,000.
Winners will be contacted directly and receive their prizes in their Santander Cash Only Account within 28 days of acceptance.
Gustavo Gallardo Alvarez, the head of Retail Investments and Insurance at Santander UK, broke down why the bank's latest offering is beneficial to customers.
He said: "Our 2025 prize draw is yet another great reminder to not only make the most of your tax-free savings ahead of April's deadline, but also benefit from a chance to win one of 150 prizes."
Savers have been looking for the best deals amid a period of high interest rates
GETTY"Whether you're just starting out your investment journey, or growing your portfolio, this extra incentive makes now the perfect time to invest with us and set yourself up for potential long-term gains," he added.
Each monthly draw will feature two £1,000 prizes, eight £500 prizes, and forty £100 prizes.
The prize structure remains consistent across all three draws taking place in May, June, and July 2025.
Customers have multiple options for investing through Santander's Investment Hub, including self-directed choices from over 850 investment funds across the market.
Those seeking guidance can use Santander's Digital Investment Adviser service.
Alternatively, customers can arrange appointments with Santander's Financial Planning Advisers, though eligibility criteria apply.
LATEST DEVELOPMENTS:
Premium Bonds savers can check if they have won via the NS&I Premium Bonds prize checker app or website NSIThis deal from Santander shares similarities with Premium Bonds, a savings product offered by National Savings and Investment (NS&I), which sees customers enrolled into a monthly prize draw to accrue interest.
Earlier today, NS&I confirmed that the prize fund rate for Premium Bonds will be slashed from four per cent to 3.8 per cent from the April 2025 prize draw.
Andrew Westhead, NS&I Retail Director, said: "Even with the change to the Premium Bonds prize fund rate, we are expecting more than 5.9 million tax-free prizes worth over £411million to be won in the April 2025 draw."
According to NS&I, the odds of someone winning one of the cash prizes will remain the same at 22,000 to 1.
