Prize Saver

Prize Linked Savings: Your Chance to Win £5000!

Save with Serve and Protect's Prize Saver, a prize-linked savings account that turns saving into an exciting opportunity to win prizes. Start saving and winning today!

What is a Prize-Linked Savings Account?

A prize-linked savings account lets you save money while enjoying the chance to win prizes. Having savings in our Prize Saver means you’re automatically entered into a monthly prize draw, making saving both exciting and rewarding.

It’s simple to get started. Deposit your money into the account and look forward to regular opportunities to win. With no risk to your funds, it’s a fun way to stay motivated and build better saving habits.

Why Choose Our
Prize Saver Account?

Here’s why our Prize Saver account is the perfect choice for you:

Win up to £5,000 Monthly

Every month, one lucky member takes home a £5,000 cash prize. Plus, over 20 additional cash prizes are awarded monthly!

Start Saving from Just £1

Whether you start with a £1 deposit or up to £200, our account makes saving simple and flexible for everyone.

No Fees, No Restrictions

Withdraw your money anytime without penalties or hidden fees. Need to close your account? It’s hassle-free.

Free Life Cover

Enjoy peace of mind with free life cover that matches the first £25,000 you’ve saved, supporting your family when it matters most (subject to terms and conditions).

How does the Prize Draw Savings Account Work?

Here’s how the Prize Saver account works:

Quick Online Application

Complete a simple online application in minutes. Not a member yet? Join us quickly and easily, then return to apply for your Prize Saver account.

Fund Your Savings Account

Once your account is set up, you can deposit funds directly or transfer money from another Serve and Protect account.

Your Chance to Win

All funded accounts are automatically entered into the monthly prize draw. Winners are announced between the 15th and 20th of each month, with winner contacted within a couple of days.

Frequently Asked Questions

How much can I win?

You could win the £5,000 top prize every month, and there are at least 20 additional prizes starting at £20 up for grabs.

Can I withdraw money from my Prize Saver account?

Yes! You can access your money anytime with no withdrawal fees. Manage your account through online banking, our mobile app, or by contacting us.

How much can I save?

Open your account with just £1, or save up to £200. Transfers and additional deposits are simple and flexible—just the way saving should be.

Is my money safe?

Your funds are protected up to £85,000 under the UK Financial Services Compensation Scheme (FSCS), giving you complete peace of mind.

Do I need to pay tax on any earnings from my savings?

You might need to pay tax on the interest or dividend you receive from your savings accounts with us. This will depend on your personal financial situation. For more information, please visit https://www.gov.uk/apply-tax-free-interest-on-savings

Do I need to be a member to open a Prize Saver account?

Yes, you’ll need to be a Serve and Protect Credit Union member. Joining is quick and free. Once you’re a member, you can start saving and winning in no time.

Does the Prize Saver include life cover?

All our savings accounts include free life cover up to £25,000 (up to the age of 65). This means, should the worst happen, your savings could be doubled up to the first £25,000, allowing you to support your family when they need it most.

The free life cover benefit is subject to the terms and conditions of Serve and Protect Loan Protection and Life Savings policies, arranged by CMGL and underwritten by Covea Life Ltd. Note that this protection is a benefit of membership provided at no extra cost to the member. The Credit Union is the policyholder for Loan Protection and Life Savings.

Ready to Apply?

If you’re already a member, our Prize Saver account is just the thing for you. Just fill out the form below to get started. It’s that simple!

Step 1 of 4 - Getting Started

Are you a member of Serve and Protect Credit Union?(Required)

To open a Prize Saver, you must be a member of Serve and Protect Credit Union. Not already a member? Don't worry, it's quick and easy to join. Get started now! Once you've joined, head back here to complete your application for a Prize Saver.

Results

Results are unveiled between the 15th and 20th of each month and winners are contacted directly once the monthly prize draw has been made. Good luck!

Other Products

Find out more about our other products and how they can help

Regular Saver

As the name suggests, this is an easy access savings account designed to help all our members save regularly.

Cash ISA

A Fixed Cash ISA offers secure, tax-free savings with fixed interest rates, making it a dependable way to grow your money and achieve your financial goals.

Fixed Saver

Our fixed rate saver account enables you to earn a guaranteed savings return over a set period of time.

Junior Saver

It’s never too soon to start saving and our junior saver enables you to save on behalf of your children / grandchildren living at your address.

Flexi Saver

We know plans can change which is why our flexi saver is ideal if you want to save additional amounts, but access your money when needed.

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Prize Saver

Prize Linked Savings: Your Chance to Win £5000!