SAVVY savers could be in with a chance of winning up to £500 each month with a new savings account which is available from today. Coventry Building Society has launched the “Sunny Day Saver”, a regular savings account with an interest rate of 6.25%.
1 Prize accounts can help you save and give you the chance to win thousands Credit: Getty Images - Getty A regular savings account lets you put aside money up to a set amount each month for a certain period, which is usually a year. All savers who pay in at least £10 a month into this account will also be entered into a prize draw to win one of 20 cash prizes worth up to £500 each month. There are 220 prizes up for grabs in total and all winnings will be paid directly into the customer’s savings account.
Each month there is one £500 prize, five worth £200 and 14 £50 winnings. Most read on banks DON'T BANK ON IT Barclays to axe bank account cashback reward for millions of customers ALL CHANGE Four big bank account changes coming in weeks – including fee hike and freebies Savers can squirrel away up to £150 a month into this account for a year but there is no obligation to pay in every time. If you were able to save the maximum amount each month you would earn £62.
14 in interest after one year. But those who want to get the account need to act fast as it can only be opened in September with as little as £1. Andrew Hagger, personal finance expert and founder of Money Comms, said: “6.
25% is an excellent rate and thi.