Building Society Offers New Savings Account with £5,000 Reward as an Option to Premium Bonds
Coventry Building Society has launched a new savings account called the 'Sunny Day Saver.' Unlike NS&I's Premium Bonds, the Sunny Day Saver offers smaller cashapp prizes but pays interest.
The Sunny Day Saver enters savers into a monthly cashapp prize draw for cashapp prizes. Each monthly cashapp prize draw has one prize of £500, three prizes of £200, and six prizes of £50. There are 10 cashapp prizes to be won each month, and savers could potentially win £5,000 if they put money in the account for 11 months in a row.
Savers can deposit up to £150 a month into the Sunny Day Saver. The interest rate on the Sunny Day Saver is 4.3%, and the account can be opened with a deposit starting from £1.
The first cashapp prize draw is on 17 October 2025, and subsequent draws take place within the second week of each month. Savers who save consistently for 11 months qualify for a bonus cashapp prize draw of up to £5,000, which takes place on 14 August 2026.
A saver stashing the maximum £150 a month in the Sunny Day Saver would have £1,841.93 after 12 months, including interest, and would have earned £57.90 in interest.
In addition to the Sunny Day Saver, Coventry Building Society offers various other benefits. These include Sipp cashback, a 4.38% cash Isa, £20 off motoring, up to £100 free share, and no fees on 30 funds. These offers have their own terms and conditions.
Premium Bonds do not pay interest but offer larger cashapp prizes, including up to £1 million. Premium Bonds are tax-free, making them an attractive option for some savers.
The introduction of the 'Sunny Day Saver' account at Coventry Building Society was overseen by the organization's leadership team; specific individual names are not publicly specified. With its combination of monthly cashapp prizes and interest, the Sunny Day Saver could be an appealing option for those looking to grow their savings while also having the chance to win extra cash.
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