New Savings Account Offers 4.3% Interest and £5,000 Prize
A fresh alternative to Premium Bonds has just landed, and it’s got a lot of savers talking. Coventry Building Society has launched what they’re calling the Sunny Day Saver account – and it’s a mix of steady interest plus the chance to win cash prizes, with a top bonus of £5,000.
Here’s how it works. The account pays 4.3% interest, which on its own is a competitive rate in today’s market. But on top of that, every month there are ten prize draw winners. Each draw includes one £500 prize, three prizes of £200, and six prizes of £50. That’s 11 monthly draws in total, running from October 2025 through to August 2026.
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The real incentive comes if you stick with it. Anyone who manages to save at least £10 every month for 11 months in a row will be entered into a special bonus draw. That one offers bigger prizes, including a £5,000 jackpot, alongside other rewards such as £2,500, £500, and £250. For savers who can stay consistent, it’s a double benefit: your savings are quietly growing with interest, and you’re also in with a chance of a windfall.
Unlike Premium Bonds, which don’t pay any interest and rely purely on luck, this account gives both guaranteed growth and the excitement of prize draws. Joanne Forsyth, branch manager at Coventry Building Society’s Oxford Branch, explained it like this: many people save for rainy days, but this account is about putting something aside for “sunny days” too – those little moments of joy, whether that’s a weekend trip, a family treat, or simply having some extra money for fun.
Opening the account is simple. You only need £1 to get started, and you can save up to £150 a month. Even if you don’t win a prize, the interest alone adds up. For example, someone who saves the maximum £150 each month for a year would end up with just over £1,840, including about £58 in interest. That’s before any prizes are taken into account.
What’s clever about this type of saver is that it encourages good financial habits. Regular saving isn’t always easy, but when there’s the added possibility of winning a few hundred pounds – or even thousands – it gives people a little extra motivation. And because the account is only available for a limited time this September, those interested will need to act quickly.
So, in short: the Sunny Day Saver combines the reliability of a strong interest rate with the excitement of prize draws. For those who like the idea of Premium Bonds but want their money to grow at the same time, this could be a rewarding alternative.
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