Notices
  • Service update - due to planned essential maintenance our Online Service will be unavailable on Friday 28 January from 18:00 until Saturday 29 January 12:00.

  • Following the Bank of England’s decision to raise the Bank Rate by 0.15% to 0.25% in December 2021, Windfall Bond and Tracker Savings Bond rates increased by 0.15% from 1 January 2022. Tracker mortgages changed from 25 January and we have written to customers individually with revised payment details where the new rate exceeds the minimum rate (or ‘floor’) already applying to their mortgage. We will be considering our other savings and our variable mortgage rates after the Bank of England MPC meeting on 3 February. (Notice updated 19/01/22)

  • Please note that the Premium Saver (5) has now been withdrawn from sale. 
    If you have opened an account, you may add funds until 3pm, 7 February 2022, after this no additions will be allowed.

How does the Windfall Bond work and what are your chances of winning a prize?

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How does the Windfall Bond work?

Each Windfall Bond needs an investment of £10,000, and you can have as many bonds as you like (subject to availability).

Once open, the Windfall Bond pays a rate of interest linked to the Bank of England Bank Rate.

Every month, all qualifying Windfall Bonds are entered into a free prize draw. To qualify for entry into the prize draw, each Windfall Bond needs an investment of exactly £10,000 and all account holders need to be aged 18 and over. Windfall Bonds will be included in a draw for the first time in the second calendar month after being opened and meeting the qualifying criteria.

Each bond is entered into a free draw for a chance to win one of 21 monthly prizes:

  • 15 prizes of £1,000
  • 3 prizes of £2,500
  • 2 prizes of £10,000
  • And 1 prize of £50,000

For more information about the Windfall Bond please read our Product Features Leaflet.

How the monthly prize draw works

The Windfall Bond prize draw takes place on the tenth working day of each calendar month. Windfall Bonds are eligible to be included in a draw for the first time in the second calendar month after being opened (for example, a qualifying Windfall bond opened on 1 October is first eligible for a draw in early December).

  • Every month, each qualifying Windfall Bond is allocated one of 15,000 unique tickets and entered into the prize draw
  • The number of unique tickets entered into each prize draw (15,000) is kept consistent so that your chances of winning a prize do not change from draw to draw
  • Until there are 15,000 qualifying Windfall Bonds allocated to each one of these unique tickets, blank tickets* will be entered to take the ticket total up to the maximum 15,000 capacity
  • 21 winning tickets are drawn at random in each monthly prize draw by an independent third party appointed by the Society
  • No prize will be awarded for any winning tickets drawn that have not been allocated to a qualifying Windfall Bond entry for that draw
  • Each qualifying entry can win one prize only each month

*Blank tickets are those that are not allocated to a qualifying Windfall Bond but are entered into the prize draw to take the ticket total up to 15,000.

Your chances of winning a prize 

Every month, each qualifying Windfall Bond is allocated one of 15,000 unique tickets and entered into the prize draw. In each monthly prize draw, 21 winning tickets are chosen at random.

Each individual Windfall Bond entered into the draw has a^

  • Approximately 1 in 714 chance of winning a prize in any given draw. You can think of this roughly as the 21 selected prize tickets divided by the 15,000 tickets entered into each draw
  • Approximately 1 in 60 chance of winning at least one prize across 12 consecutive draws

^The fact that at any given time the number of qualifying Windfall Bonds may not equal the maximum capacity of 15,000 has no impact on the probabilities quoted, as blank tickets are entered to take the ticket entry total up to 15,000 every month.


    We will notify winners of the monthly free draw within 10 working days of the draw taking place.

    We reserve the right to change terms of the draw, the prizes available or end the monthly free draw after giving seventy calendar days’ notice, or as per clause 23 in our Windfall Bond monthly free draw Rules which are also included in the Product Features leaflet.

    For a full list of the Windfall Bond monthly free draw rules please click here.

    If you have any questions about the Windfall Bond, please contact our New Business Team:

    Ask us for a call back Email us

    Product details and how to apply

    Find out more information about the Windfall Bond including how to apply.

    Frequently asked questions

    Here you can find answers to the most common questions our members ask about the Windfall Bond.