Halifax, part of Lloyds Banking group, has announced the closure of its monthly Savers Prize Draw. The final draw will take place in September 2025.

Customers of the bank can still register for the chance to win the prize, they must be 18 or over and live in England, Wales, or Scotland and must have a balance of £5,000 or more in a qualifying account for a month. Halifax said it does not count money held in child, business, or charity accounts. The Sun reported the competition has been a key perk for savers since it launched in 2011.   

There has also sometimes been a “superdraw” with a much higher top prize, including one of £500,000. 

Halifax customers were told today that the draw would be closing in a message sent out on the bank’s messaging service.

Halifax told customers: “Our Savers Prize Draw is coming to an end.

“Before it closes, you’ll automatically be entered into the remaining prize draws if you qualify. 

“We’ll let winners know within one month of the draw taking place, so it’s a good idea to make sure your contact details are up to date.”

A spokesperson for Lloyds Banking Group told The Sun: “Our customers’ expectations continue to change, and we are taking the opportunity to look at how we can reward customers in different ways in the future.

“Our Savers’ Prize Draw has made a huge difference to thousands of customers, with over £100million awarded since our first draw in 2011.”