How does the Windfall Bond work?

Each month, all qualifying Windfall Bonds are entered into a Monthly Free Prize Draw. To qualify for entry into the Prize Draw, each Windfall Bond must have:

• an investment of exactly £10,000
• a registered nominated bank account
• all account holders must be aged 18 and over.

A Windfall Bond account will be entered in a draw for the first time in the second calendar month after being opened and meeting the qualifying criteria above. For example a Windfall Bond account opened in February will be entered into April's Prize Draw.

Once a Windfall Bond has been closed it no longer qualifies for inclusion in the Monthly Free Prize Draw.

The value of the Windfall Bond's Monthly Prize Fund will vary each month, in proportion with the value of Windfall Bonds entered into the previous month's free Prize Draw. 

The Prize Fund Value will be calculated by taking the total value of Windfall Bond deposits entered into the previous month’s free Prize Draw, multiplied by 1%, and divided by 12.

As an example, the Prize Fund for November would be calculated as the total value of Windfall Bond deposits entered into October’s prize draw, multiplied by 1% and divided by 12.

More information on how to calculate the Prize Fund value can be found in clause 9 in the Prize Draw Rules, which is also contained within the Product Features leaflet.

The number of prizes entered into each Monthly Prize Draw will also vary from month to month depending on the value of the Monthly Prize Fund. A new prize allocation method will determine the number of prizes to be entered into each draw.  

Here's an illustration of what the number and value of prizes might look like for 12,000 qualifying entries into the Prize Draw.

This equates to 108 prizes from a total prize fund worth £100,000. Each qualifying entry can win one prize only each month.