Santander offering customers chance to win £20,000 boost

Santander announced the launch of a prize draw for all savings customers who choose to invest using in its Stocks and Shares ISA via its Investment Hub. The individual who wins will be able to take home £20,000, which is the equivalent of the ISA allowance.

This amount is capped by the Government on how much people can put away into their ISA every tax year.

Savers can choose to split their allowance between multiple ISAs but the allowance will remain the same.

Any investment growth or interest earned in Santander’s Stocks and Shares ISA is tax-free.

Unlike most ISAs, Junior ISAs for young people in the UK are capped at £9,000 for this tax year.

In order to qualify for this prize draw, there are certain tasks customers must accomplish before particular dates.

These include investing at least £1,000 in a lump sum or via direct debt into a Santander Stocks and Shares ISA between February 20 and May 26, 2023.

Furthermore, all of someone’s funds must be invested before midnight on the latter date and continue to be invested until this date.

It should be noted that ISA transfers or re-registrations from other savings providers will not be eligible for this prize.

Alexia Kilby, head of wealth propositions at Santander UK, highlighted why this latest offering is worthwhile for savers.

She explained: “With the new tax year fast approaching, our prize draw gives one lucky investor the chance to receive their whole ISA allowance in one go.

“While all other new and existing customers will see the benefits of growing their money with Santander in our award-winning Stocks and Shares ISA.

“Whether new to investing or having already grown an investment pot over a number of years, we have a range of products and funds to suit peoples’ experience and appetite.

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“Our customers can also book a free session with one of our financial experts to provide them with information and support on how to reach their financial goals.”   

The winning entry of the bank’s prize draw will be randomly selected by Santander on June 26, 2023.

After this point, the lucky winner will be told either by phone or email of their success before June 30, 2023.

Further information on Santander’s £20,000 ISA prize draw can be found by visiting the bank’s website.

Savers can opt to invest their funds via the bank’s online Investment Hub which allows them to make their own investment decisions.

Alternatively, they can use Santander’s Digital Investment Adviser or schedule an appointment with one of the bank’s advisors.

As well as this, the financial institution provides its customers with a Savings and Investments Calculator.

This makes it easier for potential investors to see comparative predicted returns on their money for savings or investment options, as well as the risks associated with them.

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