Halifax plans to give away cash prizes
totaling £6m ($9.4m) annually as part of a campaign to “shake up
the savings market”.

The prize draw that will offer monthly prizes
ranging between £100 and £100,000 will be open to savings account
holders of Halifax and Bank of Scotland in England, Scotland and
Wales, aged over 18 with balances of £5,000. The first draw will be
held in December 2011.

Customers have to register to be entered into
the draw, which will take place in the first three working days of
each month.

Simon Kenyon, director of savings at Halifax,
said the draw is designed to “reignite a savings culture”. Kenyon
said, “We know that our customers work hard to achieve their
savings goals so this is a great way of rewarding that

The move is part of a plan to revitalise the
Halifax brand outlined by Antonio Horta-Osorio, chief executive of
parent company Lloyds Banking Group. Halifax also launched its new
advertising campaign featuring the Halifax community choir on 18
September 2011.

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