Nationwide is offering ‘attractive’ 5% interest plus chance of £250

Individuals won’t be entered into the prize draw if they increase their balance by less than £25, or more than £50, in one or more of the six months leading up to a prize draw.

Any interest and prize draw winnings added to one’s account will not count towards their minimum £25 balance increase.

It should be noted that people will need to pay into the account within the first 28 days or Nationwide will close it.

There are three prize draws, which will take place on February 22, 2023, August 22, 2023, and February 20, 2024.