This December, for the Prize Savings Account monthly draw, we’re giving away £500,000 of tax-free prizes, and one lucky winner will take home the Grand Prize of £250,000.
This is just a special edition to celebrate the £500,000 prize pool. It’s the most we’ve ever given away; a truly life-changing sum of money.
What is the prize breakdown for the December draw?
In December, there will be £500,000 of prizes.
1x Grand Prize of £250,000;
100x additional prizes of £1,000;
5,000x additional prizes of £10;
20,000x additional prizes of £5
How and when are the winners picked?
The draw will take place within five working days after entries close (the first five working days of the following month). Winners are selected using randomised draw software.
The Grand Prize winner will be paid within 5 working days of them accepting the prize, and we aim to pay ‘additional prize’ winners within the same timeframe, but it’s normally much quicker.
You can read more about the £500k December prize draw on our website here, and read all about how the Prize Savings Account works on our help pages here.
What average balance do I need to be entered into the draw?
Currently, to enter a draw for the Prize Savings Account, you need to have an average balance of at least £100 at the end of the month.
In order to make the draw more accessible, we’re lowering the minimum average balance needed to enter the draw to £10.
This will start from the December draw. The November draw will still have a £100 minimum – the £10 change will be in effect from the December 2025 draw onwards.
Note that due to the average balance calculation, the amount you need to deposit to get one entry rises throughout the month from £10 to a maximum of £300.
You can use the calculator on the Prize Savings Account page to see how much you need to deposit to get one entry.
Boost your entries with promotion!
We’re currently offering three extra entry promotions.
Early Entries if you deposit into the Prize Savings Account
Normally, for the Prize Savings Account monthly draw your entries are based off of your average balance at the end of the month.
But we’re doing an especially large “£500k Draw” in December which you can also earn extra entries for.
We want to reward people who deposit early with extra entries.
So, if you deposit into your Prize Savings Account in November, your November entries will be added to your December entries as “extra entries” for the December “£500k” draw for the Prize Savings Account.
Please see the Extra Entries: Deposit Early T&Cs and the Extra Entries: Deposit Early FAQs for further details.
Extra entries when you invest
Make an investment deposit of at least £10 between 1 November 2025 and 31 December 2025 and you’ll get extra entries in our “£500k Draw” in December.
Simply:
Open a Stocks & Shares ISA and/or General Investment Account (GIA) (if you haven’t already);
make at least one single deposit of £10+ (this still applies even if you already have an investment balance) into;
one of your investment accounts between 1 November 2025 and 23:59 31 December 2025, and;
Once you have completed all of these criteria, you will get 100 extra entries for the December £500k prize draw.
Please see the Extra Entries: Invest with Chip T&Cs for further details.
Referral promotion
Refer a friend to Chip by 23:59 31st December 2025 and you and a friend could be eligible for 100 Extra Entries in the Prize Savings Account December “£500k draw”.
If you are referring someone:
Go into the Chip app, click on ‘Profile’ and then on ‘Promos and Referrals’.
From there, click on ‘Invite a friend to Chip’, and then on ‘Invite friends’ to share your referral link with whoever you want to refer.
There is no limit on how many people you can successfully refer to Chip. All referrals must be completed before the 31st December 2025 for the extra entries to be applied.
To be rewarded with extra entries you must have an open Chip Prize Savings Account, hold an average balance of at least £10 in the Prize Savings Account as of 31 December 2025, and not have opted out of the monthly draws for the Prize Saving Account.
If you are being referred:
Follow the link you receive to our referral webpage.
Enter your email address and click ‘Download Chip’.
Download the Chip app within 30 calendar days of entering your email address and set up your new account using the same email address. We will apply your referral code for you at this stage.
Deposit at least £100 into the Prize Savings Account within 14 days and before the 31st December 2025 to receive extra entries for the December draw.
Please note, for your extra entries to be applied you must hold an average balance of at least £10 in the Prize Savings Account as of 31 December 2025.
The 100 extra entries will be added to your total entries for the Prize Savings Draw, once the person being referred has met all the above requirements.
Please see the Referral offer T&Cs and the Referral webpage for further details.
Need further help?
If you have any further questions, get in touch with our support team using the in-app chat (this can be found in the Contact us section on the Profile tab) or by email at hello@getchip.uk for further help.