Christmas savings schemes and clubs tend to be run by supermarkets, large retailers, local shops, online companies and social clubs. Usually you will pay a monthly amount in return for receiving stamps or vouchers which at the end of a set time you can exchange for goods.
These schemes give you the discipline to save for Christmas but you will not receive any interest on the money you have paid in and you are usually restricted as to where you can spend the stamps or vouchers.
These types of savings schemes are not regulated and you won't be covered for compensation if anything goes wrong.