Martin Lewis details how Premium Bonds odds work for savers
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April has arrived, and some NS&I savers are about to see their lives change after being announced as the high value prize winners in the latest Premium Bonds draw. This month, there were two jackpot winners who will get an astounding £1million payout each.
The odds of winning any prize in the draw per £1 Bond number currently stand at 34,500 to one.
The prizes range from £25 right up to the £1million, with fewer payouts being available as the prize level increases.
NS&I protects the identity of these winners, however some details are released each month.
While still maintaining their anonymity, the savings provider tends to release some information about where the lucky winners are from, and when they bought the Winning Bond.
This month, the Premium Bonds £1million jackpot winners come from Cumbria and Lothian.
The first number drawn was 323PN679583, belonging to a woman from Cumbria.
It is part of a maximum £50,000 holding, and the winning Bond was purchased in February 2018.
The win makes her the eighth person from Cumbria to win the Premium Bonds jackpot prize.
The second Bond number to be drawn was 422PG980526.
It belongs to a woman from Lothian, NS&I revealed.
This winning Bond was purchased less than six months ago, in November 2020.
It is also part of a £50,000 holding – the maximum a person can hold in Premium Bonds.
This win means she has become the third Premium Bonds millionaire from Lothian.
These £1million payouts were just two of a total of 3,068,376 prizes available in April 2021.
This month, the prize draw fund was worth £88,215,800.
A total of 105,858,958,006 Bond numbers were eligible for the draw.
It includes five prizes worth £100,000 and nine £50,000 payouts.
There are three different ways to check to see if one has won.
This is via the prize checker on the NS&I website, the official prize checker app, or their Alexa-enabled device.
To use the website, customers need their Premium Bonds holder’s number.
To check via the app, they would need their NS&I number or holder’s number.
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