Premium Bonds: Expert on chances of winning prize draw in May
We use your sign-up to provide content in ways you’ve consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info
Each month, two lucky people have the chance to become a millionaire due to the Premium Bonds jackpot prize fund. This month’s millionaires are from Greater London and Suffolk with the winning bonds 333XB827779 and 226HV323415.
Premium Bonds holders can win between £25 to £1million each month in the prize draw.
As the cost of living crisis continues, many people may consider Premium Bonds due to the high-value prizes they could get.
In October, 18 Britons won £100,000 prizes, up from 10 in September.
The number of £50,000 prizes also rose from 20 to 35 and 19 more people won £50 and £100 prizes in October than previous months.
This month, NS&I awarded £218million worth of prizes. This is up £4.9million on previous months due to the prize rate increase.
One question many people may be wondering is ‘is there a way to increase my chances of winning in the prize draw?’
Although winners are chosen at random, the more Bonds people have, the higher their chances are of winning.
NS&I said: “By topping up regularly each month, customers are giving themselves further chances to win in the monthly Premium Bonds prize draws.”
According to NS&I, each £1 Bond number has an equal chance of winning, regardless of when or where it was bought.
However, it notes that over 95 percent of eligible Bonds have been bought since 2000, so while Premium Bonds have been on sale for over 60 years, the larger ratio explains why the newer Bonds seem to win more frequently.
But, NS&I says: “When ERNIE randomly generates winners, it doesn’t store any numbers, so there’s no way any Bonds can be left out.
“In 2004, the £1million jackpot was won by a customer with only a £17 holding, who bought them in 1959.”
NS&I Premium Bonds savings accounts have been popular since the 1950s. They are backed by the Government which makes them a trusted account.
They are UK’s biggest savings product, with more than 21 million people saving over £119billion in them.
The minimum amount that can be purchased is £25 for one-off purchases and monthly standing orders.
The maximum amount people can hold is £50,000.
Some £74million Premium Bond winnings have not yet been claimed since the first prize winners were announced.
With prizes between £25 and £1million, Premium Bonds holders can check to see if they have won a prize in October’s prize draw by using the nsandi.com prize checker.
Alternatively, they can use the official prize checker app or their Alexa-enabled device to check results.
While all winners are notified, some people miss out on winnings because they move house and forget to inform NS&I.
However, there’s no time limit to claiming so it is still worth checking previous bond numbers.
Source: Read Full Article