Premium Bond results for May 2024 have been released today — including the winners of two £1million prizes.
The first £1million winner is located in Hampshire and Isle Of Wight and they hold £45,000 in Premium Bonds. They bought their winning bond 514CV247038 in September 2022. The second person to win £1million is from Outer London and they hold just £10,575 in Premium Bonds. They won with the bond number 401XE212038, which they purchased in July 2020.
Premium Bonds are a type of savings product - but instead of earning interest, and getting a guaranteed return on your money, you're entered into a monthly prize draw. The prizes range from between £25 to £1million - but some months you may not win anything at all.
Premium Bonds are run by National Savings & Investment (NS&I) and each month, there are just two £1million prizes handed out. In comparison, there are millions of much smaller prizes. In the May draw, a total of 5,888,574 prizes were given out, while 123,660,037,612 Bond numbers were eligible for the draw.
You get a unique bond number for every £1 invested, and you can invest from £25 up to £50,000 in total in Premium Bonds. If you need to withdraw your funds, you can cash in all or part of your Premium Bonds at any time.
Premium Bond winners for February announced - two people are £1million richer
Have you won big on Premium Bonds and want to share your story? Let us know by emailing: mirror.money.saving@mirror.co.uk
Andrew Westhead, NS&I Retail Director, said: “Congratulations to our two new millionaires from Hampshire and Outer London. We’re glad that we can bring a smile to so many people each month with our tax-free prizes, ranging from £25 up to £1million.
“This year we celebrate thirty years since ERNIE drew our first ever millionaire. The total prize pot for May was more than £453 million with over 5.8 million prizes being drawn. Each £1 Bond has an equal chance of winning so the more you save the more chances you have to win a tax-free prize.”
How to check if you're a Premium Bonds winner
You can use the NS&I online prize checker tool, or the Premium Bonds prize checker app, to see if you've won. If you're a winner, you can have the money paid into their bank account, or reinvest it into new Premium Bonds.
You should be emailed or sent a text message from NS&I if you've won. The odds of a bond winning each month are 21,000 to 1 for every £1 bond - but as we've mentioned above, most prizes are for smaller amounts.
NS&I reduced its prize rate from 4.65% to 4.40% from its March 2024 draw. However, there will still be two jackpot prizes of £1million. The prize fund rate is often described as the the nearest thing Premium Bonds has to an interest rate.
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