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Every month, savers have the chance to win big prizes as the Premium Bonds winning numbers are announced. There are now 24 million people taking part in the government-backed savings scheme, with ...
The winner holds £50,000 in premium bonds and purchased their winning bond in July 2014. They are the ninth millionaire from Suffolk. For the October 2022 draw, NS&I paid out almost 5 million ...
Scottish Highlands and Wandsworth have new millionaires this month.
Bonds purchased by reinvestment of prizes are immediately eligible for the following month's draw. Numbers are entered in the draw each month, with an equal chance of winning, until the bond is cashed. As of 2019, each person may own bonds up to £50,000. [4] Since 1 February 2019, the minimum purchase amount for Premium Bonds has been £25.
All prizes are tax free and, with approximately 84 billion bonds issued, the chances of any one bond winning a prize for a given month are approximately 24500 to 1. However, if a bond wins a prize, that bond is not redeemed but remains 'in the pool' for all forthcoming draws (at least until the bond-holder decides to redeem it.).
A Prize Bond is a lottery bond, a non-interest bearing security issued on behalf of the Irish Minister for Finance by the Prize Bond Company DAC. Funds raised are used to offset government borrowing and are refundable to the bond owner on demand. Interest is returned to bond owners via prizes which are distributed by random selection of bonds.
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