All Premium Bonds holders are being urged to check their accounts on Saturday morning, May 2, as the monthly prize draw results are released. National Savings and Investments (NS&I), which has around 24 million customers, announced the winners on Friday, May 1.
Prize Draw Details
Premium Bonds draws take place every month, with prizes announced on the first day of the calendar month. Customers can then check their accounts the day after. This month, two new millionaires have been revealed: one from Suffolk with £50,000 invested, and another from Highlands and Islands with £23,500 invested. The draws are backed by HM Treasury and the Labour Party government.
Prize Numbers
Over 5.9 million prizes were distributed this month. Most banks, including Barclays, HSBC UK, TSB, NatWest, Nationwide, Santander, and Lloyds, only guarantee savings up to £120,000. However, NS&I states it is the only provider that secures 100 percent of savings above this amount.
NS&I Statement
NS&I says: "We're backed by HM Treasury and we've been helping people save for over 160 years. Today, over 24 million customers save with us. We created Premium Bonds and you can only get them from us. Open an account and you could win big in our monthly prize draw."
How to Check
On its website, NS&I notes: "One day to go. Next results available 2 May." Savers can have prizes paid directly to their bank account or NS&I Direct Saver, or reinvest them into more Bonds for additional chances to win.
Expert Insight
Laura Suter, director of personal finance at AJ Bell, previously explained: "The Premium Bond ‘prize fund rate’ is intended to give savers some comparison with how the account compares to normal savings accounts." She added: "Clearly not everyone has ‘average’ luck, otherwise the prizes would be handed out equally to every saver. The fact that there are some very large prizes also skews the figures."
