Premium Bonds: NS&I updates prize checker – how to see if you have won in January draw
Martin Lewis details how Premium Bonds odds work for savers
Premium Bonds are held in their millions right across the UK, with some holders even living overseas. Each month, using the interest rate for the savings account, NS&I, the government-backed institution, announces lucky winners for its monthly prize draw. The £1million prize is not the only payout offered to Britons, and sums have a wide range in terms of return.
Therefore, this morning, NS&I has updated its prize checker, to help savers see if they have won.
The tool can be accessed via NS&I’s website, and the process is intended to be as simple as possible for Bond holders.
Britons will be required to enter their Bond holder number into the tool to find out if they have clinched a prize.
However, for those who cannot remember or find this number, they should not lose hope about checking.
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There is additional information accessible through the NS&I website to provide savers with further information.
A holder’s number has either nine or 10 digits, or eight digits followed by a letter, and can usually be found on a person’s Bond record or by logging into their account.
NS&I has released the vital details about who has been lucky enough to win the £1million prize this month.
It will be a happy new year for one woman from West Scotland, who was revealed as the first January 2021 millionaire.
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She has the winning Bond number of 330VT557685, having purchased the winning Bond in May 2018.
The second lucky winner is a woman from Barnet, holding the Bond number 135RY390643.
Her winning bond was purchased back in January 2008, and worth £5,000, although she has a total holding of £20,000.
But for those who did not become millionaires this time around, there are also other prizes to be had.
NS&I has said over 2.9million prizes have been issued this month to savers.
The prize fund for January 2021 sits at a staggering £83million, making many lucky winners.
Indeed, four people have won £100,000 this month, with 10 further people securing a £50,000 win.
Britons can check the high value winning numbers through a list of full details also contained on the NS&I website.
The government-backed savings institution has undergone a number of important changes recently, which savers will be eager to note.
It began to reduce its interest rates from November 2020, meaning there has been an impact on all of its savings products.
Specifically looking at Premium Bonds, the prize fund rate reduced from 1.40 percent tax-free, to 1.00 percent tax-free.
This means the odds also reduced from 24,500 to 1 to 34,500 to 1 for Premium Bond holders.
Ian Ackerley, NS&I Chief Executive, said at the time: “Reducing interest rates is always a difficult decision.
“Given successive reductions in the Bank of England base rate in March, and subsequent reductions in interest rates by other providers, several of our products have become ‘best buy’ and we have experienced extremely high demand as a consequence.
“It is important that we strike a balance between the interests of savers, taxpayers and the broader financial services sector; and it is time for NS&I to return to a more normal competitive position for our products.”
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