NS&I has announced the winners for the Premium Bonds prize draw for July 2023 with two Bond holders winning the £1million jackpot.
The first £1million prize was won by a person from Staffordshire, with winning Bond number 493HK711899, which they purchased in March 2022. The winning Bond was worth £9,000 and they have a total of £48,750 in Bonds.
The second £1million winner is from Norfolk. Their winning Bond was 246DR645231, which they purchased in May 2015. Their winning Bond was worth £20,000and they hold a total of £20,000 in Bonds.
Each monthly draw has two £1million jackpot prizes with each £1 Bond having an equal chance of winning.
Currently, the chances of winning a prize are currently 24,000 to one, however from August, the chances of winning will improve to 22,000 to one.
With Premium Bonds, there is no interest earned. Instead, the interest rate funds a monthly prize draw for tax-free prizes.
Premium Bonds are backed by the Government, so money held in the accounts is safe. Prizes range from £25 to £1 million and are all tax-free.
Anyone who wins money on Premium Bonds is usually notified by the Government-backed savings organisation via text, email or post.
Alternatively, people can check the Premium Bonds prize checker service available on its website.
To access this, customers need to enter their bond number which is either nine or 10 digits or a letter followed by eight digits.
NS&I’s prize checker app is also an option and is available to download on Google Play and the App Store.
NS&I has recently announced that the prize fund rate for Premium Bonds will rise to four percent for August’s draw.
The rate will increase from the current 3.60 percent. As a result, this means that each £1 Bond will have its best chance of winning a prize in almost 15 years.
According to NS&I, this increase will award an extra $30million to the prize fund in August. Due to this, an estimated 460,000 extra prizes up for those who are Premium Bonds holders.
Sally Swait, NS&I Retail Assistant Director, said: “Congratulations to our two millionaires from Staffordshire and Norfolk – £1 million is a life-changing amount of money and we hope our jackpot winners each enjoy their winnings.
“This is the highest rate the prize fund has been in over 15 years, meaning this month we paid out a total of five million prizes worth over £374 million. The Premium Bonds prize fund is going up again for the August draw too, with the odds improving as well, meaning more wins and more excitement each month for savers up and down the country.”