Every month, two lucky Premium Bond holders scoop a £1 million jackpot from NS&I, and thousands of others win smaller amounts ranging from £25 to £100,000. Are you one of them? Find out now!
August’s first top prize winner is from Hertfordshire. The winning bond number was 287NJ414708, scooping a cool £1 million. The second lucky winner is located near Chester in the West of Cheshire. Their winning bond number was 105VW884980 and they too walk away with a life-changing £1 million. Both million-pound winners took the top prize with bonds worth just £5,000 – not a bad return – especially for one who had only purchased their winning premium bond in November 2016. Many congratulations to them both.
Six lucky people took home a £100,000 prize, with the winning numbers being 293ZK002537 in Somerset, 298BW133047 in inner London, 277HT478580 from outer London, 257JN980761 in Wales, 293NG445735 from Hereford and Worcester, and 210EG679169 from Staffordshire. Again, one of these won with just a £5,000 premium bond, proving that you don’t need to invest vast sums to win big.
Some of the best returns this month were shown by three premium bond winners who scooped a single £50,000 prize and two £25,000 prizes with bonds valued at just £50!
Once again, the total prize fund total for August stood at £95 million, with more than 3.3 million winners walking away with a prize of between £1,000 and £1 million. To find out if you are one of the lucky premium bond holders go direct to the National Savings & Investments site here.
For those who are looking for more of a guaranteed return, why not compare today's best savings account rates as an alternative.
Reading this and wondering whether you've got some Premium Bonds squirrelled away somewhere? Perhaps you were given some as a child or have just lost track of them and don’t know where the details are? Fear not – there are ways to track down those missing premium bonds!
Simply contact NS&I, who have a tracing service designed for this very purpose. Download a tracing form here. By providing enough information, NS&I will be able to track down your bonds. Who knows – you might find you are one of the many people who have won big and are yet to claim your prize!
If, however, you know exactly where your bonds are, but your details have changed, you need to contact NS&I to update them. Not telling NS&I when you move home or update your email address could lead to you missing out on a fantastic prize.
According to NS&I, there are over 1.5 million unclaimed Premium Bonds prizes worth £61 million, all waiting to be claimed. There's no time limit on unclaimed funds so don’t worry about losing your prizes – just get in touch with NS&I as soon as possible.
Premium Bonds may give you the chance to win big, but there's no guarantee. The odds of winning for each £1 bond number are currently 24,500 to 1, and although the annual prize fund interest rate is 1.40% – which means someone with average luck could expect to win prizes equating to interest of 1.40% each year – the reality is often far different.
As such, you may want to look elsewhere to ensure you'll generate a return. This is where savings accounts come in, all of which guarantee you'll earn some form of interest on your investment.
Your first choice could be easy access accounts. They are the most flexible type of account, the best of which pay interest rates comparable to or over Premium Bonds' annual prize fund rate of 1.40%. This includes the current market-leading return of 1.50% on offer from Cynergy Bank, Marcus by Goldman Sachs® and Virgin Money.
Fixed rate bonds are like Premium Bonds in that they're designed for longer-term saving to stand the best chance of winning a prize and you typically lose access to your funds for a set period. Here, some of the top rates available include expected returns of 2.85% on offer from Bank of London and The Middle East (BLME), though you'll need to tie up your funds for at least seven years. Or, for shorter-term deals, you may want to consider the 18-month version of BLME’s Premier Deposit Account offering an expected profit rate of 2.25% or its 12-month deal paying 2.10%.
High interest current accounts could be the best of the bunch for a small savings pot, with rates of up to 5% on offer, such as with the FlexDirect account from Nationwide. Just bear in mind that you'll normally only be able to earn the headline rate on relatively low balances (in the case of Nationwide it's on balances of up to £2,500 for the first 12 months), but they could be worth considering.
Of course, a good compromise could be to split your savings between several different pots – you may want a high interest current account for the highest interest rates, an easy access deal for flexibility, a fixed rate bond for a more substantial savings pot, and Premium Bonds for money you don't mind investing in more of a lottery-style product. That way, you can get the best of all worlds – and you never know, you could be a winner!
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