National Savings & Investments (NS&I) has drawn this month's Premium Bonds winners, creating two new millionaires among the bondholders. The winners were randomly chosen by NS&I’s prize generator, ERNIE, with both jackpot winners hailing from Yorkshire.
The first winner, based in Kirklees, holds bond number 150EN423722 and possesses £50,000 worth of Premium Bonds. This winning bond was purchased back in January 2009. The second millionaire, from Sheffield, owns bond number 513EP525664 along with £10,000 worth of Premium Bonds, having bought their ticket just last September 2022.
Andrew Westhead, NS&I’s retail director, expressed excitement over the winners, stating, “We’re delighted to announce February's Premium Bonds draw has brought million-pound wins to Kirklees and Sheffield. The Sheffield win marks the city's fourth Premium Bonds millionaire and is exactly two years since the last jackpot win there in February 2023.”
This month’s Premium Bonds draw was particularly lucrative, with nearly 5.9 million prizes totaling £430,052,425 available for bondholders. This significant figure includes cash prizes ranging from £25 up to the coveted £1 million jackpot. Despite recent cuts to the prize fund rate - now sitting at 4% from previous highs - the odds of winning remain stable at 22,000 to 1 for each bond held.
Westhead emphasized the broader impact of these jackpot wins across the region, saying, "Yorkshire and the Humber may be on a jackpot winning streak, but thanks to ERNIE, more than £430 million in prizes have gone to bond holders up and down the country this month.”
With millions at stake, how can bondholders check if they’ve won? Starting from February 4, they can verify their winning status using the online NS&I prize checker tool or via the NS&I mobile app, as long as they have their Premium Bonds numbers handy. For those who prefer traditional methods, sending inquiries by post to NS&I is also possible.
Interestingly, unclaimed prizes are still prevalent among Premium Bonds. NS&I reports there are 2,516,285 unclaimed prizes across the country, which collectively amount to £93,830,100. This includes 9,684 unclaimed prizes from Kirklees worth £348,250, and from Sheffield, where 6,668 prizes, totaling £248,450, await claiming. The oldest unclaimed prize dates back to 1963, illustrating just how long these funds can remain untouched.
Winners have various payment methods available for claiming prizes. Those who opted for automatic payments could see their winnings deposited directly to their bank accounts. Conversely, if recipients haven’t selected preferences, they should expect to receive cheques at their registered addresses.
Premium Bonds are particularly appealing because their prizes are entirely free of UK income tax and capital gains tax. This tax-free aspect makes them especially attractive for those who have reached their ISA allowance and are mindful of savings growth.
Andrew Westhead’s comments reflect the potential for successful saving through Premium Bonds, which allow participants the chance to win large sums without the downsides tied to unpaid interest on cash savings. He adds, “The chances of all bonds winning are the same, regardless of when or where they were bought.”
The cash prizes, ranging extensively, leave room for participants with even minimal investments to fare well. Notably, holders can enter the draw with as little as £25, making it accessible.
Beyond the big million-pound wins, this month's draw also boasts winners across other prize tiers. With amounts ranging from £1,000 to £100,000, many will also surely feel the joy of substantial wins, encouraging continued participation.
With the next draw already on the horizon, it's important for bondholders to remain engaged and check their holdings regularly to avoid disappointment over unclaimed wins. With the excitement driven by recent announcements, another wave of winning anticipation is building among Premium Bonds savers across the UK.
Overall, this draw has reaffirmed the value and thrill of participating in the NS&I scheme, providing both economic benefits and the joy of potentially life-changing wins.