The latest NS&I Premium Bonds draw has revealed over five million winners, with a total prize pool exceeding £430 million.
This highly anticipated event, covered by Daily Record, highlights the continued popularity of Premium Bonds as a savings option that offers both security and the excitement of potential tax-free winnings.
Among the millions of winners, two bondholders from Cleveland and Cumbria emerged as the luckiest, each securing the £1 million jackpot. Their success demonstrates that even small investments can lead to significant rewards, reinforcing the appeal of this unique savings scheme.
Two New Million-Pound Winners
The NS&I Premium Bonds draw for February resulted in two new million-pound winners, both located in northern England. The first jackpot winner, based in Cleveland, North Yorkshire, held only £100 in Premium Bonds. Their winning bond number was 540HZ735699, purchased in May 2023.
The second winner, from Cumbria, had £35,000 invested in Premium Bonds. Their winning bond number was 408VD714629, purchased in August 2020.
Andrew Westhead, retail director at NS&I, commented on the draw, stating that the Cleveland winner’s story was particularly exciting since they had only invested £100 in 2023. He emphasised that every £1 Bond has an equal chance of winning the £1 million jackpot.
He also noted that this was the second smallest holding ever to win the grand prize, with the smallest being a £17 bond purchased in 1959, which won in July 2004.
Over £430 Million in Prizes Distributed
Beyond the two jackpot winners, the February draw saw a total of 5.9 million prizes distributed, worth £430 million. The prizes are categorised into three value bands.
The higher-tier prizes range from £5,000 to £1 million, with only two £1 million jackpots available each month. The medium-tier prizes range between £500 and £1,000, while the lower-tier prizes consist of amounts between £25 and £100.
Each £1 Bond is entered into a monthly draw, with the odds of winning set at 22,000 to one. Unlike traditional savings accounts, NS&I Premium Bonds do not pay interest. Instead, they offer the potential for tax-free cash prizes, making them an attractive option for those looking for a savings alternative with an element of luck.
How to Check if You’ve Won
Premium Bonds holders can check their winnings through the NS&I website, where they will need their holder’s number. The prize checker app is another way to verify winnings, requiring either an NS&I number or a holder’s number.
Additionally, bondholders can use Alexa-enabled devices to receive instant updates on their prize status, provided they have linked their NS&I account.
Currently, there are 2,530,260 unclaimed prizes, totalling £95,312,325. Many prizes remain unclaimed because winners change addresses or contact details without updating their NS&I accounts.
This is particularly common for those who opt to receive their prizes by cheque, as outdated postal information can lead to missed winnings.
Upcoming Draws and Prize Distribution
For the March 2025 prize draw, 5,902,600 prizes worth £432,857,175 are set to be awarded. A total of 129,857,148,700 bond numbers are eligible for the draw.
The prize fund rate remains at 4.00%, meaning that each bond, regardless of when it was purchased, has the same statistical chance of winning.
To ensure quick and secure payouts, 90% of winners now receive their winnings via direct deposit or automatic reinvestment into new bonds, significantly reducing the risk of lost or unclaimed prizes.
