A key change to the Premium Bonds rule is coming in from the April draw
The Premium Bonds prize draw takes place at the start of each month(Image: Getty)
Premium Bonds holders will be excitedly checking their accounts as NS&I has announced the April prize draw winners. This latest round of prize winners comes as major changes to the savings scheme’s rules take effect.
Every prize draw features two £1million jackpot prizes. The first top prize was awarded to a customer from Surrey, with the winning Bond 519FV988513. This Bond was acquired in November 2022, as part of a £5,000 investment. The winner held the maximum £50,000 ahead of the April draw. The second £1million prize was claimed by someone from Hampshire And Isle Of Wight, for the winning Bond 511HH360429. They purchased this Bond in August 2022, as part of a £34,650 Bond investment. This winner also held the maximum £50,000 entering this month’s draw.
Uncollected prizes
Savers can verify whether they have any prizes awaiting collection through the prize checker tool on the NS&I website or via the prize checker app. According to NS&I data, more than 2.7 million prizes remain unclaimed, representing over £118million in the outstanding pot.
Focusing on the two regions where this month’s top prizes were secured, Hampshire And Isle of Wight has over 79,000 unclaimed prizes. The highest unclaimed prize stands at £25,000, won in August 2024.
Residents across Surrey are sitting on more than 72,800 unclaimed prizes, totalling over £3million. The largest prize yet to be collected in the area is worth £50,000 and dates back to June 2019.
Important updates to Premium Bonds rules
NS&I has lowered the prize fund rate for Premium Bonds from April’s draw onwards. The rate has fallen from 3.6 per cent to 3.3 per cent.
Additionally, the odds of winning for each £1 Bond have worsened, moving from 22,000 to one down to 23,000 to one. Every £1 Bond has an identical chance of securing a prize.
You can boost your odds of winning by purchasing additional Bonds, up to the maximum holding limit of £50,000. Many savers set up their accounts so that any winnings automatically purchase more Bonds.
A key advantage of this approach is that your newly acquired Bonds become eligible for the following month’s draw. In contrast, when you buy Bonds directly, they must wait an entire calendar month before entering the monthly prize draw.