MILLIONS of savers are in for a better shot at a Premium Bonds windfall next month.
NS&I is boosting the prize fund rate for the second time this year, and the September draw is just days away.
When is the next Premium Bonds draw?
The next Premium Bonds draw takes place on Tuesday, September 1 – the first working day of the month.
Results land on the NS&I prize checker on Wednesday, September 2.
That is standard practice, with the checker updating the day after each draw.
Winners of the bigger prizes can check NS&I’s list on the first working day of each month, which covers prizes from £5,000 up to the £1million jackpots.
If you have opted for bank payment, winnings normally reach your account by the seventh working day of the month.
What are the new Premium Bonds odds and prize rate?
The prize fund rate climbs from 3.8% to 4.35% in time for September’s draw, having previously risen from 3.3% in July.
This means the odds on each £1 bond shorten from 22,000-to-1 to 21,000-to-1.
That is the highest the rate has been since March 2024.
The overall prize pot grows by roughly £63million to more than £497million, with over 308,000 extra prizes compared with August.
NS&I estimates a total of more than 6.5million prizes.
Two £1million jackpots remain the same, but there will be 12 more £100,000 prizes, 27 more £50,000 prizes and 51 more £25,000 prizes, plus over 2.3million awards of £100.
On August 16, NS&I Retail Director Andrew Westhead said: “Not only is NS&I boosting Premium Bonds from September, but from today we are also increasing interest rates for our British Savings Bonds, plus our Direct Saver and Income Bonds.
“This is to ensure we reflect current market conditions and help to meet our Net Financing target.
“This is the second time this year we have been able to increase the Premium Bonds prize fund rate and shorten the odds.
“The September Premium Bonds draw is now expected to have more than 6.5million tax-free prizes worth over £497million.
“Premium Bonds continue to offer over 22million savers of all ages the monthly excitement of tax-free prizes with 100% security backed by HM Treasury, and the flexibility to withdraw at any time.”
How do I check if I won?
The quickest route is the prize checker on the NS&I website, or the Premium Bonds prize checker app.
You need your holder’s number, which appears on your bond record or in your online account.
Winners are also contacted by email or text, so it’s a good idea to make sure your details are current.
Prizes never expire, so it is worth checking for older unclaimed wins going back to the very first draw in 1957.
Premium Bonds are sold in £1 units, with a minimum purchase of £25 and a maximum holding of £50,000.
Recently purchased Premium Bonds must have been held for the whole of August to be eligible to enter the September draw.