Premium Bonds June 2020: did you win this month’s prize?
Winners come from Nottingham and Stoke on Trent
2nd June 2020 10:04
by Stephen Little from interactive investor
Winners come from Nottingham and Stoke on Trent
Two lucky winners have won the £1 million jackpot in June’s Premium Bonds draw from National Savings and Investments (NS&I).
This month’s victors come from Nottingham and Stoke-on-Trent.
A woman from Nottingham had the maximum holding of £50,000 invested. She bought the winning Bond number (292ME808065) in January 2017.
June’s second Premium Bonds millionaire is a man from Stoke-on-Trent who had £27,500 invested. His winning bond number (384CP325978) was purchased in February 2020.
In the June 2020 prize draw, a total of 3,641,580 prizes worth £104,088,425 will be paid out.
Value of prize | Number of prizes |
£1,000,000 | 2 |
£100,000 | 6 |
£50,000 | 14 |
£25,000 | 25 |
£10,000 | 64 |
£5,000 | 128 |
£1,000 | 2,081 |
£500 | 6,243 |
£100 | 28,555 |
£50 | 28,555 |
£25 | 3,575,907 |
Source: NS&I, June
How to claim your prize
You can check to see if you have won on the NS&I website or by using its prize checker app.
Customers will require their Premium Bonds holder number to use the website and app.
You can also choose to have the prize money paid directly into your bank account if you have registered for NS&I’s online service.
Customers should visit nsandi.com and click ‘Log in’, go to ’Your profile’ and select ‘Your prize options’.
There are currently are more than 1.7 million Premiums Bonds prizes worth more than £65 million waiting to be claimed.
If you think you have an unclaimed Premium Bonds prize you can use NS&I’s tracing service or the My Lost Account website to help you track them down.
Should you invest in Premium Bonds?
Unlike other savings accounts, premium bonds do not pay interest. This means your money is not making anything each month and will gradually lose its value as inflation creeps up.
Instead, holders of Premium Bonds are entered into a monthly prize draw.
The more bonds you buy, the greater your chances are of winning. The NS&I says that the average saving's interest rate is 1.4% after regular "wins".
But you are not guaranteed to win. In fact, the NS&I says the odds of winning for each £1 bond number are 24,500 to one.
So even if you invest thousands of pounds you might not win anything for years.
On the plus side, Premium Bonds can be cashed in at any time and as they are protected by the Government your investment is 100% safe, which some may find appealing.
This article was originally published in our sister magazine Moneywise, which ceased publication in August 2020.
These articles are provided for information purposes only. Occasionally, an opinion about whether to buy or sell a specific investment may be provided by third parties. The content is not intended to be a personal recommendation to buy or sell any financial instrument or product, or to adopt any investment strategy as it is not provided based on an assessment of your investing knowledge and experience, your financial situation or your investment objectives. The value of your investments, and the income derived from them, may go down as well as up. You may not get back all the money that you invest. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser.
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