Premium Bonds prize draw looms: NS&I is asking all customers to do this right now

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PREMIUM BONDS holders will no doubt be eagerly awaiting the results of the July 2020 prize draw. Amid the excitement of the draw, NS&I is asking both its new and existing customers to access their savings online at the present time.

How likely is it that a person will win a prize in the Premium Bonds prize draw?

The end of the month is rolling around, and for Premium Bonds holders, that means it’s not long to go until they find out whether they’ve won a prize in the latest draw. While many will be eager to find out whether they’ve been selected for a £1million jackpot prize in July 2020, National Savings and Investments (NS&I) has announced some changes.

It has come in response to the coronavirus crisis, which has seen the population both in the UK and across the world make huge changes to their lifestyles.

Despite some relaxation of the lockdown in different countries of the UK, social distancing measures remain in place throughout.

In order to cope with the new rules and to try to slow the spread of the virus, a whole host of organisations have needed to adapt and change the way they operate.

Amid the pandemic, NS&I has been asking customers to alter how they buy and manage their savings, where possible.

Right now, NS&I is asking savers to consider managing their savings with NS&I online, via the government-backed savings bank’s website.

Earlier this month, Jill Waters, NS&I’s Retail Director, said: “We are currently asking new and existing customers to do everything they can with NS&I online.

“Customers who invest with NS&I online will be automatically registered so that they can manage their savings online or by phone.

“This will allow them to check their balances, pay money in or take it out, choose to have any Premium Bonds prizes paid directly into their bank account and also to transfer money between their NS&I accounts.

“For any customer wishing to invest into an existing NS&I account, the quickest way to do this is to make a transfer from their bank account or to set up a standing order.

“Customers can invest into all of our on sale products using this method.”

How likely is it that a person will win a prize in the Premium Bonds prize draw?

NS&I states that the odds of winning for each £1 Bond number are 24,500 to one.

There are limits to Premium Bonds investments – with the minimum holding a person can have being £25.

There’s an upper limit too, with the maximum investment being £50,000 per person.

In June 2020, the prize fund was more than £104million.

The total number of prizes was in excess of 3.6 million – and this included two payouts of £1million each.

NS&I shared some details about these jackpot winners – while still maintaining their anonymity.

One of the June 2020 millionaires is female, and from Nottingham.

They have £50,000 invested, and the Winning Bond – 292ME808065 – was purchased in January 2017.

The other winner is male and from Stoke-On-Trent.

Their Winning Bond – 384CP325978 – was purchased earlier this year, in February 2020.

Overall, this Premium Bonds saver has a holding of  £27,500.

Among the high value winners, there were also six winners of a £100,000 payout each.

Meanwhile, 14 people were picked for a payout of £50,000 in the June 2020 draw.

How likely is it that a person will win a prize in the Premium Bonds prize draw?

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