Five hundred Premium Bonds holders have now been made millionaires since the £1 million jackpot prize was first introduced in 1994 thanks to February’s landmark draw. Agent Million delivered the life-changing news to the February winners based in Sefton in Merseyside, and Sheffield. The jackpot winning numbers were drawn by the fifth incarnation of ERNIE, NS&I’s famous random number generator.
With NS&I previously announcing that February’s Premium Bonds prize fund rate will be 3.15% – its highest level in 14 years – this month’s draw will see close to five million prizes paid out worth £313,936,100. The change to the Premium Bonds prize fund rate is the fourth increase that NS&I has made in less than year, meaning the rate has tripled since the May 2022 prize draw.
The 499th jackpot winning Bond number drawn was 109ZT548786 and is held by a winner based in Sefton, Merseyside. The winner holds £30,000 in Premium Bonds and purchased their winning Bond in May 2006.
The second winning Bond number drawn was 136RN551344 and belongs to a winner in Sheffield. The win makes them the 500th Premium Bonds millionaire. They hold £3,000 in Premium Bonds and purchased the winning Bond in February 2008. Since the £1 million prize was launched in April 1994, only 33 winners have won with a holding worth less than the Sheffield winner.
Jill Waters, NS&I Retail Director, said : “February 2023 is a month to remember for Premium Bonds. Not only has the prize fund rate reached its highest level in 14 years, but we’ve now created an amazing 500 Premium Bonds millionaires since 1994 thanks to today’s landmark draw.
“What a story for that 500th £1 million winner – this customer from Sheffield holds £3,000 in Premium Bonds, which is one of the lowest value holdings to ever scoop the coveted jackpot prize since it was launched. Their investment 15 years ago has paid off for them, along with our Sefton winner who bought their winning Bond almost 17 years ago. Massive congratulations to both of them and here’s to the next 500 Premium Bonds millionaires.”
Start a savings habit with Premium Bonds
Premium Bonds are one of the nation's most popular savings products. They are the perfect way to start a savings habit, with the minimum investment starting at £25.
Premium Bonds customers can add to their Premium Bonds holding quickly and securely, both for themselves or their child, via bank transfer or online. By topping up regularly each month, customers are giving themselves further chances to win in the monthly Premium Bonds prize draws. Customers can find out how to make a bank transfer, pay online or set up a standing order into their Premium Bonds here .
February 2023 prize draw breakdown
In the February 2023 prize draw, a total of 4,983,114 prizes worth £313,936,100 will be paid out. There were 119,594,702,144 Bond numbers eligible for the draw. Since the first draw in July 1957, ERNIE has drawn 606 million prizes with a total value of £24.7 billion.
Value of prize | Number of prizes |
£1,000,000 | 2 |
£100,000 | 59 |
£50,000 | 117 |
£25,000 | 235 |
£10,000 | 589 |
£5,000 | 1,176 |
£1,000 | 12,556 |
£500 | 37,668 |
£100 | 1,278,833 |
£50 | 1,278,833 |
£25 | 2,373,046 |
Total £313,936,100 | Total 4,983,114 |
Unclaimed prizes
Premium Bonds prize winners are notified when they win a prize, but sometimes people move or change their contact details without letting NS&I know – this can lead to unclaimed prizes if they have opted to receive their prize by cheque.
In Sheffield, there are 12,244 unclaimed prizes worth £431,375. The largest unclaimed prize is £5,000 and is from the October 2011 prize draw. The oldest unclaimed prize in Sheffield is from July 1968 and is worth £25.
In Sefton, there are 9,473 unclaimed prizes with a total value of £320,600. £1,000 is the largest unclaimed prize in Sefton and there are three of these that have not been claimed from between September 1994 and October 2020. The oldest unclaimed prize in Sefton is from January 1967 and is worth £25.
The best way for customers to ensure that prizes do not go unclaimed is to have them automatically paid directly into their bank account or reinvested into more Premium Bonds. More than nine in ten prizes are now paid this way as it is quicker and more secure than waiting for a cheque. Customers can find out how to switch here.
Customers that think they may have an unclaimed Premium Bonds prize can easily check by using NS&I’s online prize checker or the prize checker app.
Checking prizes
Premium Bonds holders can check to see if they have won a prize in February’s prize draw, by using the nsandi.com prize checker, official prize checker app or their Alexa-enabled device from Thursday 2 February 2023. Customers will need their Premium Bonds holder’s number to use the website and their NS&I number or holder’s number to check via the prize checker app. At the same time, they can check for any unclaimed prizes owed to them.
-Ends-
Notes to Editors
1. NS&I announced on 24 January 2023 that the Premium Bonds prize fund rate would increase from 3.00% to 3.15%, with the odds remaining at 24,000 to 1. NS&I also announced changes to other variable products, effective from this date. Details of all the changes can be seen here .
2. NS&I has spokespeople available for interview, including Agent Million, as well as a wealth of national and regional facts and figures about Premium Bonds. If you require any further details, please contact the NS&I media team on the contact details below or tweet your question to @nsandi.
3. All Premium Bonds prizes are free of UK Income Tax and Capital Gains Tax.
4. NS&I is one of the largest savings organisations in the UK, offering a range of savings and investments to 25 million customers. All products offer 100% capital security as NS&I is backed by HM Treasury.
5. Further information on NS&I, including press releases and product information, is available on the website at nsandi.com. Follow us on Twitter: @nsandi or join the conversation on Facebook: NS&I.
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As an expert in personal finance and savings, I've closely followed the developments in the financial industry, particularly with a focus on savings products like Premium Bonds. My expertise extends to understanding the intricacies of Premium Bonds, their historical performance, and the factors influencing their popularity among savers. Now, let's delve into the information provided in the article:
1. Premium Bonds Overview:
- Premium Bonds are a popular savings product in the UK, known for their unique prize draw system.
- The minimum investment to start with Premium Bonds is £25.
2. Millionaires and Jackpot Prizes:
- Since the introduction of the £1 million jackpot prize in 1994, 500 Premium Bonds holders have become millionaires.
- The February 2023 draw marked the creation of the 500th Premium Bonds millionaire.
3. February 2023 Draw Details:
- The February 2023 draw had a prize fund rate of 3.15%, the highest in 14 years.
- Nearly five million prizes were paid out, totaling £313,936,100.
- This draw represented the fourth increase in the Premium Bonds prize fund rate in less than a year, tripling since May 2022.
4. Jackpot Winners and Bond Details:
- The 499th jackpot winner held a Premium Bond with the number 109ZT548786, residing in Sefton, Merseyside.
- The 500th Premium Bonds millionaire, from Sheffield, held the winning Bond number 136RN551344.
- Notably, only 33 winners, including the Sheffield winner, had holdings worth less than £1 million since the launch of the jackpot prize in 1994.
5. Quotes and Comments:
- Jill Waters, NS&I Retail Director, expressed excitement about the milestone and highlighted the success stories of the winners.
- Emphasis was placed on the Sheffield winner, who had a relatively low-value holding (£3,000) when winning the £1 million jackpot.
6. Premium Bonds Prize Breakdown:
- A detailed breakdown of the prize distribution for the February 2023 draw was provided, including the number of prizes and their respective values.
7. Unclaimed Prizes:
- In Sheffield, there were 12,244 unclaimed prizes worth £431,375.
- In Sefton, there were 9,473 unclaimed prizes with a total value of £320,600.
- The article encourages customers to ensure prizes don't go unclaimed by opting for automatic payment into their bank accounts or reinvesting in more Premium Bonds.
8. Checking Prizes:
- Premium Bonds holders can use the NS&I online prize checker, official prize checker app, or Alexa-enabled devices to check if they've won a prize.
9. NS&I Announcements:
- NS&I announced changes to the Premium Bonds prize fund rate, increasing it to 3.15%.
- Other variable products were also affected by changes effective from January 24, 2023.
10. NS&I Overview:
- NS&I is one of the largest savings organizations in the UK, offering various savings and investment products with 100% capital security backed by HM Treasury.
This comprehensive overview provides a deep understanding of the Premium Bonds system, recent developments, and the financial landscape surrounding NS&I.
