Premium Bonds: NS&I announces September 2024 winners - who took home the £1million prize?
NS&I has revealed the winners of the September 2024 Premium Bonds, with two fortunate savers winning the £1 million jackpot prizes.
A person from West Sussex won the top prize with Bond number 388VE682612, which was bought in April 2020 and was worth a total of £18,101.
The second person who won a million dollars is from Manchester and has the winning Bond number 569RS008033.
This lucky person purchased their winning Bond in February 2024 for £10,000 and now has a total holding of £21,700.
NS&I is urging all Premium Bonds owners to make sure to check if they have won any prizes in the September draw, as there are many other big prizes that have been given out.
Many people who saved a small amount in Bonds were also fortunate in the September raffle.
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Premium Bonds users can see if they have won with the NS&I Premium Bonds prize checker app or website.
An individual from Birmingham was able to secure a prize of £100,000 even though they only had £525 invested in Bonds. Likewise, a saver from Surrey with only £700 in Bonds also managed to win a £100,000 prize. A standout success story in South Scotland involved a seasoned investor who claimed a £100,000 prize on a Bond purchased almost fifty years ago in January 1976.
The prize checker tool from NS&I can be found on their website and app, and it lets Bond holders see if they have won any prizes that they haven't claimed yet. There could be more than one prize up for grabs in each draw, so it's a good idea for savers to check their accounts to see if they have any winnings dating back to September or even earlier.
Andrew Westhead, the Retail Director at NS&I, expressed his congratulations to the recent winners from West Sussex and Manchester. He described it as a wonderful way to end the summer on a high note.
I also want to give special congratulations to the lucky winner of the top prize, who won £100,000 with just a small investment of £525.
Premium Bonds are a special type of savings option provided by NS&I. Instead of receiving interest like regular savings accounts, bondholders have the chance to win prizes in a monthly draw instead.
The rewards can vary from £25 to £1 million, and any money won is not subject to UK Income Tax or Capital Gains Tax. Every £1 Bond has the same possibility of winning, with the current chance standing at 21,000 to 1. The current rate for the prize fund is 4.4 percent.
People who save money can put anywhere from £25 to £50,000 into Premium Bonds. Some choose to automatically put any money they win back into the bonds to improve their chances of winning in the future.
Nevertheless, there is no assurance of winning. Some investors may go extended periods of time, even years, without seeing a profit on their investment.
NS&I releases a new version of the Premium Bonds prize checking application on a monthly basis.
NS&I adjusts the prize fund rate to meet different goals and priorities.
NS&I's main goal is to offer a good interest rate for people who want to save money, while also making sure that the government gets good value for the money they put in. NS&I is supported by the government and the money it collects helps fund the Treasury.
Monk also mentioned that it is important not to disrupt the commercial savings market by offering rates that other providers are unable to match.
He pointed out that the prize fund rate is thoughtfully taken into account when compared to other savings choices: "You can observe how the prize fund rate stacks up against savings rates in the graph provided below. The blue line represents the average rate earned by cash ISA investors, using data gathered by the Bank of England and adjusted by volume."
