Have I won the Premium Bonds? How to use the NS&I prize checker for October 2023 draw and when results are

Premium Bonds are a well-liked saving method in the UK and can be enjoyable, but you must understand that you may not receive a steady stream of income.

National Savings and Investment (NS&I), a state-owned savings bank, provides a type of investment opportunity.

Rather than receiving the conventional interest on their funds, investors with the bonds get the chance to be part of a monthly lucky draw where they can win tax-exempt rewards ranging from £25 to £1 million.

The amount of money awarded as prizes has gone up a lot this year, which is because the UK's interest rates are going up too. Right now, the prize fund rate is the highest it's been in almost 25 years.

October 2023 Premium Bonds Winner?

This month, two people who own Premium Bonds got really lucky and won the grand prize of £1m. One of them is from Greater Manchester and the other one is from west Scotland.

The initial bond digit selected was 284MT463803 and it belongs to a triumphant person residing in Greater Manchester. The particular victor has invested a whopping £50,000 in Premium Bonds and procured their fortunate bond in the month of October 2016. They have now become the third receiver to emerge victorious with the jackpot prize hailing from Greater Manchester.

The next person who became a millionaire is situated in the western region of Scotland and owns bond number 159TJ094783. In addition to this, they have invested £50,000 in Premium Bonds and bought the lucky bond in September 2009. With this win, they have become the third millionaire from the same region in Scotland.

During the prize draw that will take place in October 2023, there will be a whopping 5,786,217 prizes given out. All of these prizes combined will amount to a grand total of £470,853,175.

Did I Win Premium Bonds? How To Check

If you possess Premium Bonds and desire to know whether you have won a reward in the most recent monthly drawing event, you can utilize the NS&I internet-based reward verification tool at this location.

You have another option to acquire the app without charge through iOS or Android. Moreover, if you own an Amazon Alexa device, it can also assist by keeping track of the past six prize draws so you won't forget.

If you want to find out about your Bonds, you'll require your one-of-a-kind holder's number, which can be located on your bond record or by accessing your account on the NS&I website. It will be consisting of either nine or ten digits, or possibly be an eight-digit figure with a letter at the conclusion.

You can claim prizes from the first draw in 1957 as there is no time limit. MoneySavingExpert reports that there are over two million Premium Bond prizes that have not been claimed, worth almost £75 million, as of November 2021.

Premium bond holders have the option to prevent prizes from being left unclaimed by selecting automatic reinvestment or direct payment into their bank account. This reduces the likelihood of unclaimed prizes.

According to NS&I, almost 90% of prizes are now distributed through this method, and further information can be obtained at the provided link.

Chances Of Winning Premium Bonds?

Earlier this year, the prize fund's interest rate went up from 2.2 percent to 3 percent. Afterwards, it climbed even higher to 3.3 percent.

The percentage rose to 3.7 in July, and subsequently surged to 4 percent in preparation for the August event.

NS&I has once again increased their prize fund rate for the month of September, with a substantial bump up to 4.65 percent – the largest it has been since March of 1999.

The alteration indicates that the probability of an individual bond triumphing has increased, moving from 24,000/1 in July to 21,000/1, making it the greatest level since April 2008's lottery.