Premium Bonds winners October 2023: Winning NS&I numbers this month and how to check if you won

This month's jackpot of £1 million has been won by two fortunate people who hold Premium Bonds. One individual is from the west of Scotland, and the other is from Greater Manchester.

The lucky ticket for the initial bond number, 284MT463803, belongs to a fortunate person residing in Greater Manchester who has purchased Premium Bonds worth £50,000. This bond was purchased in October 2016 and has made the said person the third jackpot winner from Manchester.

The second person who has become a millionaire resides in the western part of Scotland and has the bond number 159TJ094783. They possess Premium Bonds worth £50,000 and procured the bond that led to their victory in September 2009. This triumph has made them the third millionaire from that area of Scotland.

The upcoming prize draw in October 2023 will be awarding a grand total of 5,786,217 various prizes, valued at an impressive £470,853,175.

Premium Bonds - How They Work?

Premium Bonds are a well-liked savings option in the UK and may be enjoyable as long as you acknowledge the fact that they may not provide a steady source of income.

The option to invest is provided by the Government-owned savings bank, National Savings and Investment (NS&I).

Instead of receiving the typical steady interest earnings on their funds, individuals who own these bonds are included in a chance-based lottery every month, with tax-exempt rewards ranging from £25 to £1 million.

This year, the amount of money available to be won as a prize has gone up a lot. This is because the interest rates in the United Kingdom have also gone up. Right now, the prize fund is the highest it has been in almost 25 years.

"Checking Premium Bond Winning Status: How?"

If you own Premium Bonds and would like to see if you've won a prize in the most recent monthly draw, you can use the NS&I digital prize verification tool.

An option you have is to get the app for free on either your iOS or Android device. You can also use an Amazon Alexa device to keep track of past six prize draws by "remembering".

If you want to see the status of your Bonds, you'll require your exclusive holder's number. This can be located on your bond record or by accessing your NS&I account online. It will consist of either nine or ten numerals or an eight-digit combination with an appended letter.

There is no deadline for claiming prizes, meaning you can still receive winnings from the very first drawing in 1957.

MoneySavingExpert reported that in November 2021, over 2 million prizes from Premium Bonds had not been claimed yet, amounting to almost £75m in total value.

Premium Bonds owners have the option to decrease the likelihood of not receiving their rewards by choosing to have them deposited directly into their bank account or reinvested into additional Bonds.

According to NS&I, nearly 90% of the rewards are now given through this method, and additional information can be obtained by clicking here.

Can I Win Premium Bonds?

Earlier this year, the rate of return on their reward fund increased from 2.2% to 3%, and then went up again to 3.3%.

The percentage increased in July to 3.7 and then rose once more to 4 percent before the draw in August.

NS&I has once again decided to increase the prize fund rate for September, offering a considerable boost to reach 4.65 per cent. This is the highest it's been since March 1999.

The modification indicates that the likelihood of a particular bond emerging as a winner has been enhanced. The odds, which were 24,000/1 in July, have now risen to 21,000/1, representing the most favorable odds since the April 2008 draw.