Premium Bonds prize checker: When is May’s draw and the way can I test if I’ve gained? | EUROtoday

Every month, savers have the prospect to win huge prizes because the Premium Bonds successful numbers are introduced. There are actually 24 million individuals collaborating within the government-backed financial savings scheme, with greater than £127bn banked.

Premium bonds are an funding product from the National Savings and Investment (NS&I), which is owned by the federal government. Each month, hundreds of thousands of savers are entered right into a prize draw to win money prizes starting from £25 to £1 million, with two millionaires made at each draw.

Every £1 entered has a 22,000-to-one probability of successful. The minimal funding is £25, whereas the utmost is £50,000.

These financial savings don’t accrue curiosity as with common financial institution accounts, however are put up in opposition to a random digital prize picker referred to as ‘Ernie’ – the Electronic Random Number Indicator Equipment.

The date of this month’s draw is Thursday 1 May. The outcomes of this draw can be launched by NS&I the next day.

What are the possibilities of successful?

There are many premium bond winners each month, however the precise probability of successful stays pretty low. Most individuals won’t ever win a prize, which means their funding will keep the identical. However, the scheme can be risk-free, which means cash gained’t be misplaced both.

Analysis by cash professional Martin Lewis discovered that the ‘interest rate’ on premium bonds accounts is 4 per cent when all winnings are thought of – however notes most individuals gained’t see something like this. Many financial savings accounts within the UK additionally supply a better rate of interest than this, which can be much more constant.

The distribution of prizes modifications barely each month. Here had been the ends in January 2025:

How to test should you’ve gained

To test should you’ve gained a prize on premium bonds, you’ll be able to go to the NS&I checker on its web site and enter your bond numbers.

There can be an NS&I app which permits savers to test outcomes on the go.