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

Get the free Morning Headlines electronic mail for information from our reporters internationally

Sign as much as our free Morning Headlines electronic mail

Sign as much as our free Morning Headlines electronic mail

Every month, savers have the prospect to win huge prizes because the Premium Bonds successful numbers are introduced. There are actually 24 million folks 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, tens of millions 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 subsequent date of the following draw is Monday 3 February. The outcomes of this draw will probably be launched by NS&I the next day.

What are the probabilities of successful?

There are many premium bond winners each month, however the precise probability of successful stays pretty low. Most folks won’t ever win a prize, which means their funding will keep the identical. However, the scheme can also 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-about – however notes most individuals gained’t see something like this. Many financial savings accounts within the UK additionally supply the next rate of interest than this, which will probably be way more constant.

The distribution of prizes modifications barely each month. Here have been the leads to January 2025:

How to examine when you’ve gained

To examine when you’ve gained a prize on premium bonds, you possibly can go to the NS&I checker on its web site and enter your bond numbers.

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