Premium Bonds savers may be wondering if the prize-based savings scheme is still right for them as the prize fund rate drops for a second time.
The prize fund rate is now at four percent, after two rate drops in recent months. The rate fell from 4.4 percent to 4.15 percent in the December draw, and has fallen again this month.
This means there will be fewer prizes on offer in the monthly prize draw, with less cash in the total prize pot. The odds of each £1 Bond winning are now at 22,000 to one.
Figures from NS&I show there were 5.85 million prizes in the January draw, compared with 5.76 million in the December draw.
The total winnings dropped from £441,743,525 to £429,090,875, a decrease of more than £30million.
These were the total number of each category of prize in the January draw, and how this compares to the December draw:
- £100,000 – 82 (down from 84)
- £50,000 – 163 (down from 169)
- £25,000 – 328 (down from 338)
- £10,000 – 818 (down from 844)
- £5,000 – 1,636 (down from 1,687)
- £1,000 – 17,163 (down from 17,669)
- £500 – 51,489 (down from 53,007)
- £100 – 1,987,844 (down from 2,100,898)
- £50 – 1,987,844 (down from 2,100,898)
- £25 1,803,871 (up from 1,530,453).
People from nine areas in total won £100,000 or more. The provider shone a spotlight on the areas of Liverpool and Gloucestershire as the two £1million jackpot winners for January were from these areas.
The eight £100,000 winners are from: - South west Wales
- Inner London
- South Yorkshire
- Inner London
- North Yorkshire
- Wales
- Fife
- West Sussex
The number of prizes and total winnings in each monthly varies and can go up and down compared to the previous month. There will continue to be two £1million jackpot prizes in each draw.
NS&I has encouraged customers to check if they have any unclaimed prizes to collect as there are millions of pounds worth of prizes yet to be claimed.
In Liverpool, a total of 8,974 prizes are yet to be collected, worth £325,025 in total. The largest unclaimed prize is worth £5,000, from the May 2023 draw.
Almost three times as many prizes have yet to be claimed in Gloucestershire, with 22,409 prizes waiting to be collected, worth £775,125 collectively.
The biggest unclaimed prize in the south west county is worth £5,000, dating back to the April 2019 draw.
You can check if you have any unclaimed prizes using the prize checker tool on the NS&I website or via the prize checker app.
