Don’t miss out on Premium Bonds prize – check now to see if you won in February

There were 3,363,088 Premium Bond prizes in the February 2022 draw worth between £25 and £100,000. All together, the prizes were worth a total of £96,688,825.

This month, two were made millionaires and six people won £100,000.

Notably, 3,363,088 of the prizes were worth £100 or less.

NS&I offers an online service where people can enter their holder’s number and check to see if they have won any prizes.

The tool also reveals each month’s highest value winners.

The two £1million jackpot prizes went to Premium Bond holders living in Leeds and Essex.

The first winning bond (193NH145072) was purchased in June 2012 and belongs to an individual who had a total holding of £20,002.

The second person bought their winning bond (446WL848124) in March 2021 which was part of an overall holding of £50,000.

NS&I doesn’t name the winners but does release information regarding their location, the winning bond number and how much Premium Bonds holdings each winner has.

DON’T MISS:

NS&I calculates the number of prizes by dividing the balance of the prize fund share allocated to the higher value band equally among the remaining prize values.

For example, they first work out the number of £100,000 prizes and when there is a balance that’s less than half of that prize value, this is then carried over to the share for the £50,000 prizes.

The draw and winning bonds are revealed on the first working day of each month.

The winning bonds are selected by ERNIE, NS&I’s Electronic Random Number Indicator Equipment.

According to NS&I, it takes up to three banking days for the prize money to reach a person’s account.

The exception to this is if a person selects the option of cashing in after the next draw.

Premium Bonds are owned by around 21 million people in the UK.

First introduced in 1956, they are an investment product issued by the Government-backed savings provider National Savings and Investments (NS&I), which offers saving and investment products to the public.

Unlike other investments where people earn interest or a regular dividend income, the Premium Bonds concept involves individuals entering into a monthly prize draw.

Essentially, a person invests in a savings account from NS&I and buys £1 bonds, with each bond having an equal chance of winning.

It is not possible to earn regular income on Premium Bonds because people are not guaranteed to get any percentage of the money they contribute.

Any prizes won from Premium Bonds are free from UK income tax and capital gains tax.