When are the Premium Bond prizes announced for July?

The cost of living crisis isn’t really letting up – despite the new price cap dropping some bills drastically.

As prices elsewhere continue to soar or stretch people’s budgets to the limit, the bleak outlook has resulted in shops securing the likes of chocolate bars and baby formula behind locked cases.

So, short of a lottery win, a huge pay rise or a miracle, many are looking at ways of bumping up the money flowing into their accounts.

And one such way could be with premium bonds – the initiative set up by National Savings and Investments (NS&I) which sees a monthly prize draw for those who invest money with them, starting from £25.

Lucky bond holders could also win bigger this month. NS&I increased its prize fund rate to 3.7% for its July 2023 draw, up from 3.3%, and it will rise again to 4%from August.

When is the monthly prize draw for July?

When is the July Premium Bond prize draw?

The prize draw for July will take place on Monday, July 3.

After this, the next prize draw will take place on Tuesday, August 1.

They take place each month. The rest of the 2023 draw dates are:

• Friday, September 1
• Monday, October 2
• Wednesday, November 1
• Friday, December 1

How to check the Premium Bond prize winners

If you hold Premium Bonds and want to check if you’ve won a prize in the latest monthly draw, you can use the NS&I online prize checker.

However, you’ll need to hold an account to log in, as you must provide your unique holder’s number.

How do Premium Bonds work?

Premium Bonds are a savings product from National Savings and Investments (NS&I). But, instead of earning interest on your money like usual savings accounts, you are entered into a monthly prize draw.

If your bond is chosen, you could be in line to win anything from £25 through to £1 million.

And, while statistically, the odds might suggest you aren’t going to win with a smaller investment, the June prize draw showed that someone with just £2 in holdings won £10,000.

To enter into the next monthly prize draw, you must have held onto any bonds for a full calendar month.

So, for example, if you buy £100 worth of bonds in mid-July, your next eligible prize draw won’t be until September.

MORE : How much household appliances will cost to run from July 2023 – from fridges to tumble dryers

MORE : Huge change coming to Universal Credit in August 2023 – are you affected?

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