Winners of the Premium Bond December £1 million jackpot announced
The National Savings & Investments (NS&I) has announced the winners of the December 2024 Premium Bond draw, with over 5,806,049 prizes worth a staggering £441,743,525 up for grabs.
Prizes will be paid out according to the winner's preference, either directly into their bank account or as reinvested Premium Bonds. The odds of winning remain the same at 22,000 to one for each bond held, despite the lower prize fund rate, which currently stands at 4.15%.
In this draw, two lucky winners have become millionaires. The million-pound jackpot winners are from Kent and Cumbria. The winner from Kent holds bond number 405PY086681 and has £50,000 in Premium Bonds, purchased in July 2020. The second winner from Cumbria holds £33,275 in Premium Bonds and drew bond number 538KR930303, purchased in April 2023.
Most winners receive smaller prizes, with 88% of prize winners winning less than £2,000. The annual prize fund rate, reflecting the "average" return, was about 3.8% but is set to fall to 3.6% from August 2025.
The prize range for this draw extends from a minimum of £25 to a top prize of £1 million. Analysis shows that in recent years, most jackpot winners held over £10,000 in bonds, and 75% of jackpot winners held more than £25,000, indicating larger holdings increase winning frequency.
The NS&I website, mobile app, and Alexa allow checking for December 2024 Premium Bond winnings, as well as previous draws. Alternatively, call NS&I for free if registered for phone or online banking. If no payment method is set, a cheque will be sent, so it's important to update one's address.
It's worth noting that the scheme is backed by the UK government with a 100% guarantee on capital, making it a low-risk but potentially low-return way to save, with the added excitement of prize draws.
With over 9 in 10 prizes paid directly into winners' bank accounts or automatically reinvested into more Premium Bonds, it's clear that many people are reaping the benefits of this popular savings scheme. However, with millions of pounds worth of unclaimed prizes sitting idle, it's important for bondholders to check their winnings regularly.
References: [1] NS&I (2023). Premium Bonds. Retrieved from https://www.nsandi.com/premiumbonds [2] HM Treasury (2023). Premium Bonds. Retrieved from https://www.gov.uk/premium-bonds
Personal-finance enthusiasts who invest in NS&I Premium Bonds have the opportunity to boost their savings, as evidenced by the two winners in the December 2024 draw who claimed million-pound prizes. If fortunate enough to win, such winnings can be directly deposited into a bank account or reinvested into more bonds.
