Premium Bonds: How to boost your chances of winning NS&I’s January £1million jackpot

Premium Bonds are a popular savings with many people across the country which was launched in the 1950s by NS&I.

Due to the financial institution being backed by the Government, those who deposit money into any of their products or offerings will see their savings 100 percent protected from potential harm.

Through Premium Bonds, savers are able to deposit and withdraw cash whenever they like but interest is determined by a monthly prize draw.

The top jackpot prize in the monthly competition is £1million which explains the ongoing popularity of Premium Bonds in the UK.

Outside of this staggering amount of money, other amounts that can be won through the draw include £100,000, £50,000 or £25,000.

READ MORE: Pension: What happens to my savings when I die? Important rules

As of today, interest on Premium Bonds is set at one percent, but this is subject to change depending on what is happening in the wider economy.

Due to being a monthly competition which takes place multiple times a year, the Premium Bonds prize winners are announced at the beginning of every month.

For the New Year, the first prize draw will take place on January 4, 2022. This is slightly later in the month than usual due to the Christmas holidays.

Before the announcement date, many people across the UK will be seeking advice and guidance on boosting their chances of winning before NS&I announces the results.


Through Premium Bonds, savers can buy £1 bonds, and each bond has an equal chance of winning.

Following this method, the more someone buys, the more their chances improve. However, Britons should not buy outside their means.

From February 2019, the minimum bond someone could hold is worth £17, however savers are able to purchase up to £50,000 if they desire.

The winning numbers for the NS&I’s lottery is determined by a machine, which is called Electronic Random Number Indicator Equipment or commonly known as ERNIE.

This question is usually asked as the majority of recent winning Premium Bonds have been numbers bought since the turn of the millennium, despite the prize draw being much older than that.

In response to this query, the NS&I states: “Each £1 Bond number has an equal chance of winning, regardless of when or where it was bought.

“Over 95 percent of eligible Premium Bonds have been bought since the year 2000. So even though Premium Bonds have been on sale for over 60 years, this is why newer Bonds seem to win more frequently.

“When ERNIE randomly generates winners, it doesn’t store any numbers, so there’s no way any Bonds can be left out.

“In 2004, the £1million jackpot was won by a customer with only a £17 holding, who bought them in 1959.”

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