Premium Bonds: NS&I explains why it seems

Ali KhanNov 27, 2020Business

This week, rate reductions from NS&I – which stands for National Savings and Investments – came into force. Among the savings products affected were Premium Bonds.

This machine generates random numbers for each monthly draw, and this is how the winners are determined.

Amid the changes, many may well be wondering about the likelihood of themselves winning a prize.

It seems it’s something which many people do enquire about, as NS&I has addressed the matter in its Frequently Asked Questions (FAQs) on NS&I’s Adviser Centre.

The query reads: “Do only people in the South East of England win the £1million jackpot?”

DON’T MISS

Clearing up the misconception, the government-backed savings provider explained this is not the case at all.

However, there is a reason why some may assume this.

“If it seems that more prizes are won by holders in the South East, that’s because there are more Bonds held there compared with the rest of the UK,” NS&I said.

“However, winners regularly come from other parts of the country.

Both female, one Premium Bonds holder is from Devon and the other from West Sussex.

While the latter had a maximum holding of £50,000, the former had £39,375 invested.

In the same month, there was seven winners of a £100,000 payout.

Prev Next 1 of 1,125 instant= new adsenseLoader( '#quads-ad2-place', { onLoad: function( ad ){ if (ad.classList.contains("quads-ll")) { ad.classList.remove("quads-ll"); } } });

Stay connected with us on social media platform for instant update click here to join our ????️????️ T witter, & Facebook