Asked by: Carmen Ellis
What are the odds of winning 100 on premium bonds?
Chances of winning each Premium Bonds prize per bond
|Prize amount||Number per month||Odds of winning at least this amount per £1 bond in one month|
|£500||5,859||1 in 14,596,316|
|£100||31,734||1 in 2,946,722|
|£50||31,734||1 in 1,638,781|
|£25||3,324,584||1 in 34,500|
What are the chances of winning a prize on the Premium Bonds?
Premium Bonds are a unique savings product in the sense that it doesn’t offer an interest rate but rather an annual prize fund rate. Currently, this sits at one percent, and the odds of winning per £1 Bond number stand at 34,500 to one.
How long does it take to receive a premium Bond prize?
If you win, we’ll let you know the good news by email or text message. You’ll then normally receive your prize money in your bank account by the 7th working day of the month.
How quickly are premium Bond winners notified?
If you defy the odds and win big then you will be notified with a visit in person. A NS&I representative will visit the two £1 million winners at their homes the day before the first working day of the month and before the rest of the winners are announced 24 hours later.
What does Martin Lewis say about Premium Bonds?
Money guru Martin Lewis has recently answered this burning question in a bid to help people make the most of their money. The MoneySavingExpert has said that premium bonds are the UK’s biggest savings product, with more than 21 million people saving over £117 billion in them.
Is it better to buy Premium Bonds in a block?
A There are all sorts of theories. However there is absolutely no evidence that holding premium bonds in a single block has a better chance of winning.
Is there a downside to Premium Bonds?
Disadvantage: Initial delays:
Bonds purchased are entered into their first prize draw after they have been held for a full prize cycle. That means that Bonds bought during March will be held back until the May prize draw. That means that, borrowing from your Premium Bonds could mean that you miss a winning month.