Premium Bond Prizes Pay-outs Reduced

Your chances of scooping a big prize from your Premium Bonds will get less from May when the monthly number of prizes being given away will be cut, in line with a general reduction in interest rates across the board of NS&I’s range of savings products.
It is anticipated that the number of tax-free prizes given away in May will be down to around 2,219,493. The current figure is approximately 2,224,513. That means the total monthly prize fund will fall from the current figure of £69.5 million to £63.8 million. Cuts will come at the top-end where there will only be two £100,000 prizes instead of the current. The number of £25,000 prizes awarded will be cut by two also, to nine, whilst £10,000 prizes will go from 31 to 23. However, you will stand a greater chance of winning a £25 prize!

Popular for many years, there are at present about 21 million Premium Bond holders in the UK.

Value of prizes

 

Number of prizes in February 2017

Number of prizes in May 2017 (estimate)

£1,000,000

2

2

£100,000

3

2

£50,000

6

6

£25,000

11

9

£10,000

31

23

£5,000

58

47

£1,000

1,390

1,276

£500

4,170

3,828

£100

70,950

20,729

£50

70,950

20,729

£25

2,076,942

2,172,842

Total

2,224,513

2,219,493