Two lucky Britons have become millionaires overnight as the November 2024 Premium Bonds draw results were announced today.
The winners, hailing from Warwickshire and Cornwall, scooped the top £1million prizes in this month’s draw.
Over six million prizes were awarded this month, with a total prize fund exceeding £463million.
The popular savings product, run by National Savings & Investment (NS&I), continues to captivate savers across the UK.
Instead of earning interest, bondholders are entered into a monthly prize draw with the chance to win tax-free prizes ranging from £25 to £1million.
The first jackpot winner from Warwickshire holds £50,000 in Premium Bonds. Their winning bond number, 286CJ469715, was purchased in November 2016. This marks the ninth jackpot winner from the county.
Cornwall’s newest millionaire holds £38,000 in Premium Bonds
NS&I
Cornwall’s newest millionaire holds £38,000 in Premium Bonds. Their winning bond, 567MN061686, was bought in January 2024. They are the fifth Premium Bonds jackpot winner from Cornwall.
Dax Harkins, NS&I Chief Executive said: “As we celebrate 68 years since Premium Bonds originally went on sale, it’s great to see how the product has evolved into a beloved part of British culture, with over 22 million people saving with them.
“This month, we’re delighted to welcome two new millionaires from Warwickshire and Cornwall. With millions of prizes drawn monthly, Premium Bonds remain a popular way to save while continuing to offer the thrill of potential tax-free wins.”
The November 2024 prize draw saw a total of 6,025,741 prizes awarded, worth £463,982,050. The breakdown includes two £1million jackpots, 89 prizes of £100,000, and 177 prizes of £50,000.
Smaller prizes ranged from £25 to £50,000, with over 1.4 million £25 prizes distributed.
However, Premium Bonds savers should note that NS&I will reduce the prize fund rate from 4.40 per cent to 4.15 per cent starting with the December 2024 draw.
This change will affect the odds of winning, shifting from 21,000 to 1 to 22,000 to 1 for each £1 Bond number.
Despite this reduction, Premium Bonds remain a popular savings option, with all prizes remaining tax-free. The total prize fund has grown significantly since Premium Bonds’ inception, with £33.7billion paid out in prizes to date.
Premium Bonds have become a beloved British institution since their launch on November 1,1956. On the first day alone, Britons purchased £5million worth of Bonds.
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Today, over 22 million people save with Premium Bonds, making it one of the nation’s favourite savings products. However, some prizes remain unclaimed.
In Warwickshire, there are 17,129 unclaimed prizes worth £600,975, with the largest being £10,000 from January 2005.
Cornwall has 20,530 unclaimed prizes totalling £724,075, including a £25,000 prize from September 2019.
To prevent unclaimed prizes, over 90 per cent are now paid directly into winners’ bank accounts or reinvested into more Premium Bonds.
NS&I encourages bondholders to keep their contact details up to date and consider opting for direct payments to ensure they don’t miss out on potential winnings.
Bondholders can check if they’ve won using NS&I’s online prize checker tool or the Premium Bonds prize checker app. Winners are typically notified by email or text message.
To use the prize checker, bondholders need their bond numbers, which can be found on their bond record or through NS&I’s app.