November Premium Bonds draw: dates, prizes, and how to check your numbers
Millions of people participate in the Premium Bonds savings scheme each month for a chance to win cash prizes. The government-backed scheme currently holds over £137 billion in savings from 22 million participants.
Premium Bonds are offered by National Savings and Investment (NS&I), a government-owned organization. Each month, a prize draw is held, with prizes ranging from £25 to £1 million. Two millionaires are created at each draw.
For every £1 invested, there’s a 22,000-to-one chance of winning. The minimum investment is £25, and the maximum is £50,000. Unlike traditional savings accounts, Premium Bonds don’t earn interest; instead, bondholders are entered into a draw managed by Ernie, the Electronic Random Number Indicator Equipment.
The November draw will take place on Monday, November 2. The results will be released by NS&I the following day.
While many people are drawn each month, the odds of winning remain low. The scheme is risk-free, meaning invested money is not lost.
Money expert Martin Lewis has analyzed Premium Bonds, finding an equivalent ‘interest rate’ of 3.8 percent when considering all winnings. However, he notes that most participants do not receive returns close to this amount. Many UK savings accounts offer higher, more consistent interest rates.
Savers can check for winning numbers by visiting the NS&I website or using the NS&I app.
Source
“Premium Bonds prize checker: When is November’s NS&I draw and have I won?”
Read the original report ↗This story is an AI-assisted version of the original report, checked and edited by the Plainwire desk before publication. Read our editorial policy · Report an error
Read next
Bank of England poised for interest rate increase
The Bank of England is anticipated to raise interest rates for the first time since August 2023, potentially impacting borrowers across the United…
Related
Caught up in five lines
The Brief: the day’s biggest stories, written by our desk at and .