NS&I Premium Bonds results out for August draw | U.Okay.Finance News
NS&I has introduced the Premium Bonds winners for the August draw together with the 2 £1million jackpot winners.The prize draw takes place in the beginning of every month with every £1 Bond that goes into the draw having an equal probability of being chosen for a prize. There are all the time two £1million jackpot prizes on offer.The first £1million jackpot goes to a individual in Central Bedfordshire with successful Bond quantity 148YD123622, which they bought in December 2008, once they purchased £1,000 in Bonds. They beforehand had a complete of £7,000 invested.A fortunate winner who lives in an abroad area gained the opposite £1million huge money prize. Their successful Bond was quantity 205XQ030808, which they bought in May 2013. They beforehand had the utmost holding quantity of £50,000 in Premium Bonds.Savers could wish to be aware the prize fund price is falling from the August draw, dropping from 3.8 % down to three.6 %. This is the third time the speed has been cut this yr, following reductions in January and in April.Among the large money prize winners for August was a individual from Avon who gained £25,000 for a Premium Bond they bought over 65 years in the past, in March 1958.In distinction, one saver from Leeds took home a £100,000 prize for a successful Bond they bought simply a few months in the past, in April 2025.Many people set up their accounts so once they win a prize, the funds are used to buy more Bonds, so rising their possibilities of successful again.Despite the drop within the prize fund price, the percentages of every £1 successful will keep the identical, at 22,000 to at least one. This means even these with low holdings stand a probability of bagging a huge win.In the August draw, one buyer from Sefton who had simply £100 in Bonds gained £10,000. But the overwhelming majority of the large prize winners had a five-figure investment, with many holding the utmost £50,000 in Bonds.You can examine in case you have any prizes to gather utilizing the prize checker software on the NS&I web site. With the latest price drop, clients have been suggested they might wish to have a look at different financial savings choices.Tom Francis, head of Advice at Octopus Money, warned clients: “Premium Bonds are a fun, safe way to save, but if you’re serious about growing your money, they’re probably not the best place to park your cash.”The finance knowledgeable warned there’s a main disadvantage with the scheme: “The big problem is they don’t pay interest. So, unless you win a prize, and most people don’t, your money just sits there, quietly shrinking in value over time.”Inflation is doing its factor within the background, and with out curiosity to offset it, you are successfully shedding money the longer it sits.”If you do not win any prizes, the worth of your holdings merely stays the identical. But on this scenario, your holdings are successfully shedding worth as the price of dwelling and different costs go up, eating into the buying energy of your money.
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