Two lucky premium bond savers have begun March 2020 with a £1m jackpot win in NS&I’s latest prize draw.
The two top prizes of £1m went to savers in Cambridgeshire and Norwich, while six other winners won £100,000 each.
Here, we reveal the winning bond numbers for the March draw and look at some of the tech changes NS&I is implementing to make it easier to keep track of your winnings.
March 2020 premium bond winners
This month, the two £1m jackpot prizes were won by bond holders in Cambridgeshire and Norwich.
The Norwich winner is a woman with investments worth £50,000, and purchased her winning bond number (250KD320334) in July 2015.
A man in Cambridgeshire is the second millionaire, who has a holding of £15,700. He purchased his winning bond (334AX125846) in July 2018; it’s part of a bond worth just £25.
NS&I reduced the minimum premium bonds investment from £100 to £25 last year and since then more than 165,000 savers have purchased £25 worth of bonds.
How many winners were drawn in March?
More than 3,516,200 prizes were given out in the March draw, but 3,507,975 were worth £100 or less.
The table below shows the full breakdown of prizes:
|Value of prize||Number of prizes|
NS&I can now update winners by text
Last week, NS&I announced the launch of two new ways to make managing premium bonds that bit easier.
New and existing customers can now choose to have notifications by text or email to let them know if they’ve won a premium bonds prize – the only catch is, you’ll then have to log into your premium bonds online account, app or speak to the premium bonds ‘skill’ on an Alexa-enabled device to find out the value of the prize you’ve won.
Parents or guardians managing premium bonds for children under the age of 16 can also choose to be notified by text or email if a prize is won.
Additional news for parents is that NS&I will also enable prizes won by children’s premium bonds to be paid directly into their bank account, instead of receiving a warrant, which works a bit like a cheque.
The designated responsible parent or guardian will retain control of the child’s account until their 16th birthday.
What are premium bonds?
Premium bonds are provided by National Savings & Investments (NS&I).
Each £1 you invest is given a unique number, and all of these numbers are put into a random draw every month to win cash prizes.
But for the chance to win a prize – which range from £25 to £1m – you forfeit an interest rate.
This means your cash won’t be growing while it’s invested, but you are in the running to win £1m every month.
Money saved in NS&I is backed by the Treasury, so 100% of your money is safe – even if your savings exceed the £85,000 limit covered by the Financial Services Compensation Scheme (FSCS).
- Find out more: what are premium bonds?
The Which? Money podcast: are premium bonds worth it?
Last July, the Which? Money podcast debated whether premium bonds were really worth investing in.