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News.

1 Jun 2022

Premium bond winners in June 2022: are you more likely to get a prize this month?

NS&I is giving out more than 1.4 million extra prizes
Celebrating a premium bond win

Two lucky premium bond holders have become millionaires after winning the jackpot prizes in NS&I's June’s draw. 

The £1m winners are from Essex and Kirklees. Meanwhile, 10 other winners were picked for the next-best prize of £100,000. 

This is the first draw since National Savings and Investments boosted prize rate to 1.4%, up from 1% with more than 1.4m extra tax-free prizes. 

Here, Which? reveals the winning bond numbers, and checks out the prizes available from alternative prize draws - and what your odds are of winning them.

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June 2022 premium bond prize winners

The first winning bond (281YT705546) was purchased by a lucky winner living in Essex in September 2016, as part of a total holding of £10,001. 

The second winner from Kirklees purchased their bond (464SG223887) in July 2021, and has a total holding of £50,000. 

How many winners were drawn in June?

There were 4,823,067 premium bond prizes in the June draw - up 1,407,999 from the month before. 

These prizes were worth a total of £137,859,350. Of these, 4,811,678, were worth £100 or less.  

Value of prizeNumber of prizes in JuneIncreased number prizes compared to May
£1m
20
£100,000104
£50,000198
£25,0003915
£10,0009941
£5,00019680
£1,0002,756793

Source: NS&I

Improved prize fund as premium bonds celebrate 65th anniversary

This month's prize draw is the first to use NS&I's 1.4% prize rate - it had previously been at 1% since December 2020. 

The increase prize rate comes in the same month the popular savings product celebrates its 65th anniversary, with the first draw taking place on 1 June 1957. 

The prize rate isn't an interest rate, but instead refers to the average amount earned by all premium bonds, taking in the lucky few who win £1m, and the thousands of others who don't win anything at all.

The new odds of each £1 premium bond number winning a prize is 24,500 to 1 - up from 34,500 to 1 previously. The draw also had an extra 1.4m prizes worth £40 million paid out. 

NS&I chief executive Ian Ackerley said the new rate ensured premium bonds were ‘priced appropriately when compared to the interest rates offered by competitors’. 

NS&I has to consider three things when it raises rates: 

  • its customers: by ensuring they are offered a fair rate
  • the taxpayer: by raising cost-effective finance for HM Treasury
  • the wider savings market: by making sure the rates are fair, competitive and do not distort the market.  

Find out more: what is National Savings and Investments?

Alternative prize draws to premium bonds

While there are more premium bonds prizes up for grabs, you may stand a better chance of winning with one of the prize draws offered by several current account and savings providers.

However, so far none have any prizes that come close to NS&I’s £1m jackpot. 

Virgin Money Prize Draw

What is it? Launched in May 2022, Virgin Money’s prize draw gives one saver the chance to win 1m Virgin Points, with 25 runners-up receiving a 12-bottle case of Virgin Wines (worth £150). The points can be converted into rewards using rewards club Virgin Red. A sum of 1m points could get you a safari, a stay at a luxury hotel, or flights across the globe, according to Virgin Money. 

How do you enter? Those aged over 18+ with a Virgin Money current account should log into their mobile banking app and then click ‘Exclusive Rewards’ and enter the draw. You’ll be asked for a few basic details and you need to log into your mobile app and make at least one transaction each month until September to be eligible for each prize draw. 

How much can you win? One customer will win 1m Virgin Points, and a further 25 customers will win a 12-bottle case of Virgin Wines. 

What are the odds? Varies depending on how many people satisfy the eligibility criteria each month.

Is it available throughout the UK? No; only available in England, Scotland and Wales. 

Other terms? The prize draws will take place on the first working day of each month from June until October 2022. A transaction is defined as any of the following: withdrawals, deposits, transfers and payments. Entry forms must be completed before midnight on the day before a draw. Customers switching to a Virgin Money M Account or a Virgin Money M Plus Account will receive interest of 2.2% AER (variable) on current account balances up to £1,000.  

Nationwide Member Prize Draw

What is it? A monthly prize draw for members with a fund of £1m split into 8,008 prizes. It will run until August. 

How do you enter? If you’re eligible on the last working day of the month, you’ll be entered automatically. Every member will get one entry per month, even if it’s a joint account. Prizes are drawn on the second Tuesdays of each month. 

How much can you win? There is one prize of £100,000, two prizes of £25,000, five prizes of £10,000 and 8,000 prizes of £100. 

What are the odds? Varies depending on how many people satisfy the eligibility criteria each month. In the past, Nationwide has said there were around 14.2 million members eligible for the Member Prize Draw, which would mean the odds of winning a prize are around one in 1,750. 

Is it available throughout the UK? No; only available in England, Scotland and Wales. Nationwide said that local gambling laws meant Northern Ireland couldn’t benefit, so launched its Northern Ireland Community Fund instead, offering grants of up to £5,000 to charities in the area. 

Other terms? Only those considered to be Nationwide 'members' will be entered into the prize draw. This does not include anyone who only has a Nationwide business savings account or mortgage taken out via The Mortgage Works. Nationwide also does not consider you a 'member' if you only have products such as a personal loan, credit card, investment or insurance product. You must also be over 18.  

Halifax and Bank of Scotland Savers Prize Draw

What is it? A monthly prize draw for savers with more than 1,600 prizes available to those that have a savings balance of at least £5,000. In June there will be ‘Superdraw’ giving out an extra £800,000. 

How do you enter? Hold at least £5,000 in any qualifying Halifax or Bank of Scotland account for a full calendar month. You can register even if you don't yet have £5,000 saved - you'll be automatically added to the prize draw once your savings reach the required amount. 

How much can you win? Usually three winners of £100,000, 100 winners of £100 and 1,500 winners of £100. However, in June they’ll be 10 winners of £100,000, 10 winners of £10,000, 100 winners of £1,000 and 1,500 winners of £100. 

What are the odds? Varies depending on how many people satisfy the eligibility criteria. 

Is it available throughout the UK? No; only available in England, Scotland and Wales. 

Other terms? Any savings in joint accounts will be split equally and account holders will need to register separately. Entrants must be aged 18 or over. You’ll need to hold £5,000 for the whole calendar month to be entered into the next prize draw but it can be made up of all your savings in all your qualifying accounts. All Halifax savings account and cash ISAs qualify, except those held for children. Most Bank of Scotland branded personal retail savings accounts also qualify.  

Yorkshire Building Society Make Me a Saver 

What is it? Yorkshire Building Society's prize draw pays 10 cash prizes of £1,500 each month to cover the average cost of household outgoings. It runs until January 2023. 

How do you enter? Those aged 16+ with a Yorkshire Building Society 'Make Me A Saver' regular savings account must deposit between £50 to £150 each calendar month. 

How much can you win? Ten winners will get £1,500 each. 

What are the odds? Varies depending on how many people satisfy the entry criteria each month. 

Is it available throughout the UK? No; only available in England, Scotland and Wales. 

Other terms? Prize draws will take place on the 3rd of each month. Unlimited withdrawals are allowed, but if the balance at the end of each calendar month isn't £50 more than it was the previous month, the account won't be entered into the prize draw taking place on the 3rd of the following month. Money held in the Make Me A Saver account will receive 1% AER variable interest. On 1 February 2023, any money held in Make Me A Saver accounts will be transferred to Yorkshire Building Society's Easy Saver account.