Here’s a breakdown of the April Premium Bond prizes
National Savings and Investments (NS&I) has revealed the April premium bond winners, which includes two £1 million prizes.
Each month, the NS&I gives out two £1 million prizes to people in the UK with money invested in Premium Bonds. The winner could have as little as £100 worth of premium bonds, or up to a maximum £50,000.
Premium Bond saving accounts do not accrue interest, rather the prizes shared out each month equate to an interest rate. Although the NS&I announced that the interest rate is reducing from April (from 4% to 3.8%), they have confirmed that the number of prizes won will remain the same.
The first millionaire is from South Yorkshire and had £43,165 worth of premium bonds. The winning bond is 494WG724922 and it was purchased in March 2022.
And the second £1m prize winner was from Hertfordshire with the maximum amount of Premium Bonds, £50,000. The winning bond number is 418AW560890 and it was purchased in October 2020.
As well as the two ultimate £1m prizes each month, multiple £100,000 prizes are handed out, as well as £5,000, £1,000, £500, £100, £50 and £25.
In April, 78 £100,000 prizes were handed out including one prize winner from Leeds, West Yorkshire, who had just £2,000 worth of Premium Bonds. A whopping 158 £50,000 prizes were handed out this month including to seven bond holders from Greater Manchester.
More than 300 people won the £25,000 prize and in total, more than £412m was handed out in prizes.
NS&I allocated prizes based on three bands – high, medium and low. They pay out two £1 million jackpots each month, then they divide the balance of the prize fund share allocated to the higher value band equally among the remaining prize values.
First they work out the number of £100,000 prizes, when there is a balance that’s less than half of that prize value, they carry it over to the share for the £50,000 prizes.
They calculate the numbers of other prizes in this value band in the same way, from highest value to lowest value. When calculating the number of £5,000 prizes, any surplus or shortfall is added to or taken from the medium value band.
For the medium value band, they calculate the number of prizes so that there is one £1,000 prize for every three £500 prizes. Any surplus is added to the share allocated to the lower value band.
And in the lower band, they work out the number of lower value prizes so that there’s an equal number of £100 and £50 prizes, and that the total number of prizes of all values (including £25 prizes) is equal to the number of eligible £1 Bond units divided by the odds.
People with Premium Bonds can view the winners online, and will be able to check their accounts from Wednesday April 2 2025.