A saver wins £1 million with just £10k in Premium Bonds

NS&I has declared the winners of the Premium Bonds prize draw for March

How can one determine whether they have won a prize and who was the winner of the 1 million jackpot?

The Premium Bonds jackpot winners for March 2025 have been revealed by NS&I. While many others have also won smaller cash prizes, one saver who had only £100 in assets overnight became a millionaire.

Cumbria and Cleveland are the locations of this month's two Premium Bonds millionaires.

The winning bond of the Cleveland jackpot winner, 540HZ735699, was only worth 100 Premium Bonds prior to winning the jackpot. They bought their winning bond in May 2023.

The Cumbria winner has 35,000 in Premium Bonds total, including bond number 408VD714629. August 2020 saw the purchase of the winning bond.

Agent Million, an NS&I employee whose identity is kept a secret and who tells jackpot winners of their luck, will have visited the two winners. The awards for many other winners will have ranged from £25,000 to £100,000.

Tomorrow, March 4, those who took home lesser prizes can check their luck.

NS&I Retail Director Andrew Westhead stated: "With our two jackpot winners from Cleveland and Cumbria this month, spring is undoubtedly in the air. The Cleveland winner's story is especially noteworthy because, in 2023, only 100 were invested in Premium Bonds. Only that each Bond has an equal chance of winning the £1 million prize.

"This holding is the second-smallest to ever win the £1 million prize. In July 2004, the winning Bond was bought in 1959, making it the smallest holding ever to win.

Premium Bonds winners for March 2025.

In the March 2025 draw, the winners of Premium Bonds will receive more than 430 million, worth more than 5.9 million in prizes.

The NS&I uses the March draw's prize fund rate of 4% as a benchmark to decide how many prizes should be awarded each month.

The prize fund rate will decrease to 3 to 8 percent starting with April's draw, which means that those with average luck will have a marginally lower rate of return.

Next month, the odds of winning a prize will stay at 22,000 to 1 for every bond.

How to determine whether you are the winner of the February NS&I Premium Bonds.

As of tomorrow, March 4, you can find out if you have won a Premium Bonds prize.

With your Premium Bonds number in hand, you can use the NS&I app (available on iOS and Android) or the online NS&I prize checker tool to accomplish this. You can also use the tool to view your winnings from earlier draws.

Additionally, you can check for prizes in draws dating back to 1986 using an Amazon Alexa.

Or, you can send a letter to NS&I at NS&I, Sunderland SR43 2SB. The following should be included.

Your name, current address, premium bond number, and any prior addresses where you may have registered bonds Your signature You can also call NS&I at 08085 007 007 for free, but you can only use this method if you are already enrolled in NS&I's phone or online banking. It's worth seeing if you haven't claimed any prizes if you have been investing in Premium Bonds for a while. Approximately 2.5 million prizes, valued at nearly 94 million, have gone unclaimed, according to NS&I.

If you have an unclaimed Premium Bond from the 1950s (which 13 people have), it is still worthwhile to check because the prizes do not expire.

How will I get my reward?

You will have specified your preferred method of payment for Premium Bonds prizes when you first open an account with NS&I. Your cash prize will be deposited straight into your bank account if you chose automatic payments. You had the option to have your winnings reinvested in Premium Bonds in the interim.

Over 90% of prizes are either automatically reinvested or deposited into winners' bank accounts, according to NS&I.

You'll get a check if you didn't choose automatic payment or reinvestment. Before purchasing your Premium Bonds, you should confirm that your address has been updated if you have moved.

The NS&I website allows you to modify your payment method.

Some other savings prize draws available on the market are examined in our guide to Premium Bonds alternatives.