Premium Bonds, a lottery system run by NS&I, operates a prize draw each month, with the top prize standing at a staggering £1 million. Amid the coronavirus crisis, some Britons could be waking up substantially richer – who won in May? This month, two lucky winners clinched the £1 million Premium Bond prize, a welcome reward.
The lucky millionaires were not the sole prize winners this month, with many other Britons entitled to substantial prizes.
Six fortunate people can claim their £100,000 prize, with an extra 13 entitled to £50,000.
25 winners can claim £25,000, and many more have won £10,000.
Premium Bonds have been issued in the UK since 1956, predating the famous National Lottery draw.
Prize winners are calculated by NS&I’s automated system ERNIE – the Electronic Random Number Indicator Equipment.
It generates numbers at random which are then matched against bond numbers to determine the winners.
The government-backed organisation is currently on ERNIE number 5.
According to NS&I: “ERNIE 5 is powered by quantum technology, which uses light.
“This new technology allows ERNIE to produce enough random numbers for a monthly prize draw in just 12 minutes – 42.5 times faster than its thermal predecessor at the end of its number-generating career.”
Anyone aged 16 or over can buy bonds, and you can buy from £25 up to £50,000 in total.
There is no interest earned on your bonds, instead, the interest rate funds a monthly prize draw for tax-free prizes.
Those who believe they may have won a prize are encouraged to visit the NS&I website to check their bond number.
NS&I provides a quick and easy to use calculator which allows bond holders to enter their number, with the hard work done for them.
Published at Fri, 01 May 2020 07:44:00 +0000