Is it possible for you to become a Premium Bond victor in the following month? (Picture: Getty Images)The cost of existence predicament continues to affect a variety of things, ranging from household expenses to the price of groceries. With many items increasing in price over the past year, and millions of people struggling to make ends meet due to the upward trend in prices.
This indicates that all of us are pondering on various ways to earn more money, such as taking on a side gig, securing a pay raise, or even being incredibly fortunate and winning some cash.
One potential approach to attaining this is through premium bonds, an initiative developed by National Savings and Investments (NS&I). Those who invest money in premium bonds have a chance to participate in a monthly prize draw, starting from £25.
On the other end of the spectrum, you could walk away with £1 million. However, only two fortunate premium bondholders win this sum each month, making it significantly more probable for you to secure a smaller amount.
With NS&I raising the interest rates on its bonds, with a rate of 4.65% in September, now is an excellent moment to invest and provide yourself with an opportunity to score a reward.
But when is the next draw, and how can you check if you’ve won anything?
When is the Premium Bond draw for October?
The Premium Bond draw for the following month will transpire on Monday, October 2.
Historically, the draw always takes place on the first day of the month. However, it is moved to the next working day if the 1st falls on a weekend or bank holiday.
You can employ the application or utilize the website to check if you’re a winner (Picture: PA)The remaining draw dates for 2023 are as follows:
Wednesday, November 1
Friday, December 1
How to verify the Premium Bond prize winners
If you possess Premium Bonds and wish to verify whether you’ve secured a prize in the most recent monthly draw, you can utilize the NS&I online prize checker.
Nevertheless, you will need to have an account and log in, as you are required to provide your unique holder’s number.
How do Premium Bonds operate?
Premium Bonds are a savings product offered by National Savings and Investments (NS&I). However, instead of earning interest on your money as is typical with savings accounts, you are enrolled in a monthly prize draw.
If your bond is selected, you have the opportunity to win anywhere from £25 to £1 million.
To participate in the next monthly prize draw, you must have maintained ownership of any bonds for an entire calendar month.
For example, if you purchase £100 worth of bonds in mid-September, you will not be eligible for the next prize draw until November.
MORE: Premium Bonds chances of winning are at their highest level in 15 years – are you participating?
Keep up with Metro across our social media platforms: Facebook, Twitter, and Instagram
Share your thoughts in the comments section below