NS&I Premium Bonds March Winners Announced: Liverpool and Norfolk Savers Secure £1 Million Each
All NS&I Premium Bonds holders are being urged to check their accounts on Tuesday morning, as the March prize winners have been revealed. Two savers, one from Liverpool and another from Norfolk, have won the life-changing top prizes of £1 million each.
Details of the Winning Bonds
The first winner is based in Liverpool and holds bond number 496VT504601. This bondholder has the maximum allowable investment of £50,000 in Premium Bonds. The second £1 million winner resides in Norfolk with bond number 282NN327573, which was purchased in September 2016 with an initial value of £40,000. Like the Liverpool winner, the Norfolk saver also holds the full £50,000 in Premium Bonds overall.
Monthly Prize Structure and Announcement
Each month, NS&I awards two £1 million prizes, along with a range of smaller sums from £100,000 down to £25. Andrew Westhead, NS&I Retail Director, commented: "Spring has well and truly arrived for two Premium Bonds holders in Liverpool and Norfolk, who are each celebrating a £1 million win this March." He added that this month, ERNIE drew more than six million tax-free prizes worth over £410 million.
To check if you are a winner, bondholders can use the NS&I prize checker app starting Tuesday, 3 March.
Changes to Prize Rates and Odds
It comes as NS&I announces it is cutting the proportion of the total invested amount paid out in prizes from 3.6% to 3.3% per year, effective from April’s draw. As a result, the odds of winning with each £1 bond number will lengthen from 22,000-1 to 23,000-1.
Benefits of Premium Bonds
When you buy Premium Bonds, you are entered into a monthly prize draw where you can win between £25 and £1 million tax-free. Alastair Douglas from the consumer credit website TotallyMoney highlights one of the key advantages: "For example, if you held the maximum amount of £50,000 and won the equivalent of 3.3%, that’s £1,650 tax-free. A higher-rate taxpayer earning the same in savings could face a bill of £743." This tax-free status makes Premium Bonds particularly appealing for higher-rate taxpayers.
