Premium Bonds jackpot winners for January 2022 announced – have you won £1million?

Martin Lewis gives updated advice on premium bonds

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This month, there were two lucky winners of the top Premium Bonds £1million prize. The first winner is from Hertfordshire, with the winning bond 258VJ570205, which was purchased in October 2015. This person’s winning bond was valued at £12,000 and they had an overall holding of £50,000 in Premium Bonds.

Joining this winner was another lucky individual from Lancashire, with the winning bond 127VF630970, which was purchased in May 2007.

Their winning bond was valued at £5,000 with the individual having an overall holding of £30,000.

It is common for NS&I to have two £1million winners in its Premium Bonds lottery for any given month.

At the beginning of each month, the financial institution confirms some details about the lucky few who take home the grand prize, with this latest announcement being the first of the new year.

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First launched by NS&I in the 1950s, Premium Bonds are savings accounts which have been popular with hundreds of thousands of people across the UK.

Being a savings institution backed by the Government, any deposits made with Premium Bonds are 100 percent protected from future potential harm.

Through Premium Bonds, account holders are able to withdraw and deposit cash whenever they want.

However, the unique aspect of this NS&I offering is that interest is determined by a monthly prize draw.

As part of this prize draw, the largest amount someone can win in any month is £1million. Other cash prizes include £100,000, £50,000 or £25,000.

Currently, the annual Premium Bonds prize fund rate stands at one percent, however this is subject to change depending on movements in the wider economy and decisions made by NS&I, as well as the Government.

As mentioned, winners for the prize draw are announced at the beginning of each month with January 2022’s winners being confirmed today (January 4, 2022).

Every single bond gets a special number, which includes letters, for every £1 they invest into NS&I’s savings product.

All winning bonds are chosen by ERNIE, NS&I’s Electronic Random Number Indicator Equipment.

This generator helps randomly select which Premium Bond holders will secure the £1million jackpot safely and fairly.

On his website Money Saving Expert, financial journalist Martin Lewis shared his thoughts on Premium Bonds and the chances one may have of winning the £1million prize.

Mr Lewis explained: “Premium Bonds are all about your mentality. They do protect your cash, so even if the returns don’t look like a good bet, it’s fine to put a non-significant portion of your money in them, provided you’re aware it’s more for fun than returns.

“Before deciding, use the calculator to look at the real odds. If you’re willing to take the gamble after that, then it’s fine.

“Many people often think, ‘I’m likely to get about one percent and there’s a small chance of winning a million’.

“But the main point is that this isn’t correct. You’re actually likely to get less than one percent, and there’s a negligible chance of winning a million.

“If you know and you’re OK with this, then investing in Premium Bonds isn’t a bad plan.”

More information on the Premium Bonds draw for January 2022 are expected to be released later today, with a breakdown of how many winners there were overall.

The prize checker will be updated by tomorrow.

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