In the UK there are around 21 million people with Premium Bonds all hoping to win big in the monthly prize draw.

First introduced in 1956, Premium Bonds are an investment product which is issued by National Savings and Investments (NS&I).

Premium Bonds can help earn interest or a regular dividend income and the monthly prize draw means you’re in with the chance to win between £25 to £1 million of tax-free money.

There are only two £1 million winners every month, with other prizes including amounts of £100,000 or £100, many use Premium Bonds accounts as a way to save money whilst being in with a chance to earn.

When are Premium Bonds drawn each month?

Prizes for Premium Bonds are drawn at the start of the month, often the first day of the month unless that day is a bank holiday or on the weekend.

If the 1st of the month lands on a weekend of bank holidays, then the prize draw will take place on the next possible day.

For example, if the start of the new month is a Saturday, Premium Bonds winners will be announced on Monday.

Elsewhere, if the start of the month is a bank holiday, then the prize draw will next possible day, likely on Tuesday.

How to check if you have won on Premium Bonds

You can check your account via the NS&I website.

Prize draws are conducted every month and prizes of up to £1,000,000 are given away.

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To find out if you have ever won a Premium Bonds prize, you will need to dig out your holder's information and head over to the prize checker.

You will need your holder’s number which you can find on your bond record, or in the app.

You can also use your NS&I number which you should be able to find on any communication about your bonds.