personal finance

NS&I premium bond winners: Premium bonds high value winners for May 2019


Premium bonds winning numbers for May 2019 have been released by savings bank NS&I, and some people have scooped thousands in tax-free winnings. This month, the prize fund totalled £94 million, and 3.2 million prizes have been handed out. One man from Kent and one woman from York have won £1 million each.

These are the May premium bond high-value winners:

– £1,000,000 210VY427248 Kent

– £1,000,000 152JH073647 York

– £100,000 289JD174031 Central Scotland

– £100,000 350ZZ264852 Kent

– £100,000 74WE434804 Cornwall

– £100,000 200XC138999 Kent

– £100,000 52GD331289 Scotland

– £50,000 239JF759243 Kent

– £50,000 113GP816415 Outer London

– £50,000 353TH494631 Cornwall

READ MORE: Premium bonds numbers LOST

How are premium bonds chosen?

Only those who have opened a savings account with NS&I are in with a shot of winning a premium bonds prize.

Each pound in an account with the savings bank is assigned a unique ID number, meaning those with the minimum £25 deposit have 25 different numbers.

The Electronic Random Number Indicator Equipment (ERNIE) then determines prize draw winners by picking out one of these numbers each month.

READ MORE: Premium bonds April 2019 winners

Are premium bonds worth it?

The only way to gain interest with a premium bonds savings account is by winning a prize each month.

This is more likely for those who already have a lot in savings, as someone who has £50,000 in their account has 50,000 different numbers which could be picked to win each month.

Even with a higher chance of winning, you are more likely to gain just £25 as a one-off rather than any significant amount.

READ MORE: Premium bonds February winners

The chances of winning in the monthly premium bonds draws are low, even for the smallest amount.

According to Martin Lewis of MoneySavingExpert.com, the odds of winning £25 are one in 24,000.

The odds of winning the big ticket £1 million prize are one in 39 billion.

This means premium bonds are a poor choice for those looking to reliably add interest to their savings.



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