NS&I Announces March Premium Bonds Winners Amid Upcoming Prize Fund Rate Cut

National Savings and Investments (NS&I) has revealed the winners of the March 2025 Premium Bonds draw, just ahead of a significant change to the prize fund rate.

Two lucky individuals have secured the top prize of £1 million, with one winner from Cumbria and the other from Cleveland.

The Cumbrian winner, who purchased their winning bond in August 2020, holds a total of £35,000 in Premium Bonds. The winning bond number is 408VD714629. In contrast, the Cleveland winner holds a much smaller stake, with a bond valued at just £100, purchased in May 2023. Their winning bond number is 540HZ735699.

This month’s draw also saw 71 winners claim £100,000, 141 receive £50,000, and numerous other prizes ranging from £25 to £10,000.

Despite the excitement around these wins, NS&I has announced that the prize fund rate will be reduced from 4% to 3.8% starting with the April 2025 draw. However, the odds of winning remain unchanged at 22,000 to 1 for every £1 bond.

The rate adjustment reflects broader changes in the savings market, with NS&I also reducing rates on other products like Direct Saver and Income Bonds. Meanwhile, the interest rate for NS&I’s Direct ISA was recently increased to 3.50% AER, providing some relief for savers.

Savers can check if they have won by using the NS&I Premium Bonds Prize Checker, which will be updated shortly.

The reduction in the prize fund rate may prompt some to reassess their savings strategies, but for now, the allure of tax-free prizes continues to attract millions of participants each month.

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