The odds of any Premium Bonds winning a prize in a monthly prize draw is one in 22,000. Your chances of winning a prize depend on NS&I’s “prize fund rate” and the amount you’ve invested.

For every £1 bond in the monthly prize draw, the odds of winning are 22,000 to one, according to the NS&I. In April, the annual prize fund rate dropped from 4 per cent (variable) to 3.8 per cent.

To check if you’ve won a prize on premium bonds, you can visit the NS&I checker on its website and enter your bond numbers. There is also an NS&I app which allows savers to check results on the ...

Premium Bonds holders have been warned to brace for more prize fund rate cuts ... the total prize payout relative to the total amount of Bonds entered into the monthly draw will fall. The odds of each ...

Essex tops the table in July’s Premium Bonds draw, with holders in the region securing the greatest total prize amount, more than any other area ...