August Premium Bonds winning numbers – have you won £1million cash prize?
Two people in outer London have scooped the Premium Bond top prize
TWO lucky Premium Bond holders have received an August pot of gold this year by scooping the top prizes in this month's draw.
Here's what we know.
Who were the August 2018 Premium Bonds winners?
A woman from outer London, the 391st Premium Bond millionaire, purchased her winning Bond in June 2012, and currently has £29,700 invested (winning Bond number 193WA458843).
While she is registered to have her prizes reinvested, her win this month will be given in person by Agent Million.
A man, also from outer London, is the second recipient of the top prize this month and the 392nd in total.
He purchased his winning Bond in June 2015, and currently has the maximum of £50,000 invested (winning Bond number 247YN655471).
Jill Waters explains: "Premium Bond prizes often become unclaimed as a result of people moving house and not telling NS&I, or not keeping their details held with us up to date.
"Agent Million would not be able to deliver the good news if you were lucky enough to win the £1million jackpot.
"Last month one of our jackpot winners not only received £1million but also received outstanding prizes won prior to notifying us of their change of address."
How do Premium Bonds work?
Premium Bonds are a savings account you can put money into (and take out when you want), where the interest paid is decided by a monthly prize draw.
You buy £1 bonds and each has an equal chance of winning, so the more you buy, the more your chances improve.
It proves that at every value someone with typical luck will earn less than the quoted prize rate.
NS&I lists the chance of one bond winning a prize in a month (one in 30,000) on its website.
You can apply to buy premium bonds over the phone, online or by post.
What size return will I get?
On average, premium bonds pay out an investment return equivalent to about 1.4 per cent.
In theory this means you would win just over a penny a year for each pound of bonds owned.
But because of the randomness of the process, you may win less – or you may win a great deal more.
Where does the prize money come from?
The prize money is not funded by the sale of new bonds.
Instead, the money represents the amount that would be paid in interest if premium bonds were regular government bonds.
The prize fund interest rate, prize values and odds of winning are all subject to change.