Nationwide is paying out 8,008 prizes worth a collective £1m in September
Savers have until the last day of August to open an account and enter
It is open to customers who hold a current or savings account or mortgage
There is a 1,773 to 1 chance of winning £100 or more - but is it a feel good way for it to get away with paying loyal savers low rates?
How to enter Nationwide s new £1m prize draw with just £1 thisismoney.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thisismoney.co.uk Daily Mail and Mail on Sunday newspapers.
16 million Premium Bond holders have never won a single prize
But 12 savers became millionaires on their first draw
Three quarters of all Premium Bond customers haven’t won a single prize
Credit: Mark Magnaye
Three-quarters of all Premium Bond holders – nearly 16 million people – have never won a single prize, despite investing a collective £108bn, Telegraph Money
can reveal.
National Savings & Investments’ hugely popular Premium Bonds enter customers into a monthly draw in lieu of interest, with prizes ranging from £25 to £1m.
But 15.9 million of a total 21.4 million Premium Bonds customers have not won a single prize since NS&I’s records began in 2007, a Freedom of Information request submitted by this newspaper has shown.
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Nationwide Building Society is giving savers two extra chances of winning £100 through its Start to Save prize draws.
The additional prize draws will take place on the 21 July and 21 October 2021.
Last Friday, the third Start to Save prize draw took place, which resulted in 1,304 savers winning £100 each. The odds of winning in the January 2021 prize draw were 1 in 36 and the winners are currently being notified by email. The prizes will be paid into their account at the start of February.
To be in with a chance of winning a £100 prize, Start to Save account holders need to increase their account balance by between £50 to £100 in the three calendar months prior to the prize draw.