Prizes range from £25 to £1 million and are all tax-free.
From Spring 2021, NS&I is going to start phasing out the use of Premium Bonds prize warrants – or cheques.
Instead, if you have won a prize, most are sent automatically by NS&I through your chosen payment method.
For a prize of £5,000 or more, NS&I may need to check with you first before paying it.
