December's winners have been announced (Image: PA)

The Premium Bonds winning numbers are announced every month, giving millions of savers a chance to win huge sums of money. There are now 24 million people taking part in the government-backed savings scheme and new people joining the scheme all the time.

The investment product from the National Savings and Investment (NS&I) is owned by the government. Each month, savers are entered into a prize draw to win cash prizes ranging from £25 to £1 million. There are two lucky winners every month , who will become millionaires overnight.

Every £1 entered has a 22,000-to-one chance of winning . The minimum investment for the scheme is as low as £25 and the maximum is £50,000. The savings don’t accrue interest as with regular bank accounts

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