NS&I saver with just £300 in Premium Bonds wins £100,000 just months after buying bond

This month's draw saw four lucky holders win big prizes, with holdings less than £1,000.

One winner got £100,000 with a holding of just £300.

The holder from West Yorkshire, purchased their winning bond in November 2023.

Another Premium Bonds holder scooped a £100,000 prize from a bond worth £700.

The winner from Berkshire purchased the Bond in August 1998 - almost 26 years ago.

A Premium Bonds holder from Bridgend And Neath Port Talbot has managed to turn £100 into £50,000 after winning one of the £50,000 prizes in this month's prize draw.

They purchased their winning bond in February 2006.

Another Premium Bonds holder won a £50,000 prize with a £650 holding. The winner, from Preston put their money into Premium Bonds in December 2006.

Launched in 1956, Premium Bonds are issued by NS&I and have been used by governments to raise funds.

Unlike investments offering savers interest or a regular dividend income, Premium Bonds offer customers the chance to win between £25 and £1million tax-free in a monthly prize draw.

This month, the two jackpot winners were from Surrey and Southampton.

The Winning Bonds, 352QK018542 and 294DL518203, were bought in February 2019 and January 2017, respectively.

The smallest holding of a £1million prize winner over the past 50 draws was just £1,001 by a saver in Devon in August 2021.

The smallest holding ever to land the jackpot was £17 in July 2004 and this winner was based in Newham, east London.

There were 5,909,748 prizes given out in the June prize draw, worth a total of £455,050,550. Among the prizes, £5,833,718 was won by prizes worth £100 or less.

The odds of each £1 premium bond number winning a prize are currently 21,000:1.

The popularity of Premium Bonds has surged by 44 per cent over the past four years as prize rates have become more generous.

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There were 124.1 billion bond numbers eligible for the June draw – up from 120 billion this time last year and 86.1 billion in March 2020.

A total of 5.9 million prizes worth more than £455million were paid out to Premium Bonds holders this week in June’s draw, up from 3.5 million prizes in March 2020.

Andrew Hagger, personal finance expert of MoneyComms, said: "Many people realise their chance of a £1million jackpot is pretty slim but there are 3,220 prizes available each month with a value of between £5,000 and £100,000 – for that reason, there’s always a chance of a decent prize.

"If you have a bigger holding you have more chance of winning, but there are plenty of examples of smaller holdings winning six-figure sums."