A lucky Premium Bonds holder has become a millionaire in the April prize draw after they purchased Bonds just 10 months ago. The winning Bond number was 503VL397852 and belongs to a saver from Croydon, who has £25,000 in Bonds.
There are two £1million jackpots in each month’s draw with each Bond having an equal chance of winning the top cash prize, as winners are selected in a randomised way.
The other jackpot winner for this month is from Somerset. Their winning Bond number was 236TZ340702, which they purchased in December 2014, and they hold £50,000 in Bonds.
Jill Waters, NS&I retail director, said: “A massive congratulations to our two winners from Somerset and Croydon who must have been delighted that their visit from Agent Million was not an April Fool’s joke.
“One of this month’s winners has won £1million with Premium Bonds after just ten months, whilst the other waited nearly ten years to hit the jackpot.
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“This just goes to show that, whether it is months or years, customers up and down the country can win big and feel the magic of Premium Bonds.”
People with Premium Bonds are entered into the monthly prize draw rather than getting an interest rate for their savings.
Other top prizes include £100,000 and £50,000, with the lowest prize at £25. A person may win several prizes in one month’s draw.
Each £1 Bond has an equal chance of winning, although a person has to buy at least £25 worth of Bonds when purchasing them. A person can hold up to £50,000 in Bonds.
She said: “If you’re in a regular savings account, to get the really high percentages, you have to not touch it for a year or longer.
“Whereas Premium Bonds, you can take it out whenever you fancy. Putting funds back in, you do have to wait that extra month for it to be live again, but I wouldn’t have just Premium Bonds.
“Now the interest rates are up, it’s worth having a savings account if you have enough money for it on the side.”
She added: “I don’t know why you wouldn’t do it. I know the chances are small of winning £1million, but there is a chance, and it’s costing you nothing. It feels like a no-brainer.”
There were just over five million prizes in the April draw, worth a total of more than £331million.
This included 62 prizes for £100,000 and 125 prizes for £50,000, as well as 1.4 million prizes worth £100.
However, savers may also want to consider investing in conventional savings accounts, as interest rates remain high and are expected to peak soon.
The base interest rate has continually increased over the past year and is currently at 4.25 percent, with many banks and building societies upping their rates as the base rate has increased.
Some analysts are expecting the Bank of England to hike the base interest rate again as the rate of inflation remains high, although it is expected to drop significantly later this year.
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