Premium Bonds Holder Turns £10 into £50,000 in Monthly Draw

A Premium Bonds holder from Essex has won £50,000 in this month’s prize draw, turning their £10 investment into a substantial return of 499,900%. The bond was purchased in June 1990 and has not had any additional funds added since, as reported by the National Savings and Investments (NS&I).

At the time of the purchase, Kylie Minogue‘s hit song ‘Better The Devil You Know’ was dominating the charts, and Julia Roberts was starring in the box office hit ‘Pretty Woman’.

Two other lucky winners in this month’s draw bought their Premium Bonds in 2023. A holder based in Cambridgeshire won £100,000 from £2,500 worth of bonds purchased in August 2023, while another winner from Brighton and Hove won the same prize from a bond worth £5,795 acquired in February 2023.

Additionally, two fortunate bondholders, one from Dorset and another from the London borough of Wandsworth, won the coveted £1 million jackpot. The Dorset winner holds £28,501 in bonds since March 2008, while the Wandsworth winner has a bond worth £10,400 purchased in May 2021.

The underlying prize rate for Premium Bonds in this draw was 4.65%, with odds of winning a prize set at 21,000 to 1. NS&I has announced a cut in prize rates starting from the next month’s draw to balance the interests of savers, taxpayers, and the financial services sector. However, the odds of winning will remain the same at 21,000 to 1.

March’s draw is expected to offer 85 prizes of £100,000 as compared to 91 in January’s draw, while there will be a significant increase in £25 prizes from 1,037,784 in January to 1,425,338 in March, a rise of 37.3%.