United Kingdom

Premium Bonds winner scoops £1m with one of the lowest holdings

One lucky Premium Bond holder has become a millionaire with one of the smallest ever holdings to win.

The woman from Devon has £1,001 in Premium Bonds and was one of the two Premium Bond holders this month to scoop the £1million jackpot.

The popular National Savings and Investment product allows savers to stick up to £50,000 in the accounts and roughly one in three of the population hold them.

Magic number: With more than 111bn bond numbers eligible to win the chances of winning one of the two £1m prizes per £1 bond are over one in 55.5bn (picture posed by model)

The odds of each individual Bond number winning any prize are currently 34,500 to one.

Of the 464 Premium Bonds millionaires on record, just 12 others have won the £1million jackpot with a smaller overall holding.

The woman purchased the winning Bond in July 2020, meaning that it has won the jackpot in the 12th draw that it was eligible to do so.

Jill Waters, retail director at NS&I, said: 'The winner from Devon shows that, no matter how much you hold in Premium Bonds, you're always in with a shot at winning the £1 million jackpot.

'Each and every £1 Bond has an equal opportunity, which is what the magic of Premium Bonds is all about.'

Premium Bonds Winners

Prize Area Value of bond
£1,000,000 Devon £1,000
£1,000,000 Wales £100
£100,000 Hampshire and Isle of Wight £10,000
£100,000 Wiltshire £12,500
£100,000 Norwich £19,500
£100,000 Avon £2,000
£100,000 Lancashire £4,625
£50,000 Essex £10,000

More August 2021 winners

View list of August 2021 winners

The second Bond number drawn belongs to a woman from Wales, holding a total of £10,051 in Premium Bonds and her winning Bond was an automatically reinvested prize from a previous Premium Bonds £100 prize win in March 2013.

Winners can choose to either have prizes they win paid directly into their bank account or reinvested into more Premium Bonds.

Waters said: 'Our winner from Wales scooped the jackpot with a Bond that was reinvested from a prize win in March 2013.

'I'm sure that our winner from Wales will be banging the drum for having prizes automatically reinvested into more Premium Bonds now that she's a millionaire after choosing that option.'

On top of the two £1 million prizes, there were five winners of the £100,000 prize, 11 winners of the £50,000 prize and 21 winners of the £25,000 prize.

Around 3.2million prizes worth close to £93million will be paid out from this month's draw with more than 111billion bond numbers eligible, up from just circa 110billion in June and 109billion in June.

Many people have continued to pile into Premium Bonds during the pandemic, although demand has waned since NS&I cut the number of prizes in December last year.

In March 2020, prior to lockdown restrictions, there were just over 86billion eligible bonds for the draw, meaning almost £25billion has been put into Premium Bonds since the pandemic began.

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