The first big winners for this months Premium Bonds have been announced. And one person from Nottinghamshire has won a huge jackpot of £1 million.
The lucky winner bought their winning £50,000 Bond 417YB876187 in October 2020 and woke up this morning one million pound richer. The Mirror reports that a second person from Oxfordshire also won the jackpot with a Bond worth £30,284 bought in January 2018.
The NS&I (National Savings & Investment) gives away two £1million prizes each month to Premium Bond holders. Premium Bonds is an investment product that works by entering a prize draw with your Bonds, instead of getting interest each month.
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So a person's chance at winning the jackpot is down to chance every month, with many people not winning anything at all. For each £1 that is invested you are given a unique bond number and eligible investors can win between £25 and £1 million tax free money every month.
With only two people a month winning the million, it is usually more expected that people will only win the smaller sums- however some months, you may not win anything at all. People looking to invest in Premium Bonds should know that the minimum you can spend is £25 and the maximum is set at £50,000- the odds of a bond winning currently stand at 24,000 to 1 for every £1 invested.
Jill Waters, NS&I Retail Director, said: "Our warmest congratulations go to our two jackpot winners from Nottinghamshire and Oxfordshire, and to all our winners over the years. Since the first ever Premium Bonds draw in 1957, we’ve now paid out a staggering £25.1 billion in prizes – that’s an impressive milestone, and shows why Premium Bonds continue to be so popular with so many people.
"Could you be a jackpot winner next month? Make sure all your contact details are up to date, including your address – you never know, one of our Agents Million might be knocking on your door sometime soon to deliver the life-changing news."
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Anyone who wants to check if they have won some money can use the NS&I prize checker online, or the Premium Bonds prize checker app. Amazon Alexa can also tell you the latest winning numbers.
Winners have the option to have prize money paid directly into their bank account or to have it reinvested into new Premium Bonds. Winners should also receive an email or text message from NS&I confirming the win.
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