Premium Bonds Winner Claims £1 Million Prize with Bond Purchased Just Six Months Prior

A resident of Kent has won a £1 million prize in the latest National Savings and Investments (NS&I) Premium Bonds draw, with the winning bond purchased only six months ago. The prize winner, who holds £21,000 in Premium Bonds, bought the winning bond in February, making this month its first eligibility for the draw.

This marks the 25th jackpot winner from Kent since the £1 million prize category was introduced in 1994. Another £1 million prize in the August draw was awarded to a winner from Hampshire and Isle of Wight, who purchased their bond in March 2022 and holds £49,850. This individual is the eighth £1 million jackpot winner from that region.

Across the country, the August draw saw over 6.2 million prizes awarded, totaling more than £433 million. Since the first draw in June 1957, a total of 850 million prizes have been distributed. The odds of winning any prize per £1 bond stand at 22,000 to one, with an annual prize fund rate of 3.8 percent. All prizes awarded through Premium Bonds are tax-free.

In addition to the two top prizes, the draw included other notable wins. A £1 bond purchased in 1971 won £1,000, while a £650 holding bought in March secured a £100,000 prize. Another winner in Kent received £50,000 from a £20 holding bought in July 1981.

NS&I reports that over 99 percent of prizes have been successfully claimed since the draw's inception. However, there are currently 2,837,572 unclaimed prizes worth £125,420,775. In Kent, 74,859 prizes totaling £3,330,250 remain unclaimed, while Hampshire and Isle of Wight have 80,595 unclaimed prizes valued at £3,501,100. These unclaimed prizes in the latter region include three £25,000 awards and one £10,000 prize.

Winners are typically notified of their prizes via email or text message if they have registered their contact details. Unclaimed prizes can occur if bondholders move or change their contact or bank details without updating NS&I. Premium Bonds allow individuals to enter a monthly prize draw for a chance to win prizes ranging from £25 to £1 million, with numbers generated by a random number generator known as Ernie. Each £1 bond has an equal chance of winning, and winners are announced at the beginning of each month, with prize money paid by the 7th.