NS&I alert to anyone who has £5 or more worth of Premium Bonds
A National Savings and Investments alert has been issued to anybody who has £5 or more in Premium Bonds. Premium Bonds players have been handed some fresh hope this week after a saver with just £5 in Bonds they held for 40 years won an eye-watering £10,000.
Each £1 Bond has an equal chance of winning a prize in the monthly draw, meaning even those with low holdings could win some cash. One saver from Norwich took home £10,000 after holding just £5 in Bonds, which they purchased over 40 years ago in August 1980. Their winning Bond was number 7ET566017.
Another longtime saver with low holdings from the Wirral took home a big prize. They previously had £25 in Bonds which they bought in May 1984 and won £5,000 with winning Bond 12LB724884. One lucky £100,000 winner previously had just £275 in Bonds - they purchased their winning Bond five years ago in January 2019.
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Helen Morrissey, head of retirement analysis at Hargreaves Lansdown, said: "Anyone considering Premium Bonds needs to understand the price they pay. In an average month, a typical bond holder will win nothing, and you are potentially missing out on more interest by placing your savings elsewhere.
"With inflation still running hot, you also need to be aware that the spending power of your savings is being eroded more quickly than if you had opted for a product paying a better interest rate. However, the chance to win big is a powerful incentive."
Premium Bonds are a savings product by NS&I but instead of getting interest on your money, you're entered into a monthly prize draw. This means your chance of getting any money back is completely down to chance - and you may not win anything at all. You get a unique bond number for every £1 invested and each month, you can win between £25 and £1million tax free.
Other savers who had low holdings but took home a big prize include a saver from North East Scotland who had just £300 in Bonds and who won £50,000. Another £50,000 winner from Lincolnshire previously had just £500 in Bonds, which they purchased just months ago in January 2024.