The luckiest Premium Bond holder has won over £1m across nearly 300 prizes, a Freedom of Information request has shown.
Every month Premium Bond holders are entered into a draw where they can win prizes ranging from £25 to £1m.
This lucky bond holder has won a total of £1,019,850 across 288 prizes and purchased their first bond in May 2002, the Daily Mail revealed.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The winner has taken home the top £1m prize, as well as one £10,000 prize, one £1,000 prize, eight £100 prizes, 45 £50 prizes and 232 prizes worth £25.
Another bondholder holds the record for more wins, scoring 408 prizes. But they have only taken home £14,325 as their prizes were mostly made up of £25 wiNS.
Indeed, they’ve taken home 315 prizes worth £25, 18 prizes worth £100, 75 prizes worth £50 and two £500 prizes.
Are Premium Bonds worth it?
Premium Bonds are an extremely popular savings product – but they don’t necessarily offer the best rates.
To attract more savers NS&I has hiked its Premium Bond prize fund rate five times in one year, taking it to 3.3%.
That means there’s an extra £15m in prizes to be won each month, increasing the number of prizes worth £50 to £100,000.
NS&I also recently brought back its one-year fixed bonds and boosted the rates on its products to their highest levels in a decade.
What’s more, the government-backed bank could boost its rates further in the coming months after Jeremy Hunt set a new, higher fundraising target for NS&I in his Spring Budget.
But currently, there are better rates on offer. The best savings accounts offer returns of up to 7%.
Meanwhile, the best one-year fixed bonds offer interest rates of over 4% and easy access accounts are paying over 5%.
Providers have gotten more competitive as the Bank of England hikes rates. But savers looking to secure the best deals will have to act fast, as the best deals don’t stick around for long.
-
Key takeaways from the 2025 German election resultsFriedrich Merz heralds a new era for Germany, after the German elections revealed a majority of young voters are leaning towards the far-right
-
UK smaller companies labelled the “most unloved stocks in the world” – should you invest?UK small caps could offer enticing opportunities for contrarian investors looking to bag a valuation discount. Should you invest?
-
Most Premium Bond holders never win – are they worth it?Premium Bonds There are over 20 million Premium Bond holders but most of us have never won a prize.
-
One-year fixed savings drop below 6% - have they reached their peak?The best one-year fixed-rate savings deals have fallen below the 6% mark. Find out if saving rates have reached their peak and the current top rates on the market.
-
NS&I cuts interest rate on Green Savings Bonds - where can you get a better deal?News The state-backed bank has slashed the interest rate on its Green Savings Bonds from 5.7% to 3.95%
-
Charles Stanley Direct launches cash savings - is it any good?Charles Stanley Direct has launched a savings platform to give savers access to the best deals on the market. We look at how it compares to other services.
-
Is NS&I safe?National Savings and Investments (NS&I) is popular for its Premium Bonds and savings products. But how safe is it?
-
Act fast: HSBC to pull its 5.7% one-year bondSavers have until Wednesday to apply for HSBC’s one-year fixed-rate bond. The withdrawal of the account follows NS&I’s decision to pull its market-leading one-year bonds earlier this month. We explain why you need to act fast to secure the best rates.
-
NS&I withdraws market-leading 6.2% one year fixed bond - what are the alternatives?National Savings & Investments (NS&I) has now dropped its one year fixed bond paying a table topping 6.2% interest rate a month after launch. Here’s where to find the next best alternative for one year fixed savings
-
How do NS&I savings account rates compare? Advantages of using government-backed bankAdvice NS&I savings accounts offer security and tax-efficient options for your money. But how do its interest rates compare to the rest of the market?
