NS&I has announced the winners for the Premium Bonds prize draw for October including two £1million jackpot prizes.
The £1million prize was for winning Bond 284MT463803, which belongs to a person from Greater Manchester, as part of Bonds they purchased for £5,000 in October 2016.
The other jackpot winner is from West Scotland with winning Bond 159TJ094783, which was also part of £5,000 in Bonds, which they bought in September 2009.
There were many winners of a £100,000 prize, including a person from Suffolk who won after purchasing just £25 in Bonds in December 2022.
One person from Outer London won £100,000 for a winning Bond they purchased as part of just £100 in Bonds which they bought in October 2018, as well as a person from Devon who previously had just £200 in Bonds.
Another winner from Hampshire And Isle Of Wight took home £100,000 for a winning Bond they purchased just three months ago in July 2023.
In contrast, one lucky person from Havering won £100,000 after they bought £5,000 in Bonds almost 30 years ago, in October 1994.
Another longtime saver with the group won £100,000 for a winning Bond they purchased in 1987 – their £100 investment back then would cost around £275 in today’s money.
Each £1 Bond has an equal chance of winning but a person can increase their chances of winning by buying more Bonds, up to the £50,000 limit.
The odds of winning increased from the September prize draw, from four percent to 4.65 percent.
This means the odds of a Bond winning have increased from 21,000 to one which is their highest level since the April 2008 prize draw.
Winners are chosen at random so savers should note there is no guarantee they will ever win a prize.
Premium Bonds do not get an interest rate so if a person does not win any prizes over time their investment will effectively drop in value because of inflation.
Prizes range from the £1million jackpot to £25. People often choose to use their winnings to buy more Bonds to increase their chances of winning in future.
