Premium Bonds saver scoops £50,000 prize with just £22 of bonds

01 Nov 2024, 12:47 by Helen Kirrane · Mail Online

A Premium Bonds holder has defied the odds by snagging £50,000, the third biggest prize on offer in the monthly prize draw, with a holding of just £22.

The winner bought their winning bond 54 years ago in February 1970, showing that good things often do come to those who wait.

This lucky winner, based in Humberside, has made a 227,173 per cent return on their initial investment, albeit it took over half a century to do so.

Against all odds: A Premium Bonds saver bagged a £50,000 prize with a holding of just £22, which dates back to a time when Premium Bonds could be bought in £1 increments

Previously we revealed that the odds of winning at least £50,000 prize with a £50 holding are 9.5million to 1.

So winner of the November 2024 draw had even longer odds of winning a £50,000 prize.

Other stand-out winners from this month's draw include two Premium Bonds holders who managed to scoop £100,000 prizes with holdings of £1,000 - meaning a 900 per cent return on their investment.

One of these winners, from Suffolk, won £100,000 from a bond they purchased in June 1998, more than 26 years ago.

The other winner, based in Barnet, bought their winning bond in April 2014.

The two £1million jackpot winners this month are based in Warwickshire and Cornwall.

The Cornwall-based winner had a holding of £38,000 and purchased their winning bond just 10 months ago, in January 2024.

The winner from Warwickshire snagged the other coveted £1million prize with the maximum holding of £50,000 from a bond bought in November 2016.

In the November prize draw, a total of 6 million prizes worth £464million will be paid out. There were 126.5 billion Bond numbers eligible for the draw.

From next month, the Premium Bonds prize fund pool will be cut from its current level of 4.4 per cent to 4.15 per cent.

This means that the odds of winning a prize will become longer at 22,000 to 1.

The number of £1million jackpots remain the same, with two each month.

But there will be fewer bigger prizes of £100,000 and £50,000 in December.

NS&I says there will be 83 £100,000 prizes, six fewer than the most recent draw, and 167 £50,000 prizes, 10 fewer.

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