Premium Bonds winners announced for October

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.

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Andrew Westhead, retail director at NS&I, said: “Huge congratulations to this month’s millionaires from Greater Manchester and West Scotland. We hope the jackpot is a nice treat for them in time for autumn.

“Premium Bonds aren’t just about winning the jackpot – this month we paid over five million prizes worth more than £470million, including 90 people winning £100,000. Congratulations to all our winners.”

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.

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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.

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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.

For the latest personal finance news, follow us on Twitter at @ExpressMoney_.

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