500th Senior Bond Millionaire Wins Grand Prize With £3,000 Holdings

The five hundredth senior bondholder to win the £1 million jackpot has been revealed, having finished so with one of many smallest holdings ever.

The award went to a winner in Sheffield who purchased £3,000 value of high-quality bonds in February 2008.

It was the bottom worth stake to win £1m since August 2021, when a winner in Devon gained the jackpot for £1,001.

For the reason that £1m jackpot was first launched in 1994, 500 senior bondholders at the moment are millionaires due to a landmark attract February

General, this month’s winner takes residence the jackpot and ranks thirty fourth out of all 500 Senior Bond Millionaires For the reason that award was established in 1994.

In July 2004, these with the bottom holdings gained a senior bond of simply £17 to their title.

>> View the full list of Senior Bond winners

The premium bond bonus fund charge was at 3.15% in February – the best stage in 14 years after NS&I raises interest rates twice in a row.

This month’s draw will award virtually 5 million prizes value virtually £314 million, that means an additional £15 million in tax-free prizes will likely be paid out in comparison with final month.

It was additionally introduced this month that the 499th jackpot winner is a person residing in Sefton, Merseyside, who holds the £30,000 prize. They purchased the successful bonds in Might 2006.

NS&I retail director Jill Waters stated: “February 2023 will likely be a memorable month for senior bonds.

“Not solely are prize charges at their highest stage in 14 years, however due to in the present day’s landmark draw, we have now created a staggering 500 senior bond millionaires since 1994.

“What a narrative for the five hundredth £1million winner – the Sheffield shopper held £3,000 in senior bonds, the bottom worth since launch to win the coveted jackpot One of many holdings.

“The funding they made 15 years in the past has paid off for them and our Sefton winners purchased their successful Bond virtually 17 years in the past.”

Are Premium Bonds Higher than Normal Financial savings?

Premium Bonds are probably the most well-liked financial savings merchandise within the US and will show to be the best residence for folks to begin saving habits, with a minimal funding of simply £25 to get began.

It can be an excellent residence for one to avoid wasting for a wet day. Withdrawals from Premium Bonds take two enterprise days, that means it may be thought-about an easy-access account – though barely slower than normal instant-access financial savings transactions.

The chances of successful on every £1 bond will stay at 24,000 to 1, with latest modifications that means the variety of prizes value £50 to £100,000 will now enhance.

The Premium Bonds bonus fund charge of three.15% compares favorably with different simply accessible offers in the marketplace. There’s just one easy-to-get deal providing a better charge proper now.

– Check out the most convenient savings rates here.

Nevertheless, the three.15% bonus charge is a median charge of return and savers could do higher or worse than this.

Final week, That is Cash editor Simon Lambert requested if Senior bonds are the best place to save with ease right now.

“Senior bonds outperform the most effective no-strings-attached bonds,” he stated. Easy Access to Savings Transactions And throughout the topmost whiskers.

‘Will you get a median charge of return? After all, it is determined by luck, in fortunate years you would do significantly better than the quoted 3.15%, and in unfortunate years you would do a lot worse.

“Nevertheless, there may be one caveat right here, which requires a faculty math assessment: the senior bond bonus fund charge is a median, reflecting the ratio of the entire bonus paid to every particular person to the quantity held by all bonds.

‘The issue with this one, as with all common, is that it may be distorted by huge and small numbers at both finish, or something that is uneven.

“A fairer manner of stating the speed of return is to provide the median, which is the center place of all holders, and a pair of £1 million jackpots, plus 59 x £100,000 bonuses and 117 x £50,000 bonuses , that means that the median have to be decrease than the imply.

“The possibilities of successful the lottery on any £1 bond are 1 in 24,000 and the extra senior bonds you maintain, the higher your possibilities of successful.”