Premium Bonds saver wins £100,000 in December 2024 draw with £505 holding

One lucky person has scooped a £100,000 prize from Premium Bonds – despite having just £505 invested in the Government-backed savings product.

The incredible prize – which is the second-highest available through Premium Bonds – means the saver made a 19,702% return on their investment. The winner is based in Essex and won with the winning bond number 502DD870345, which was worth £100 and was purchased in June 2022.

There were 84 £100,000 prizes given out in the December 2024 Premium Bonds draw. Another lucky Premium Bond holder in Barnet won £50,000 – the third biggest prize available – with a holding of £377. Their winning bond 16VK075099 was purchased in May 1977. As normal, there were two £1million prizes handed out in December 2024.

The first winner is from Kent with the winning bond number 405PY086681. This person holds the maximum £50,000 in Premium Bonds, and their winning bond was bought in July 2020. The second person who is now £1million richer is from Cumbria. They won with the bond number 538KR930303, which they purchased in April 2023.

Premium Bonds are a type of savings product run by National Savings & Investment (NS&I) but instead of earning interest, you're entered into a monthly prize draw. The prizes start at £25 and go up to £1million – but you're not guaranteed to win a prize, so there may be some months where you don't win anything.

You get a unique bond number for every £1 invested, and you can invest from £25 up to £50,000 in total in Premium Bonds. You can cash in all or part of your Premium Bonds at any time. The odds of a bond winning each month are 22,000 to 1 for every £1 bond. NS&I reduced its prize rate from 4.40% to 4.15% from its December 2024 draw – and it will go down again to 4% from January 2025.

There will still be two jackpot prizes of £1million given away every month, along with millions of smaller prizes. The prize fund rate is often described as the the nearest thing Premium Bonds has to an interest rate – but again, your chance of return on your savings is really all down to luck.

Andrew Westhead, NS&I Retail Director, said: “Congratulations to our latest Premium Bonds millionaires from Kent and Cumbria. What a wonderful early Christmas surprise as the festive season begins. With millions of tax-free prizes won every month, Premium Bonds continue to be a popular way to save, offering the excitement of potential winnings.”

You can use the NS&I online prize checker tool, or the Premium Bonds prize checker app, to see if you've won. If you're a winner, you can have the money paid into their bank account, or reinvest it into new Premium Bonds. You should be emailed or sent a text message from NS&I if you've won.

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