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May Premium Bonds: could you be a millionaire?

Written by: Paloma Kubiak
It’s lady luck for May as a woman from Wiltshire and one from Barnet have each scooped the £1m Premium Bond jackpot.

The lucky Premium Bond holders become the 385th and 386th recipients of the top prize.

Premium Bonds offered by the government-backed National Savings & Investments (NS&I), are the UK’s most popular savings product. Each £1 bond is entered into a monthly draw, with two lucky bondholders bagging £1m each.

However, there are a host of other prizes too, ranging in size from £25 to £100,000. In total for the May draw, more than three million prizes will be paid out, worth nearly 87m. See YourMoney’s Premium Bond guide for more information.

Are you a Premium Bond winner?

The woman from Wiltshire has £50,000 invested in Premium Bonds, after topping up her original investment of £1,100 in March 2016. The winning bond number is 269AV661906.

This is the third time in 2018 that a resident of Wiltshire has scooped the jackpot, and it is now the eighth time since the top prize was introduced in 1994.

For the woman in Barnet, this is the first time a resident has scooped the big prize in around eight years.

The holder has £20,000 invested in Premium Bonds after originally holding £1,000, she invested a lump sum of £19,000 into the account in February 2011. The winning bond number is 177KW885582.

The winnings are free of income tax and capital gains tax.

Jill Waters, NS&I’s retail director, said: “Both winners this month had around £1,000 in Premium Bonds before investing the lump sums that have won them each £1m, however Barnet’s winner did not need to invest to the full £50,000 to hit the jackpot.

“While investing to the maximum increases your chances of winning, Barnet’s winner shows that you don’t need the maximum invested in Premium Bonds in order to strike lucky.

“Since the maximum investment limit was increased to £50,000 in August 2015, only ten of a possible 68 jackpot winners have had the full £50,000 invested in Premium Bonds. The average amount invested for winning the £1 million prize since August 2015 is just over £28,000.”

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