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Premium Bonds newbie scoops July’s £1m jackpot

Paloma Kubiak
Written By:
Paloma Kubiak

Two lucky Premium Bonds holders have scooped the life-changing £1m jackpot in July’s draw, with one only buying the winning ticket last year.

The first winning bond number is 493HK711899 and is held by an individual based in Staffordshire. They hold £48,750 in Premium Bonds and bought their winning bond in March 2022.

This win makes them the fifth millionaire from Staffordshire.

The second Premium Bonds millionaire lives in Norfolk and saw 246DR645231 selected by ERNIE – the Electronic Random Number Indicator Equipment.

They hold £20,000 altogether and bought the winning bond in May 2015. They are just the second millionaire winner from Norfolk.

Two rounds of Premium Bond rate rises

The latest wins come after NS&I increased the Premium Bonds prize fund rate from 3.3% to 3.7% – the highest rate in 15 years – adding £39m to the winnings available to holders.

Last week, NS&I announced a further rise to the Premium Bonds prize fund rate for the August 2023 draw. This takes the rate to a 16-year high of 4% and improves the odds of winning from 24,000 to one to 22,000 to one.

It came just after industry experts suggested NS&I may need to curb or stop any further increases after overshooting its funding target.

In the July 2023 prize draw, just over five million prizes worth £374.5m will be paid out. There were 121.4 billion bond numbers eligible for the draw. Since the first draw in June 1957, ERNIE has drawn 631 million prizes with a total value of £26.4bn.

Sally Swait, NS&I retail assistant director, said: “Congratulations to our two millionaires from Staffordshire and Norfolk – £1 million is a life-changing amount of money and we hope our jackpot winners each enjoy their winnings.

“This is the highest rate the prize fund has been in over 15 years, meaning this month we paid out a total of 5 million prizes worth over £374 million. The Premium Bonds prize fund is going up again for the August draw too, with the odds improving as well, meaning more wins and more excitement each month for savers up and down the country.”