Thanks, Ernie: how one woman’s £1,001 turned into £1 million
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One of this month’s Premium Bond millionaires overcame odds of 55.69 million to one to win the August jackpot with a holding of just £1,001.
The woman from Devon’s has one of the smallest holdings to win £1 million with only a dozen other winners out of the 464 since 1994 having lower investments. The top prize was increased that year and since 2005 there have been two £1 million prizes each month.
Her chances of winning were lower than most previous winners because 19 billion more £1 bonds have been added to the monthly draws since last August, as record-low interest rates push savers away from banks and towards the government-back National Savings & Investments (NS&I), which runs Premium Bonds.
