NS&I creates another millionaire

Monday, 01 February 2010 12:00

National Savings & Investments (NS&I) has announced the latest person to become a millionaire after scooping the jackpot in premium bonds draw.

A woman living in outer London who had total holdings worth £29,000 was February's winner, NS&I revealed.

She was not the only one to pick up tax-free cash prizes in the draw. Over 1.6 million prizes, amounting to more than £50.8 million, were paid out this month.

Although only one person can win the jackpot each month, there are four prizes worth £100,000 up for grabs, eight worth £50,000 and 42 worth £10,000 among many others.

The chances of winning a prize became higher in October 2009 when NS&I increased the fund rate.

A spokesperson for NS&I said: "The number of prizes a Premium Bond holder with the maximum amount invested (£30,000) could win each year, with average luck, increased from 10 to 15 with the changed odds."

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