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Suffolk: Man kicks off 2014 by becoming a millionaire overnight

PUBLISHED: 09:43 03 January 2014 | UPDATED: 10:50 03 January 2014

Man from Suffolk wins £1 million prize

Man from Suffolk wins £1 million prize

Archant Norfolk Photographic © 2008

A man from Suffolk has got off to a good start in 2014 by becoming a millionaire overnight.

National Savings and Investments have announced that the Premium Bond holder has become the latest person to win the top prize of £1 million.

The man, who has holdings worth £30,000, won the top prize after his bond number was selected by NS&I’s random generator. The winning bond was bought in April 2012.

Over 8,300 Premium Bond prizes worth more than £360,000 remain unclaimed in Suffolk – including a £1,000 prize won by a woman from the county in May 1986.

The oldest unclaimed prize in Suffolk dates back to May 1967 and is worth £25.

Across the UK there are over 974,000 unclaimed Premium Bonds prizes worth more than £45 million.

Unclaimed prizes stretch right back to the first anniversary of the original draw. A man from South Yorkshire is yet to claim his £25 prize from November 1957. There is no time limit for claiming prizes.

The largest individual unclaimed prize is worth £100,000.

NS&I say they have paid out more than 286 million tax-free prizes worth approximately £14.9 billion since the first draw in 1957.

Premium Bonds are an investment where, instead of interest payments, investors have the chance to win tax-free prizes. They were officially launched by Harold Macmillan, Chancellor of the Exchequer, in his 1956 Budget.

2 comments

  • how hard do they try to find the winners .a small holder of bonds do not stand much chance against 30,000 pounds worth.

    Report this comment

    TERENCE MANNING

    Friday, January 3, 2014

  • "Premium Bonds are an investment". Really? No capital appreciation, no interest, no dividends. Just the slim chance of being lucky. And in the meantime the capital is eroded by inflation. So if I 'invest' £20,000 and it is worth £18,000 eventually after adjustment for inflation and I won £1000 in prizes, I have £19,000 in spending terms .... so was that an investment or a gamble?

    Report this comment

    Johnthebap

    Friday, January 3, 2014

The views expressed in the above comments do not necessarily reflect the views of this site

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