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Bonus Bond millionaire

Wednesday 9th May 2007

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A revamp of the 37-year old Bonus Bonds tradition has seen the top monthly prize increase this month from $300,000 to $1 million.

"We asked our Bondholders and the general public what they wanted from Bonus Bonds, and the clear message was that most prefer a top prize of $1 million, as well as the many other smaller prizes," Head of Bonus Bonds, Mark Pickering says.

Nearly a quarter of New Zealanders own Bonus Bonds. The last time the top prize was increased was in 1996 when it went to $300,000.

Statistically the chance for a Bondholder to win a cash prize in each monthly draw is between 1 in 9,600 and 1 in 11,000.

Bonus Bonds will present a $1 million prize to one winning Bondholder every month as part of a total tax-paid monthly prize pool of over $6 million - made up of more than 200,000 individual cash prizes.

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