Can ERNIE make you a millionaire?

Premium Bonds keep your money secure and may make you a millionaire. Richard T Lishman explains

This morning I was excited to be greeted by the postman with another winning cheque and even though it was only £50, it was better than nothing!

This morning I was excited to be greeted by the postman with another winning cheque and even though it was only £50, it was better than nothing!

National Savings and Investments (NS&I) offers a range of savings and investments to suit different people's needs, and because NS&I is backed by HM Treasury, you can rest assured that any money you invest is 100% secure! Let's look at one of the investments available – Premium Bonds.

It remains a mystery who actually came up with the acronym 'ERNIE' to mean Electronic Random Number Indicator Equipment, but 'he' is central to the whole concept of Premium Bonds by producing all the winning numbers.

Since 1957, the four generations of ERNIE have produced the numbers for over 110 million tax-free prizes worth over £7 billion.

In the UK, 23 million people place their trust in the integrity of ERNIE to produce Premium Bond numbers randomly. Around £26 billion is invested in Premium Bonds.

Premium Bonds are becoming more and more popular. In the last 10 years there has been a seven-fold increase in the number of Bonds in the draw.

So why invest in Premium Bonds?

  • Tax-free wins – you don't need to declare wins to Her Majesty's Revenue and Customs (HMRC)

  • Invest up to £30,000

  • Potential to win up to £1 million

  • Invest for a child or grandchild

  • Automatically re-invest for future prizes, subject to the £30,000 limit.

There are two chances to win £1 million each month, plus over a million other tax-free prizes. If you want the excitement of perhaps becoming a millionaire overnight, but without the capital risk associated with gambling on black or red, this could be just the ticket!

The minimum purchase is £100, so you don't need to pay out a fortune to be in with a chance of winning one! Also there is no set term, so if you need to cash in your bonds, that's no problem. Just remember, you have to be in it to win it!

A final note

The above figures are for illustrative purposes only and may vary considerably from reality and should not be relied upon as an accurate reflection of future returns. As with all investments, the value can go up or down and there is no guarantee of future returns.

Richard T Lishman is the principal of money4dentists, a specialist firm of Independent Financial Advisers who help dentists across the UK manage their money and achieve their financial and lifestyle goals.

Recent Posts

 Telephone: 0845 345 5060 or 0754 3368478


Email: or use the online form.​ 


4dentists group 
51-52 Calthorpe Road
Edgbaston, Birmingham
West Midlands
B15 1TH


  • Facebook - White Circle
  • RSS - White Circle
  • Twitter - White Circle

Copyright © money4dentists All rights reserved.

4dentistsgroup, 51-52 Calthorpe Road, Edgbaston, Birmingham, B15 1TH.
Registered in England and Wales, No. 8095412