"I'd never seen money like that before in my life," she said.
She said her only big purchase would be taking her train-obsessed husband to Australia to ride heritage trains.
She also planned to reinvest some winnings back into the scheme, which doles out prizes between $5 and $1m to bondholders each month instead of interest or investment gains.
"We live in a retirement village so it's different than if we had our own place which we could do up. We have a good life here, so there's no need to spend it at the moment," said the winner.
She said she bought her bonds 16 years ago with the little bit of money her mother left when she died.
"If it weren't for her I wouldn't have won the grand prize."
She had previously won $5000.
"I thought, 'alright that's my big win' and never thought I'd receive a prize larger. Wasn't I wrong?"