A Hamilton man who nabbed $1 million through Bonus Bonds is not only going to buy himself a new home, but also give his kids a hand.

The man, who lives rurally, has lived in the same house for 25 years and is keen to upgrade.

"I raised my family in this house, and now I'm thinking of selling it, my kids all want to buy it."

The winner says he also plans to help his kids get into their first homes.

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"My kids are currently spending so much money on rent, so I'd like to be able to support them and get them in to their own places."

However, the shock of the big win is still setting in.

"I immediately rang my daughter after hearing the incredible news, but she didn't believe me, she said, 'Dad they're pulling your leg.'"

The winner received his first Bonus Bond 15 years ago as a Christmas gift at his former workplace and continued to buy them after that.

"I've given each of my kids a portion of the winnings, and bought my son some new tyres. The win has meant I can pay off some bills so I'm all squared up," he said.

To date, the youngest bondholder to win $1 million was just three years old, and the oldest was 92.

Instead of earning interest or receiving investment gains, a $1 million grand prize is paid to one winning bondholder each month along with one prize of $100,000, one prize of $50,000 plus multiple prizes of $5,000, $500, $100, $50 and $20.