In the latest update for January 2026, two individuals have struck it rich, each winning £1 million through Premium Bonds. The first winner, residing in Suffolk, holds the maximum £50,000 in Premium Bonds, with the winning bond number 570QM451332 purchased in February 2024. The second lucky winner is from Berkshire, also holding £50,000 in Premium Bonds, with the winning bond number 377PG290829 acquired in December 2019.
Premium Bonds, a savings product by National Savings & Investment (NS&I), offers a unique twist by entering participants into a monthly prize draw instead of providing a fixed interest rate on investments.
Premium Bond prizes range from £25 to £1 million, with a higher frequency of smaller prizes compared to the larger sums. While thousands of £25 prizes are typically awarded, only two £1 million prizes are up for grabs each month. Participants can invest up to £50,000 in Premium Bonds, receiving a distinct bond number for every £1 invested.
The odds of winning a prize each month stand at 22,000 to 1 for every £1 bond held. Winners are notified via email or text message by NS&I, and can opt to have their winnings deposited directly into their bank account or reinvested into Premium Bonds. To check for winnings, individuals can utilize the NS&I online prize checker or the Premium Bonds prize checker app.
As of the August 2025 draw, the prize fund rate for Premium Bonds has been steady at 3.60%. While the rate has slightly decreased in recent months, leading to a reduction in larger prizes and an increase in smaller prizes, two £1 million prizes continue to be awarded monthly. Currently, over 24 million people are active Premium Bonds holders.
In a recent data release shared with This is Money, the luckiest regions for Premium Bond wins in 2025 were revealed. Hampshire and the Isle of Wight boasted 42 winners of £100,000 prizes, making it the second luckiest area. Essex followed with 37 £100,000 prize winners, and Outer London had 32 recipients of the same prize. Notably, Norwich and Cumbria each secured the £1 million jackpot twice in 2025.