In September 2025, the winners of Premium Bonds were announced, with two individuals each claiming a £1 million prize. The first lucky winner resides in County Durham and holds the maximum amount of £50,000 in Premium Bonds, with the winning bond number being 224BZ748917 acquired in June 2014. The second £1 million winner lives in Nottingham, also owning £50,000 in Premium Bonds, with the winning bond number 243VC581367 purchased in April 2015.
Premium Bonds, a savings product offered by National Savings & Investment (NS&I), operates by entering participants into a monthly prize draw instead of providing interest on savings. Prizes range from £25 to £1 million, with participants receiving a unique bond number for every £1 invested, and the maximum limit for savings in Premium Bonds capped at £50,000.
The odds of winning a prize each month stand at 22,000 to 1 for every £1 bond, with the current prize fund rate equivalent to an interest rate of 3.60%. Approximately 22.7 million individuals hold Premium Bonds, and winners are notified via email or text message by NS&I to claim their prize, which can be deposited into their bank account or reinvested in Premium Bonds.
To check if you are a winner, you can utilize the NS&I online prize checker tool or the Premium Bonds prize checker app. The prize fund rate has slightly decreased recently, leading to a reduction in the number of larger prizes while increasing the number of smaller prizes awarded. Despite this, two £1 million prizes are still distributed each month, with the most recent rate adjustment occurring in the August 2025 draw, lowering it to 3.60%.
Andrew Westhead, NS&I Retail Director, commented, “This adjustment to the Premium Bonds prize fund rate – the first in four months – reflects the changing landscape for savings. Premium Bonds continue to offer complete security backed by HM Treasury, ease of withdrawal, and the thrill of potentially winning a tax-free prize monthly.”