In the latest announcement for January 2026, two fortunate individuals have each won £1 million through Premium Bonds. One winner resides in Suffolk and holds the maximum investment of £50,000 in Premium Bonds, with a winning bond number of 570QM451332 purchased in February 2024. The second winner, from Berkshire, also holds £50,000 in Premium Bonds, with the winning bond number 377PG290829 acquired in December 2019.
Premium Bonds, offered by National Savings & Investment (NS&I), function as a unique savings product where participants are entered into a monthly prize draw instead of receiving a fixed interest rate on their investment. The prize range varies from £25 to £1 million, with higher chances of winning smaller prizes compared to the larger sums.
Each £1 invested in Premium Bonds corresponds to a distinct bond number with odds of winning set at 22,000 to 1 for each £1 bond. Winners are notified by email or text message by NS&I, allowing them to choose between receiving the prize in their bank account or reinvesting it in Premium Bonds. There is also an online prize checker tool available for verification.
The current prize fund rate, equivalent to an interest rate for Premium Bonds, stands at 3.60% since the August 2025 draw. Despite a slight decline in the prize fund rate recently, the scheme still distributes two £1 million prizes monthly among its over 24 million participants.
Recent data disclosed that Hampshire and the Isle of Wight were the luckiest locations for winning Premium Bond prizes in 2025. Essex and Outer London followed suit with significant prize wins. The £1 million jackpot was claimed twice in Norwich and Cumbria in the same year.