Need to know
The Premium Bonds prize draw takes place at the start of each month, with every £1 Bond having an equal shot at winning
Premium Bonds holders are being urged to do a swift check as NS&I is set to distribute millions of prizes following the first prize draw of the year. The Premium Bonds prize draw takes place at the start of each month, with every £1 Bond having an equal shot at winning. Here are the key details.
- There are substantial cash prizes up for grabs, including amounts such as £100,000 or £50,000, and even the chance to scoop a £1million jackpot prize. Each monthly draw always includes two £1million prizes.
- This month’s lucky winners hail from Suffolk and Berkshire. Now that the first winners of the year have been announced, NSandI is encouraging customers to check if they’ve won any prizes.
- Premium Bonds holders can check if they’ve won a prize from Saturday, 3 January. Alternatively, you can verify any winnings using the prize checker on the NS&I website.
- There have been modifications to Premium Bonds as numerous savings providers have been reducing their rates in recent months due to the declining base rate set by the Bank of England. Last year, NS&I implemented several reductions to the prize fund rate for Premium Bonds.
- The rate took a nosedive from the January 2025 draw, falling from 4.15 percent to 4 percent. NSandI then further cut the rate from 4 percent to 3.8 percent in April and again from 3.8 percent down to the current 3.6 percent in August. It peaked at 4.65 percent back in September 2023.
- To increase your odds of winning, you might want to consider purchasing more Bonds. This would give you a greater number of entries into each monthly draw.