The prize fund rate for Premium Bonds changed several times last year
NS&I has issued an update for anyone with Premium Bonds. The provider has urged bond holders to check over their accounts going into the new year. The scheme can be an exciting way to build your savings, as each £1 bond goes into a monthly prize draw with an equal chance of winning a prize.
Prizes range from £25 up to the £1 million jackpot, with the odds of each £1 bond winning currently at 22,000 to one. The prize fund rate for premium bonds is currently 3.6 percent. NS&I was asked what customers should do as we move into 2026.
An NS&I spokesperson said: “The new year is a great time to do some financial housekeeping including checking that NS&I has up to date contact and bank details for you. This can be easily done online – including registering if you have not already done so.”
Millions of prizes to collect
The provider also said now is a good time to check if you have any unclaimed prizes to collect. NS&I figures published in October 2025 showed there were 2.6 million prizes yet to be collected, with almost £110 million up for grabs.
NS&I told customers: “You can also use the NS&I app to check balances for all your accounts plus your Premium Bonds prizes for the past six months. For customers who haven’t already registered for our online and app services you will need your NS&I or Premium Bonds numbers along with your name and address.
“For anyone who has already registered, you will need to know your password and NS&I number for web access. For app access you can use biometrics or your password to log in.” You can check for any unclaimed prizes using the prize checker tool on the NS&I website.
Guidance on the NS&I website explains: “The quickest way to find out if you’ve won a prize is to use our prize checker. It’ll show you any prizes you’ve won this month, anything you’ve won in the previous six draws, as well as any older prizes that you haven’t claimed yet.
“We update our prize checker on the day after the first working day of each month. To use the prize checker on our website, all you’ll need is your holder’s number, which you can find on your Bond record or by logging in to your account. It has either 9 or 10 digits, or 8 digits followed by a letter.”
Another thing to consider is you can set up your account so any prizes you win are automatically used to buy more Bonds. These Bonds are eligible to go into the next month’s draw, whereas if you purchase Bonds otherwise, you have to hold them for a full calendar month before they qualify for the draw.
Changes to the prize fund rate
The prize fund rate for Premium Bonds has fallen several times over the past year of 2025. The rate was at four percent in January, having fallen that month from the previous 4.15 percent.
The rate also dropped in April and August, down to 3.8 percent and 3.6 percent respectively.
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