Each £1 Premium Bond has an equal chance of winning a prize
Millions of prizes have been paid out in the February Premium Bonds draw(Image: Getty)
Premium Bond holders have been urged to check their numbers as the big prize winners have been announced for the February draw. The prize draw takes place at the start of each month, with each £1 Bond that goes into the draw having an equal chance of being paired with a prize.
The prize fund rate is currently 3.6 percent with each £1 Bond having a 22,000 to one chance of being paired with a prize. Prizes range from just £25 up to £1million. There are always two £1million prizes in each prize draw, along with a number of big prizes for amounts such as £100,000, £50,000 and £10,000.
One of the £1million prizes went out to saver from the Liverpool region, with winning Bond 40QJ919368. They purchased their lucky Bond more than 20 years ago in October 2004, when they bought £2,000 in Bonds. They held the maximum total amount of Bonds you can hold going into the February draw, of £50,000.
The other £1million jackpot was won by a person from Central Bedfordshire, with lucky Bond 489TB013219. They bought their Bond much more recently, in February 2022, when they invested in £17,500 in Bonds. They also had the maximum holding amount of £50,000.
A number of longtime customers won prizes in the February draw. The oldest Bond to be paired with one of the large prizes was TS968214, which belongs to a saver from the Devon area. They purchased their Bond back in July 1973, when they bought £90 in Bonds.
Two other Bonds purchased more than 50 years ago in the 70s were paired with a prize. A person from Plymouth with Bond 2NN092213, which they bought in October 1975, won a £5,000 prize.
Another top prize winner from South East Wales pocketed a £5,000 prize, for a Bond they purchased in April 1977, when they bought £25 in Bonds. They held a total of just £86 going into the February draw.
Changes to Premium Bonds
NS&I reduced the prize fund rate for Premium Bonds several times last year. This means less cash is paid out relative to the total amount of Bonds that go into the draw. So although the chances of winning a prize stay the same – the odds of winning have been 22,000 to one since December 2024 – your chances of a big prize win are reduced.
The prize fund rate was last reduced in August 2025, following reductions in April 2025 and in January 2025. The rate fell from 4.15 percent to 4 percent in January, down from 4 percent to 3.8 percent in April and down from 3.8 percent to the current 3.6 percent in August.
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