Premium Bonds savers can win big prizes such as £100,000 and £50,000
Premium Bonds holders are being encouraged to carry out a quick check. NS&I is paying out millions of prizes as the first prize draw of the year has taken place. The Premium Bonds prize draw happens at the beginning of every month, with each £1 Bond having an equal chance of being selected for a prize.
Huge cash rewards are up for grabs, including sums such as £100,000 or £50,000, and there’s even the possibility of landing a £1million jackpot prize. Each monthly draw always has two £1million prizes.
This month’s jackpot winners hailed from Suffolk and Berkshire. With the year’s inaugural winners now confirmed, NS&I is urging customers to check whether they have any winnings coming their way.
‘Quick and easy’ check
Andrew Westhead, NS&I retail director, called on savers to take action. He said: “This month, ERNIE [Electronic Random Number Indicator Equipment] drew more than six million tax-free prizes worth over £406million, bringing a happy new year to savers across the country.
“Premium Bonds holders can check if they’ve won a prize from Saturday, 3 January, on our quick and easy NS&I prize checker app.” The free app can be downloaded from the Apple App Store or Google Play.
According to guidance on the NS&I website, the app allows you to “instantly” check if you’ve won a prize. With this handy tool, you can use either your NS&I number or your holder’s number to check for any prizes from both the latest draw and the previous six draws.
Alternatively, you can check online for any winnings using the prize checker too l on the NS&I website. The provider updates its prize checker the day after the first working day of each month, revealing the latest lucky winners.
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Who won the £1million prizes in the January 2026 Premium Bonds draw?
In the January 2026 draw, the first £1million prize was scooped up by a saver from Suffolk. Their winning Bond 570QM451332 was purchased in February 2024 when they bought £10,000 worth of Bonds. They held the maximum £50,000 in Bonds going into the January draw.
A saver from Berkshire bagged the other £1million prize. Their winning Bond was number 377PG290829, which they acquired in December 2019, when they bought £10,000 in Bonds. They also previously held the maximum £50,000 in Bonds.
Recent changes to Premium Bonds rules
There have been changes to Premium Bonds as many savings providers have been trimming their rates in recent months due to the falling base rate set by the Bank of England. Last year, NS&I made several cuts to the prize fund rate for Premium Bonds.
The rate took a tumble from the January 2025 draw, dropping from 4.15 percent to 4 percent. NS&I then further slashed 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.
The rate hit its high point of 4.65 percent back in September 2023. As it stands, the odds for each £1 Bond to win are a steep 22,000 to one.
To boost your chances of bagging a prize, you could consider buying more Bonds, which would give you more entries into each month’s draw. Many savers have their accounts set up so that any winnings are automatically used to purchase additional Bonds.
For more money-saving tips, shopping hacks, and consumer news, head over to the new Everything Money website.
