Premium Bonds are a savings product by NS&I, but instead of getting interest back on your money, you are entered into a monthly prize draw
Premium Bond results for May 2026 have been announced by NS&I today – including the lucky winners of two £1million prizes.
The first £1million winner is from Suffolk and they hold the maximum £50,000 in Premium Bonds. Their winning bond number was 567VN857011 and it was purchased in January 2024.
The second £1million winner is from the Highlands and Islands region and they have £23,500 invested in Premium Bonds. Their winning bond number 643SE292364 was purchased in September 2025.
Premium Bonds are a savings product by NS&I, which is backed by the Treasury, but instead of getting interest back on your money, you are entered into a monthly prize draw.
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The smallest monthly prize is £25, and the biggest is £1million. However, winning a prize every month isn’t guaranteed – and there are more smaller prizes given out, versus the bigger sums.
There are usually thousands of £25 prizes given out and just two £1million prizes. The maximum you can have saved in Premium Bonds is £50,000 and for every £1 invested, you get a unique bond number.
New Premium Bond purchases need to be held for one full calendar month before being entered into the monthly prize draw. The odds of a bond winning each month are 23,000 to 1 for every £1 bond.
If you win a prize, you should be emailed or sent a text message from NS&I. You can then choose to have the money paid into your bank account, or reinvested into Premium Bonds. You can also use the NS&I online prize checker tool, or the Premium Bonds prize checker app, to see if you’ve won.
The prize fund rate – the nearest thing Premium Bonds has to an interest rate – is currently 3.3%.
The prize fund rate has been slowly decreasing in recent months, which means the number of some larger prizes being handed out has decreased slightly, while the number of smaller prizes being awarded has gone up.
However, there are still two £1million prizes being given out each month. More than 24 million people currently have Premium Bonds.
Laura Suter, director of personal finance at AJ Bell, previously explained: “The Premium Bond ‘prize fund rate’ is intended to give savers some comparison with how the account compares to normal savings accounts.”
But she said: “Clearly not everyone has ‘average’ luck, otherwise the prizes would be handed out equally to every saver. The fact that there are some very large prizes also skews the figures.”
