In the latest release for November 2025, the winners of two £1 million prizes in Premium Bonds were revealed. One lucky winner, holding the maximum £50,000 in Premium Bonds, hails from Shropshire with the winning bond number 258GE105589 purchased in October 2015. The second £1 million winner, also with £50,000 in Premium Bonds, resides in York and bought the winning bond number 568FY679677 in February 2024.
Premium Bonds, a savings product offered by National Savings & Investment (NS&I), differ from traditional interest-bearing accounts by entering participants into monthly prize draws. While the monthly prizes range from £25 to £1 million, winning is not guaranteed, with a higher likelihood of winning smaller amounts compared to the grand prizes.
The maximum limit for savings in Premium Bonds is £50,000, with each £1 investment generating a unique bond number. The odds of winning a prize each month stand at 22,000 to 1 for every £1 bond. Andrew Westhead, NS&I Retail Director, congratulated the two jackpot winners, emphasizing their significant windfall ahead of the festive season.
Winners are notified via email or text message by NS&I regarding their prizes, which can be deposited into their bank accounts or reinvested in Premium Bonds. To check if they have won, participants can use the NS&I online prize checker tool or the Premium Bonds prize checker app. The current prize fund rate, akin to an interest rate for Premium Bonds, is 3.60%.
While the prize fund rate has been gradually decreasing, resulting in fewer larger prizes awarded, the number of smaller prizes has seen an increase. Despite these adjustments, two £1 million prizes continue to be distributed monthly. The most recent reduction in the prize fund rate to 3.60% occurred in the August 2025 draw. Currently, nearly 23 million individuals hold Premium Bonds.