In a recent announcement, the results for the December 2025 Premium Bond draw revealed that two individuals have each won £1 million. This monthly occurrence of two £1 million winners is a notable feature of the Premium Bonds scheme. The first winner resides in Norwich, holding £35,000 in Premium Bonds with the winning bond number 591RD417238, purchased in August 2024. On the other hand, the second winner, located in Cornwall, possesses £20,000 in Premium Bonds, with the winning bond number 615WP633178 acquired in February 2025.
Premium Bonds, managed by National Savings & Investment (NS&I), operate as a savings product where instead of receiving a fixed interest rate, participants are entered into a monthly prize draw. The prizes range from £25 to £1 million, with the chances of winning not guaranteed. Typically, a significant number of smaller prizes are distributed each month compared to the limited number of £1 million prizes.
Andrew Westhead, NS&I Retail Director, extended congratulations to the recent £1 million winners, emphasizing the festive joy they can experience as millionaires. The ongoing December draw includes over six million prizes, including various amounts such as £100,000 and £50,000. Premium Bonds have maintained popularity among individuals, with more than 22 million people currently holding Bonds.
Participants are limited to saving up to £50,000 in Premium Bonds, with each pound invested receiving a unique bond number. The odds of winning a prize each month stand at 22,000 to 1 for every £1 bond. NS&I notifies winners via email or text message, allowing them to choose to have the prize money deposited into their bank account or reinvested in Premium Bonds.
To check for winnings, individuals can utilize the NS&I online prize checker tool or the Premium Bonds prize checker app. The current prize fund rate, equivalent to an interest rate for Premium Bonds, is set at 3.60%. While the prize fund rate has slightly decreased in recent months, resulting in fewer larger prizes, the number of smaller prizes has increased.
Despite adjustments, two £1 million prizes are still awarded monthly, with the latest prize fund reduction occurring in the August 2025 draw, lowering the rate to 3.60%. The total number of Premium Bonds holders has reached almost 23 million, reflecting the enduring popularity of the scheme.