Key facts:

• Two savers won £1 million each in the May 2026 Premium Bonds prize draw.
• The total number of prizes distributed was 5,947,523.
• The total value of prizes was £376,180,825.
• The odds of winning a prize of any size were 23,000 to 1 for each £1 saved in Premium Bonds.
• The prize fund rate was 3.3%.

The first winner holds bond number 567VN857011, purchased in January 2024. The second winner has bond number 643SE292364, bought in September 2025. Winners can check their results starting May 2 using the Premium Bonds prize checker app or the NS&I website.

Since draws began in 1957, over 99% of prizes have been paid to winners. In May 2026 alone, there were also 17,682 prizes worth between £1,000 and £100,000 distributed. The smallest prize amount is £25.

This ongoing popularity showcases how Premium Bonds serve as an alternative to traditional savings accounts. With no interest accrued, participants rely on luck for potential winnings.

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Key bond rate increases:

• The one-year British savings bond rate increased from 4.07% to 4.5% AER.
• The two-year bond rate increased from 3.98% to 4.48% AER.
• The three-year bond rate increased from 4.02% to 4.45% AER.
• The five-year bond rate increased from 4.05% to 4.4% AER.

These adjustments reflect NS&I’s strategy to attract more savers while competing with traditional banks. Anna Bowes noted, “This choice can be important, particularly for those who pay tax on their savings.” The maximum holding for Premium Bonds is currently £50,000, with a prize fund rate of 3.3%. The odds of securing a prize stand at 23,000 to one for each £1 Bond.

Dan Coatsworth commented that NS&I effectively competes with the banks as a savings brand and is extremely popular with individuals up and down the country. These increased rates may help offset some of the challenges posed by inflation, allowing savers to earn more on their deposits.

Overall, these developments signal NS&I’s commitment to providing competitive options in the savings market while addressing the needs of UK savers during uncertain economic times.

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The first £1 million winner is from Suffolk. Their bond number is 567VN857011, which was purchased in January 2024. The second winner hails from the Highlands and Islands with bond number 643SE292364, purchased in September 2025.

The total amount won across the country in May’s draw reached £1,819,000. A total of 5,947,523 prizes were drawn, worth a collective £376,180,825. The odds of winning any prize stood at 23,000 to 1 for each £1 saved in Premium Bonds.

Premium Bonds do not accrue interest but are entered into a monthly cash lottery. The maximum holding for an individual in Premium Bonds is £50,000. Winners can check their results from the second working day of each month.

Over 99% of prizes have been paid to winners since draws began in 1957. However, there are millions of unclaimed Premium Bonds prizes. NS&I recently faced a scandal that affected bereaved families’ access to their Premium Bonds, resulting in delays for around 37,500 individuals.

Andrew Westhead from NS&I stated, “The quickest way to check if you have won a prize is to use our Premium Bonds prize checker app, check online, or even ask Alexa from the second working day of each month onwards.”

Dan Coatsworth emphasized that trust is crucial in financial services. He noted that savers might not look favorably at NS&I following operational failures within the business.

Both jackpot winners will have received a knock on the door by Agent Million — an anonymous NS&I employee who travels the country to inform jackpot winners of their newfound wealth.

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