NS&I has revealed the May 2026 results of Premium Bonds, announcing two winners of £1 million each. One lucky winner, who holds the maximum £50,000 in Premium Bonds, is from Suffolk with the bond number 567VN857011 purchased in January 2024. The second winner, from the Highlands and Islands region, has £23,500 in Premium Bonds with the winning bond number 643SE292364 bought in September 2025.
Premium Bonds, a savings product by NS&I backed by the Treasury, offer a chance to win in a monthly prize draw instead of earning interest. The monthly prizes range from £25 to £1 million, with more smaller prizes distributed compared to larger sums. Each £1 investment in Premium Bonds corresponds to a unique bond number, with a maximum savings limit of £50,000.
New Premium Bond purchases must be held for a full calendar month before entering the prize draw. The odds of winning a prize each month are 23,000 to 1 for every £1 bond. Winners are notified via email or text message by NS&I and can choose to have the prize money deposited into their bank account or reinvested in Premium Bonds.
Currently, the prize fund rate stands at 3.3%, with the number of larger prizes decreasing slightly while smaller prizes have increased due to the declining prize fund rate. Despite this, two £1 million prizes are still awarded monthly, with over 24 million individuals holding Premium Bonds.
Laura Suter, director of personal finance at AJ Bell, highlighted that the Premium Bond ‘prize fund rate’ serves as a benchmark compared to regular savings accounts. However, she noted that not all savers experience ‘average’ luck, leading to some receiving large prizes, affecting the distribution of winnings.
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