NS&I has revealed the results of the May 2026 Premium Bond draw, which includes the announcement of two fortunate winners of £1 million each.
The initial £1 million prize recipient hails from Suffolk and possesses the maximum £50,000 in Premium Bonds. Their winning bond number, 567VN857011, was obtained in January 2024.
The second £1 million winner comes from the Highlands and Islands region and has £23,500 invested in Premium Bonds. Their winning bond number, 643SE292364, was purchased in September 2025.
Premium Bonds, a savings product offered by NS&I and supported by the Treasury, provides participants with the opportunity to enter a monthly prize draw in lieu of earning interest on their savings.
The monthly prizes range from £25 to £1 million, with a higher number of smaller prizes distributed compared to the larger sums. While thousands of £25 prizes are typically awarded, there are only two £1 million prizes available. Participants can hold a maximum of £50,000 in Premium Bonds, with each £1 investment corresponding to a unique bond number.
New Premium Bond purchases must be held for a full calendar month before being eligible for the monthly prize draw. The odds of winning a prize each month are 23,000 to 1 for every £1 bond.
Winners are notified by email or text message by NS&I and can choose to receive their prize money in their bank account or reinvest it in Premium Bonds. They can also utilize the NS&I online prize checker tool or the Premium Bonds prize checker app to verify if they have won.
The current prize fund rate, akin to an interest rate for Premium Bonds, stands at 3.3%. Although the prize fund rate has slightly decreased in recent months, resulting in fewer large prizes being awarded, there are still two £1 million prizes distributed every month. Over 24 million individuals currently hold Premium Bonds.
Laura Suter, the director of personal finance at AJ Bell, noted that the Premium Bond ‘prize fund rate’ is intended to offer savers a basis for comparison with traditional savings accounts. However, she highlighted that not all savers experience ‘average’ luck, as the distribution of prizes is not evenly spread among all participants.
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