NS&I has revealed the results for May 2026 Premium Bond draws, announcing two lucky winners of £1 million each. The first winner, from Suffolk, holds the maximum £50,000 in Premium Bonds with the winning bond number 567VN857011 purchased in January 2024. The second winner, hailing from the Highlands and Islands region, has £23,500 invested 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 participants a chance to win prizes in monthly draws instead of receiving interest on their money. The monthly prizes range from £25 to £1 million, with more smaller prizes distributed compared to the larger sums. Typically, thousands of £25 prizes are awarded alongside just two £1 million prizes each month. Participants can hold a maximum of £50,000 in Premium Bonds, with each £1 invested yielding a unique bond number.
New Premium Bond purchases must be held for a full calendar month before entering the prize draw, with odds of winning at 23,000 to 1 for every £1 bond. Winners are notified by email or text message by NS&I and can choose to receive the prize money in their bank account or reinvest it in Premium Bonds. An online prize checker tool is available to confirm if a prize has been won.
The current prize fund rate for Premium Bonds stands at 3.3%, which serves as a reference point akin to an interest rate. Despite a slight decrease in the prize fund rate in recent months, resulting in a lower number of larger prizes being distributed, two £1 million prizes continue to be awarded monthly. Over 24 million individuals are currently invested in Premium Bonds.
Laura Suter, director of personal finance at AJ Bell, noted that the Premium Bond ‘prize fund rate’ allows savers to compare the account to standard savings accounts. She highlighted that not all savers experience ‘average’ luck, as evidenced by the varying prize distributions, including the occurrence of substantial prizes skewing the figures.