The Premium Bond results for May 2026 have been officially announced by NS&I, revealing the fortunate recipients of two £1 million prizes. The first winner hails from Suffolk and holds the maximum allowable investment of £50,000 in Premium Bonds. Their winning bond number is 567VN857011, purchased in January 2024. The second winner, from the Highlands and Islands region, has £23,500 invested, with winning bond number 643SE292364 bought in September 2025.
How Premium Bonds Work
Premium Bonds are a savings product offered by NS&I, backed by the Treasury. Instead of earning interest, savers are entered into a monthly prize draw. The smallest prize is £25, while the top prize is £1 million. However, winning is not guaranteed each month, and smaller prizes are far more common than larger ones. Typically, thousands of £25 prizes are awarded each month alongside the two £1 million prizes.
Investment Details and Odds
The maximum amount that can be held in Premium Bonds is £50,000. For every £1 invested, savers receive a unique bond number. New purchases must be held for one full calendar month before entering the draw. The odds of winning for each £1 bond are 23,000 to 1 per month.
Checking and Claiming Prizes
Winners are notified via email or text message from NS&I. Prize money can be paid into a bank account or reinvested into more Premium Bonds. Savers can also check for wins using the NS&I online prize checker tool or the Premium Bonds app.
Prize Fund Rate and Recent Changes
The current prize fund rate, which acts as a proxy for interest, stands at 3.3%. This rate has been gradually decreasing, leading to a slight reduction in the number of larger prizes and an increase in smaller prizes. Nonetheless, two £1 million prizes continue to be awarded each month. Over 24 million people currently hold Premium Bonds.
Laura Suter, director of personal finance at AJ Bell, noted: "The Premium Bond ‘prize fund rate’ is intended to give savers some comparison with how the account compares to normal savings accounts." She added: "Clearly not everyone has ‘average’ luck, otherwise the prizes would be handed out equally to every saver. The fact that there are some very large prizes also skews the figures."
