Next month's Premium Bonds prize draw is imminent, and millions of savers are eager to check if they have won. Every month, the government-backed savings scheme from National Savings and Investments (NS&I) awards prizes ranging from £25 to £1 million. With over 24 million participants and more than £127 billion invested, the draw remains one of the most popular savings options in the UK.
When is the May 2026 Premium Bonds draw?
The draw for May 2026 takes place on Friday, 1 May. Results become available the following day, Saturday, 2 May, and can be accessed on the NS&I website or via their official app.
How do Premium Bonds work?
Premium Bonds do not earn interest like standard savings accounts. Instead, each £1 bond is entered into a monthly prize draw, with odds of 22,000 to one of winning. The minimum investment is £25, while the maximum is £50,000. The winning numbers are generated by a random digital system called Ernie (Electronic Random Number Indicator Equipment).
What are the chances of winning?
While many prizes are awarded each month, the actual likelihood of winning remains low. Most bondholders never win a prize, meaning their investment stays unchanged. However, the scheme is risk-free, so capital is never lost. Martin Lewis has calculated an effective interest rate of 4% when all prizes are considered, but he notes that most individuals will not achieve this return. Many standard savings accounts offer higher and more consistent interest rates.
Prize distribution for January 2026
- £1 million: 2 winners
- £100,000: 77 winners
- £50,000: 156 winners
- £25,000: 309 winners
- £10,000: 773 winners
- £5,000: 1,548 winners
- £1,000: 16,276 winners
- £500: 48,828 winners
- £100: 1,731,056 winners
- £50: 1,731,056 winners
- £25: 2,635,562 winners
How to check if you have won
To verify if you have won a Premium Bonds prize, visit the NS&I prize checker on their website and enter your bond holder number. Alternatively, use the official NS&I app to check results on the go. Prizes are automatically paid into your bank account or reinvested, depending on your preference.
