The Premium Bonds prize fund rate is set to rise from 3.80% to 4.35% starting with the September 2026 draw. This means the odds of winning a prize will improve from 22,000 to 1 to 21,000 to 1.
More prizes and a bigger pot
Compared with the August 2026 draw, there will be an estimated 308,000 additional prizes, increasing the prize pot by around £63 million to over £497 million. In September, there are expected to be 12 extra £100,000 prizes, 27 more £50,000 prizes, and an additional 51 £25,000 prizes. There will also be over 2.3 million £100 prizes, bringing the total to more than 6.5 million prizes. Two £1 million prizes will still be awarded.
What are Premium Bonds?
Premium Bonds are a savings product where holders are entered into a monthly prize draw instead of receiving a guaranteed rate of interest. The prize fund rate is the closest equivalent to an interest rate for this product. Premium Bonds are run by National Savings and Investments (NS&I), which is backed by the Treasury.
Andrew Westhead, NS&I Retail Director, said: "The September Premium Bonds draw is now expected to have more than 6.5 million tax-free prizes worth over £497 million. Premium Bonds continue to offer over 22 million savers of all ages the monthly excitement of tax-free prizes with 100% security backed by HM Treasury, and the flexibility to withdraw at any time."
How to check and other rate changes
The maximum amount that can be saved in Premium Bonds is £50,000, with a unique bond number allocated for every £1 invested. Winners can check via the NS&I online prize checker tool or the Premium Bonds prize checker app. Prize money can be paid into a bank account or reinvested into new bonds. NS&I contacts winners by email or text message.
NS&I has also announced increases to the variable interest rate for its Direct Saver, which will rise to 3.75% gross/AER, and for Income Bonds, which will rise to 3.69% gross/3.75% AER. These rates were last increased in May 2026. Interest rates have also been raised for one, two, three, and five-year fixed-term Guaranteed Growth Bonds and Guaranteed Income Bonds. Customers with bonds maturing from 18 August will automatically receive the new rate.
