The latest Premium Bonds prize draw for May 2026 has taken place, and savers can now check if they have won a prize, ranging from £25 to £1 million. The draw, conducted by National Savings and Investments (NS&I), creates two millionaires each month, with over 24 million participants and more than £127 billion invested in the scheme.
How Premium Bonds Work
Premium Bonds are a government-backed savings product. Instead of earning interest, each £1 bond is entered into a monthly prize draw. The odds of winning for each bond are 22,000 to one. The minimum investment is £25, and the maximum is £50,000. Prizes are generated by a random digital generator called Ernie (Electronic Random Number Indicator Equipment). While the investment is risk-free, most bondholders will not win a prize in any given month.
How to Check Your Results
Results for the May 2026 draw are available from Friday 2 May, one day after the draw date. Savers can check via the NS&I website or the NS&I app. The prize checker tool allows you to enter your holder's number to see if you have won. Prizes range from £25 to £1 million, with many smaller prizes also awarded.
Martin Lewis has previously debunked common myths about Premium Bonds, stating that some beliefs about the odds are 'absolute nonsense'. He advises savers to understand that the odds are fixed and that holding more bonds increases your chances but does not guarantee a win.
With over £127 billion in the scheme, the May draw is one of the largest. If you haven't checked yet, visit the NS&I website to see if you are a winner.
