In the latest announcement, the Premium Bond results for January 2026 revealed that two individuals have struck it rich, each winning £1 million to kick off the New Year.
The first lucky winner hails from Suffolk and holds the maximum £50,000 in Premium Bonds. Their winning bond number, 570QM451332, was acquired in February 2024. The second £1 million winner resides in Berkshire and also possesses £50,000 in Premium Bonds, with their winning bond number being 377PG290829, bought in December 2019.
Premium Bonds, a savings product offered by National Savings & Investment (NS&I), operate uniquely by entering participants into a monthly prize draw instead of offering a fixed interest rate on their investment.
The monthly prizes for Premium Bonds range from £25 to £1 million, but winning a prize every month is not guaranteed, with a higher number of smaller prizes distributed compared to the larger sums. Participants can save a maximum of £50,000 in Premium Bonds, receiving a distinct bond number for every £1 invested.
The odds of winning a prize with each bond are 22,000 to 1 per £1 bond. Winners are typically notified via email or text message by NS&I, allowing them to choose to receive the prize in their bank account or reinvest it in Premium Bonds.
Currently, the prize fund rate for Premium Bonds stands at 3.60%, which has been consistent since the August 2025 draw. While the prize fund rate has been gradually decreasing recently, leading to a slight drop in the number of larger prizes awarded and an increase in smaller prizes, two £1 million prizes continue to be given out each month.
Despite these changes, the number of Premium Bond holders has exceeded 24 million. Recent data shared with This is Money revealed the luckiest areas for winning Premium Bond prizes in the past year, with Hampshire and the Isle of Wight leading the way with 42 individuals winning £100,000 prizes in 2025.
Essex, Outer London, Norwich, and Cumbria were also highlighted as fortunate locations, each producing several winners of substantial prizes in the previous year.