A Premium Bonds holder from Gloucestershire has scooped one of the top £1million prizes in their first ever draw. Premium Bonds, a savings product managed by National Savings and Investment (NSandI), don’t earn interest but instead enter you into a monthly prize draw.
Every month, two £1million Premium Bond prizes are awarded. One Gloucestershire resident certainly had fortune on her side in the January 2025 draw, as she won one of these £1million jackpots with the bond number 601RW421962, which was only purchased in November 2024.
This January 2025 draw was the first time her bond was eligible. As reported by the Mirror, she holds the maximum £50,000 in Premium Bonds.
The second £1million prize in the January 2025 draw went to a Liverpool resident with the winning bond number 492XB861312. This person has £37,025 in Premium Bonds, and their winning bond was bought in March 2022.
Premium Bond prizes range from £25 to £1million – although some months, you may not win anything at all. You receive a unique bond number for every £1 invested, and the maximum you can have saved in Premium Bonds is £50,000. The odds of a bond winning each month are 22,000 to 1 for every £1 bond – but most prizes are for smaller amounts.
NSandI has cut its prize rate from 4.15% to 4% for its January 2025 draw. Despite this, two jackpot prizes of £1million will still be given away every month.
The prize fund rate is often referred to as the closest thing Premium Bonds has to an interest rate. Winners can check if they’ve won using the NSandI online prize checker tool or the Premium Bonds prize checker app.
If you’re lucky enough to win, you can choose to have the money paid into your bank account or reinvest it into new Premium Bonds. NSandI should notify winners via email or text message.