One fortunate individual holding Premium Bonds has secured a £50,000 prize with only £45 invested in their account. The winner, hailing from the East Riding of Yorkshire, acquired the bond an impressive 51 years ago back in September 1974. This £50,000 reward ranks as the third-largest in the Premium Bonds draw, following the £100,000 and £1 million prizes.
Each month, there are two lucky recipients of £1 million Premium Bond prizes. The first £1 million winner in the September 2025 draw resides in County Durham and holds the maximum amount of £50,000 in Premium Bonds. Their winning bond number, 224BZ748917, was purchased in June 2014. The second £1 million winner, located in Nottingham, also possesses £50,000 in Premium Bonds. Their winning bond number, 243VC581367, was acquired in April 2015.
NS&I’s Retail Director, Andrew Westhead, extended congratulations to the two newest jackpot winners from County Durham and Cumbria, each bagging £1 million in the September draw. Westhead emphasized the importance for all Bond holders to keep their contact information updated to ensure they receive prize notifications promptly.
Premium Bonds, a savings product offered by National Savings & Investment (NS&I), operates on a monthly prize draw system instead of traditional interest accrual on savings. Prize amounts range from £25 to £1 million, with unique bond numbers assigned for every £1 invested, capped at a maximum of £50,000 in Premium Bonds. The odds of winning each month stand at 22,000 to 1 for each £1 bond, with the current prize fund rate at 3.60%.
With approximately 22.7 million individuals holding Premium Bonds, winners are notified via email or text message by NS&I, and can choose to have their prize money deposited into their bank account or reinvested in Premium Bonds. To check for winnings, individuals can utilize the NS&I online prize checker tool or the Premium Bonds prize checker app. Despite a slight decrease in the prize fund rate in recent months, the issuance of larger prizes has slightly reduced while smaller prizes have seen an increase.
Despite adjustments in the prize fund rate, two £1 million prizes are still awarded monthly. In the most recent update during the August 2025 draw, the prize fund rate was adjusted to 3.60%.