In the latest announcement, the Premium Bond results for January 2026 revealed that two individuals have struck it rich with a £1 million prize each. One fortunate winner resides in Suffolk, holding the maximum £50,000 in Premium Bonds, with the winning bond number 570QM451332 purchased in February 2024. The second £1 million winner hails from Berkshire, also possessing £50,000 in Premium Bonds, and their winning bond number 377PG290829 was obtained in December 2019.
Premium Bonds, offered by National Savings & Investment (NS&I), operate as a unique savings product where instead of receiving a fixed interest rate, participants enter a monthly prize draw.
The monthly prize amounts vary from £25 to £1 million, with a higher frequency of smaller prizes compared to the larger sums. Each bondholder can save up to £50,000 in Premium Bonds, with every £1 invested corresponding to a distinct bond number.
The odds of winning a prize each month stand at 22,000 to 1 per £1 bond. NS&I contacts winners via email or text message, offering the option to have the prize money deposited into their bank account or reinvested into Premium Bonds. The current prize fund rate is 3.60%, consistent since the August 2025 draw.
Despite a gradual decline in the prize fund rate, resulting in a slight decrease in larger prizes and an increase in smaller prizes, two £1 million prizes are still awarded monthly. Over 24 million individuals currently hold Premium Bonds.
Recent data released by This is Money highlighted Hampshire and the Isle of Wight as the luckiest regions for Premium Bond prizes in 2025, with 42 winners claiming £100,000 prizes. Essex and Outer London followed closely, with Norwich and Cumbria each securing the £1 million jackpot twice last year.