In the latest update for January 2026, the Premium Bond results were released today, bringing good news to two individuals who are now £1 million wealthier. The first lucky winner, residing in Suffolk, holds the maximum £50,000 in Premium Bonds. Their winning bond number, 570QM451332, was acquired back in February 2024. The second £1 million winner hails from Berkshire, also holding £50,000 in Premium Bonds, with the winning bond number 377PG290829 purchased in December 2019.
Premium Bonds, offered by National Savings & Investment (NS&I), operate uniquely by entering participants into a monthly prize draw instead of providing a fixed interest rate on savings. The monthly prizes range from a minimum of £25 to the grand prize of £1 million, although winning every month is not guaranteed. Generally, smaller prizes are more common than larger ones, with thousands of £25 prizes and only two £1 million prizes awarded each month.
With the maximum savings limit set at £50,000 in Premium Bonds, each pound invested corresponds to a distinct bond number, with odds of winning a prize at 22,000 to 1 for every £1 bond. Winners are typically notified via email or text message by NS&I and can choose to have their prize deposited into their bank account or reinvested into Premium Bonds. The current prize fund rate stands at 3.60%, having remained unchanged since the August 2025 draw.
Despite a slight decrease in the prize fund rate in recent months, resulting in fewer large prizes and more small prizes being distributed, two £1 million prizes are still up for grabs each month. Presently, over 24 million individuals are holders of Premium Bonds. Data shared by This is Money last month highlighted the luckiest regions for winning Premium Bond prizes in 2025. Hampshire and the Isle of Wight boasted 42 winners of £100,000 prizes, followed by Essex and Outer London, with Norwich and Cumbria each snagging the £1 million jackpot twice last year.