In today’s announcement, the Premium Bond results for January 2026 revealed that two individuals have each won £1 million to kick off the New Year.
The first lucky winner, residing in Suffolk, holds the maximum amount of £50,000 in Premium Bonds. Their winning bond number, 570QM451332, was acquired in February 2024. Similarly, the second £1 million winner from Berkshire also possesses £50,000 in Premium Bonds, with their winning bond number, 377PG290829, purchased in December 2019.
Premium Bonds, a savings product by National Savings & Investment (NS&I), offer a unique feature where instead of a fixed interest rate, participants are entered into a monthly prize draw.
The prize amounts in Premium Bonds range from £25 to £1 million, with higher chances of winning smaller prizes compared to the grand sums. While there are thousands of £25 prizes distributed, only two £1 million prizes are awarded each month. Participants can save a maximum of £50,000 in Premium Bonds, with each £1 investment generating a distinct bond number.
The odds of winning a prize with each bond per month stand at 22,000 to 1. Winners receive notifications via email or text message from NS&I, enabling them to choose between receiving the money in their bank account or reinvesting in Premium Bonds. The current prize fund rate, akin to an interest rate for Premium Bonds, is 3.60% since the August 2025 draw.
Although the prize fund rate has been gradually decreasing, resulting in fewer substantial prizes being issued, the number of smaller prizes has seen an increase. Nevertheless, two £1 million prizes are still up for grabs monthly, with over 24 million individuals currently holding Premium Bonds.
Recently disclosed data identified the luckiest areas for winning Premium Bond prizes, with Hampshire and the Isle of Wight residents securing numerous £100,000 prizes in 2025. Other fortunate locations included Essex and Outer London, where substantial prizes were also won. Additionally, the £1 million jackpot was claimed twice in Norwich and Cumbria last year.
