One fortunate individual holding Premium Bonds has secured a £50,000 prize despite having only £45 invested in the account. The winner hails from East Riding of Yorkshire and originally acquired the bond an impressive 51 years ago back in September 1974. This £50,000 windfall ranks as the third-largest prize available in the Premium Bonds draw, trailing behind the £100,000 and £1 million prizes.
Every month, two lucky individuals are awarded £1 million each in Premium Bond prizes. In the latest draw for September 2025, the first £1 million winner 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, based in Nottingham, also maintains £50,000 in Premium Bonds, with their winning bond number being 243VC581367, acquired in April 2015.
NS&I’s Retail Director, Andrew Westhead, extended congratulations to the new jackpot winners from County Durham and Cumbria, each receiving £1 million in the September draw. He emphasized the importance for all Bond holders to keep their contact details updated to ensure they are promptly notified of any prizes they may win.
Premium Bonds, a savings product offered by National Savings & Investment (NS&I), differ from traditional savings accounts by automatically entering holders into monthly prize draws instead of earning interest on their savings. Prize amounts range from £25 to £1 million, with each £1 invested earning a unique bond number. The maximum amount allowed to be saved in Premium Bonds is £50,000.
The odds of winning a prize each month stand at 22,000 to 1 for every £1 bond, with the current prize fund rate equivalent to 3.60%. Approximately 22.7 million people hold Premium Bonds, and prize winners are notified via email or text message by NS&I. Prizes can be directly deposited into bank accounts or reinvested in additional Premium Bonds.
To check if they have won a prize, individuals can utilize the NS&I online prize checker tool or the Premium Bonds prize checker app. While the prize fund rate has slightly decreased in recent months, resulting in fewer larger prizes being awarded, the number of smaller prizes distributed has increased. Despite these adjustments, two £1 million prizes are still given out monthly, with the most recent prize fund rate reduction occurring in the August 2025 draw, bringing it down to 3.60%.