Premium Bonds savers have been urged by NS&I to do a quick check. The provider has now announced the prize winners for the January 2026 draw.
The prize draw for Premium Bonds takes place at the start of each month, with each £1 Bond that goes into the draw having the same chance of winning a prize. Big cash prizes include for amounts such as £100,000 or £50,000, and you even have a chance of scooping a £1million jackpot prize.
There are always two £1million prizes in each monthly draw. This month’s jackpot winners were from Suffolk and Berkshire, with winning Bonds 570QM451332 and 377PG290829 respectively.
As the first winners of the year have been announced, NS&I has called on customers to check if they have any winnings heading their way.
‘Quick and easy’ check
Andrew Westhead, NS&I retail director, said: “This month, ERNIE (Electronic Random Number Indicator Equipment) drew more than six million tax-free prizes worth over £406million, bringing a happy new year to savers across the country. Premium Bonds holders can check if they’ve won a prize from Saturday, 3 January, on our quick and easy NS&I prize checker app.”
You can download the free app through the Apple App Store or through Google Play. Guidance on the NS&I website explains you can use the app to “instantly” find out if you have won a prize.
With the app, you can use either your NS&I number or your holder’s number to check for any prizes, in both the latest draw and in the last six draws.
You can also head online to see if you have any prizes to take home, using the prize checker tool on the NS&I website. The provider updates its prize checker on the day after the first working day of the month, with the latest winners.
£1million prizes
In the January 2026 draw, the first £1million prize was won by a saver from Suffolk with winning Bond 570QM451332, which they purchased in February 2024, when they purchased £10,000 in Bonds. They held the maximum £50,000 in Bonds going into the January draw.
A saver from Berkshire took home the other £1million prize. Their lucky Bond was number 377PG290829, which they bought in December 2019, when they invested in £10,000 in Bonds. They also previously held the maximum £50,000 in Bonds.
Changes to Premium Bonds
Many savings providers have been reducing their rate in recent months, as the base rate set by the Bank of England has been falling. NS&I slashed the prize fund rate for Premium Bonds several times last year.
The rate fell from the January 2025 draw, down from 4.15 percent to 4 percent. NS&I then reduced the rate from 4 percent to 3.8 percent from April and from 3.8 percent down to the current 3.6 percent, from August.
The rate reached its peak of 4.65 percent back in September 2023. The odds of each £1 Bond winning are currently 22,000 to one.
The best way to increase your chances of winning is to buy more Bonds, giving you more entries into each month’s draw. Many customers set up their account so any winnings are automatically used to buy additional Bonds.
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