A fortunate individual holding Premium Bonds has secured a £50,000 prize with only £45 invested in their account. The winner, hailing from East Riding of Yorkshire, purchased the bond an impressive 51 years ago in September 1974. This £50,000 reward ranks as the third-largest in the Premium Bonds draw, following the £100,000 and £1 million prizes.
Each month, two individuals are chosen to receive £1 million Premium Bond prizes. The initial £1 million winner in the September 2025 draw resides in County Durham and holds the maximum £50,000 in Premium Bonds, having acquired the winning bond number 224BZ748917 in June 2014. The second £1 million winner, living in Nottingham and also holding £50,000 in Premium Bonds, purchased the winning bond number 243VC581367 in April 2015.
NS&I’s Retail Director, Andrew Westhead, expressed his congratulations to the two jackpot winners from County Durham and Cumbria who each scooped £1 million in the September draw. Westhead highlighted the excitement for over six million prizes being awarded this month, emphasizing the importance for bondholders to maintain updated contact details to ensure prize notifications are received.
Premium Bonds, offered by National Savings & Investment (NS&I), function as a savings product where instead of accruing interest, participants are entered into a monthly prize draw. Prizes range from £25 to £1 million, with a maximum savings limit of £50,000 per individual. The odds of winning a prize each month are 22,000 to 1 for every £1 bond, with the current prize fund rate standing at 3.60%.
Approximately 22.7 million individuals hold Premium Bonds, with prizes delivered via email or text message by NS&I for easy transfer to bank accounts or reinvestment. Tools like the NS&I online prize checker and Premium Bonds prize checker app enable participants to verify if they have won. While the prize fund rate has slightly decreased recently, the number of smaller prizes has risen, maintaining the distribution of two £1 million prizes monthly. In the August 2025 draw, the prize fund rate was adjusted to 3.60%.
