National Savings and Investments (NS&I) has revealed the winners of this month’s Premium Bonds prize draw, but who took the £1million jackpot for May 2026?
Unlike the majority of savings accounts, Premium Bonds do not accrue interest over a set time; instead, bondholders are enrolled in a monthly cash lottery.
Prize winners usually win smaller amounts; however, Premium Bond customers have the opportunity to win larger amounts of £10,000, £50,000, and £100,000.
The signature NS&I savings product is commonly known for giving two lucky savers the chance to take home the £1million jackpot prize each month.
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For May 2026, the first £1million is from Suffolk and has the winning bond number 567VN857011, which was purchased back in January 2024. They had a maximum holding of £50,000.
The second £1million winner comes from the Highlands and Islands region with the winning bond number 643SE292364, which was bought in September 2025. They had £23,500 placed in the savings product.
Thousands of other Britons have won smaller high-value amounts in this month’s NS&I draw, with a full list of the winners being on the financial institution’s website.
This month’s Premium Bonds draw comes after NS&I apologised for a major scandal, which saw bereaved families unable to claim their deceased loved ones’ savings after their passing.
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It is understood that around 37,500 individuals were impacted by the errors, resulting in delays to families accessing Premium Bonds, which were valued at up to £476million.
The scandal resulted in NS&I chief executive Dax Harkins resigning from his role, being replaced by former HM Revenue and Customs boss Sir Jim Harra.
Dan Coatsworth, the head of markets at AJ Bell, said: “NS&I effectively competes with the banks as a savings brand and is extremely popular with individuals up and down the country.
“News that thousands of bereaved families faced delays accessing their relatives’ Premium Bonds will be bruising for its reputation. Trust is incredibly important in financial services, and savers might not look so fondly at NS&I following operational failures in the business.”
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Despite this debacle, NS&I has recently relaunched a new issue of its Green Savings Bonds with an increased interest rate of 3.82 per cent gross/AER.
On top of this, the Government-backed bank has relaunched new Issues of fixed-term British Savings Bonds, including the Guaranteed Growth, and Guaranteed Income Bonds products.