Each month, two lucky Premium Bonds holders become millionaires through NS&I’s prize draw.
The government-backed savings scheme gives savers the chance to win tax-free prizes worth anywhere from £25 up to £1million
This month’s Premium Bonds results show that major prizes aren’t just for those with the maximum £50,000 invested.
Savers with modest amounts have also landed life-changing wins, proving that luck can strike no matter how much is saved.
One Stoke-on-Trent resident has shown this perfectly, winning £100,000 with total holdings of just £913. Their winning Bond, numbered 168YJ252329 and worth £400, was purchased in June 2010.
After holding the Bond for more than 15 years, the win highlights the truly unpredictable nature of NS&I’s monthly draws.
Unlike traditional savings accounts, Premium Bonds do not accrue interest in a normal way, but NS&I customers instead being enrolled into a monthly cash lottery draw.
NS&I, the government-supported organisation managing the scheme, uses invested funds as loans to the state, making Premium Bonds a risk-free option for savers.
Bondholders can verify potential winnings through NS&I’s online prize checker or mobile application.
The first Premium Bond £1million jackpot winner for October 2025 came from Scotland and had the winning bond number 498FZ511907, which was purchased in April 2022.
This person’s winning bond is valued at £10,000 and they appear to have an overall holding worth £10,150, according to NS&I.
Joining this individual as a £1million jackpot winner is a person from Greater Manchester with the winning bond number 524KB804512.
Notably, this particular bond is valued at only £100 and purchased in January 2023. The winner has an overall Premium Bonds holding of £34,350.
Recent bond purchasers have also enjoyed exceptional fortune, with seven 2025 buyers each claiming £100,000 prizes.
NS&I saver with £900 in Premium Bonds scoops £100,000 cash prize from bond they bought in 2010
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GETTY/NS&I;Three Outer London residents featured amongst the winners, with holdings ranging from £15,150 to £48,335.
Their victorious bonds, acquired between February and June 2025, varied in value from £1,400 to £10,000.
Cornwall and County Durham savers also secured six-figure prizes, holding £13,300 and £20,000 respectively.
The Cornwall winner’s bond, purchased in June 2025, was worth just £100, whilst the County Durham resident’s April 2025 bond carried a £10,000 value.
According to NS&I, each bond has an equal chance of winning a prize, however someone will have a higher chance of winning if they hold more bonds.
Tom Francis, the head of Digital Advice at Octopus Money, broke down the likelihood of the average Premium Bonds holder winning a big prize from NS&I’s lottery.
He shared: “Premium Bonds give you a chance to win big – but it’s a slim one, and you’ll likely be left waiting.
“Our research shows Premium Bond holders wait an average of 3.5 years before they win a penny, and the odds are skewed towards those with the biggest holdings: 94 per cent of jackpot winners held over £10,000.
“For the vast majority of everyday savers, they are failing to deliver returns while the money loses value to inflation. Even I’ve been tempted by the thrill of a prize draw, but if you have failed to win month after month, it might be time to think about where else you could put your money to make it work harder for you.
“Cash ISAs deliver reliable returns, while for many a Stocks and Share ISA can be a great first step into investing.”
There are many premium bond winners every month, but the actual chance of winning remains fairly low. Most people will never win a prize, meaning their investment will stay the same. However, the scheme is also risk-free, meaning money won’t be lost either.
How to check if you’ve won
To check if you’ve won a prize on Premium Bonds, you can visit the NS&I checker on its website and enter your bond numbers. There is also an NS&I app which allows savers to check results on the go.