In today’s announcement, the Premium Bond results for January 2026 revealed that two individuals have each won £1 million, kicking off the New Year on a high note.
The first lucky winner, residing in Suffolk, holds the maximum £50,000 in Premium Bonds. Their winning bond number, 570QM451332, was acquired in February 2024. Similarly, the second £1 million winner hails from Berkshire and also possesses £50,000 in Premium Bonds, with the winning bond number 377PG290829 purchased in December 2019.
Premium Bonds, a savings product offered by National Savings & Investment (NS&I), differ from traditional savings accounts as they enter participants into a monthly prize draw instead of providing a fixed interest rate.
Each month, the prize range for Premium Bonds spans from £25 to £1 million, with a higher frequency of smaller prizes compared to the larger sums. Participants can hold up to £50,000 in Premium Bonds, with each pound invested corresponding to a unique bond number.
The odds of winning a prize with each £1 bond each month stand at 22,000 to 1. Winners are notified via email or text message by NS&I and can choose to receive their prize money in their bank account or reinvest it in Premium Bonds. Utilizing the NS&I online prize checker or the Premium Bonds prize checker app allows participants to verify if they have won.
Currently, the prize fund rate for Premium Bonds, serving as a proxy for an interest rate, is set at 3.60%, unchanged since the August 2025 draw. Although the prize fund rate has been gradually decreasing recently, resulting in a slight reduction in the number of larger prizes and an increase in smaller prizes, two £1 million prizes are still awarded each month.
Data disclosed last month identified the luckiest regions for winning Premium Bond prizes, with Hampshire and the Isle of Wight standing out as the top locations. In 2025, residents of these areas claimed numerous £100,000 prizes. Additionally, locations like Essex and Outer London saw a significant number of £100,000 prizes awarded in the past year, while Norwich and Cumbria each had two £1 million jackpot winners in 2025.