Every month, two lucky people become instant millionaires when premium bonds are drawn – and plenty more receive a welcome boost to their bank accounts when they win smaller prizes.
The National Savings & Investments (NS&I) bonds were launched in 1956 and now millions of pounds in prizes are won every year.
But what are premium bonds and when are they drawn? From the key dates to how to boost your chances, here’s what you need to know.
What are Premium Bonds?
Premium Bonds are essentially savings accounts but, instead of receiving regular interest payments, bondholders with £25 or more are entered into a monthly prize draw for a tax-free sum.
There are two £1 million winners each month and other prizes range from £100 to £100,000. According to the NS&I website, the odds of winning are 22,000 to one.
When are Premium Bonds drawn?
Premium Bond prizes winners are randomly picked out on the first working day of each month.
The full list of draw dates for 2025 as follows:
How to check if you have won
You can use the NS&I website to check your account.
Simply visit the prize checker and enter your holder’s number to see if you’ve won. If you’ve not checked in for a while, you’ll also be able to see if there are any wins you’ve missed.
How to boost your chances of winning in the premium bonds draw
Every £1 bond has the same chance of winning – so the only way to boost your chances is to have more money in them.
The maximum amount one person is allowed to have is £50,000 worth.
