The draw for Premium Bonds is held at the start of each month giving holders 12 chances a year to win prizes
Premium bond holders are in with a shout at becoming millionaires each month but the odds are somewhat long.
Every month since 1957, those who have invested in the bonds are part of a draw for prizes ranging from £1m to £25.
But the Government’s National Savings and Investments (NS&I), which runs the scheme, has admitted the odds of winning are 22,000 to 1 for every £1 bond in the monthly prize draw.
So a return on your investment is never guaranteed but they are billed as a “fun way to save”, with all cash prizes tax-free if your number comes up.
When are the premium bonds prize draws in 2025?
The premium bond draws are held once a month throughout the year, the next one will be at the start of February.
Ernie, the Electronic Random Number Indicator Equipment, has generated the winning numbers each month since 1957.
The winners are then announced on the first working day of each month. If the first day falls on a Saturday, Sunday, or bank holiday, the results may be delayed by up to three days.
For 2025, the draw date announcements will be on:
- Monday 3 February
- Monday 3 March
- Tuesday 1 April
- Thursday 1 May
- Monday 2 June
- Tuesday 1 July
- Friday 1 August
- Monday 1 September
- Wednesday 1 October
- Monday 3 November
- Monday 1 December
How much can you win each month?
Prizes are split into three value bands – higher, medium and lower – and then a percentage share of the monthly prize fund is allocated to each band.
Higher-value band
There are always two £1m jackpots each month.
The balance of the prize fund share allocated to the higher-value band is then divided equally among the remaining prize values which are:
- £100,000
- £50,000
- £25,000
- £10,000
- £5,000
Medium-value band
From the share of the prize fund allocated to this band, the number of prizes is calculated so there is one £1,000 prize for every three £500 prizes.
Any surplus is added to the share allocated to the lower-value band.
The prizes in this band are:
Lower-value band
In this band, there is an equal number of £100 and £50 prizes.
And the total number of prizes of all values is equal to the number of eligible £1 bond units divided by the odds.
The prizes in the band are:
How can I check if I’ve won premium bonds?
To check if your Premium Bonds have been picked out in the draw, you can use the NS&I online prize checker here by entering your bond numbers.
You can also get the same information on the NSI app, which can be downloaded for free at the Apple App Store or Google Play for Android.
And you can find out whether you’ve been lucky in the prize draw by asking Alexa.
Look out for the Premium Bonds prize checker Alexa skill at Amazon.
Once the skill is enabled, you can check for prizes, find out when the next results are available and if you have any unclaimed prizes.
To check on your bonds, you will need your unique holder’s number, found on your bond record or by logging into your account on the NS&I website.
It will have either nine of 10 digits, or be an eight-digit number with a letter at the end.
Prizes do not carry a time limit, so you can claim as far back as the original 1957 draw.
To reduce the potential for leaving prizes unclaimed, premium bond holders can opt to have them paid directly into their bank account or automatically reinvested into more bonds.
NS&I says that almost nine in 10 prizes are now paid this way, and you can find out more details here.
How can I buy premium bonds?
The minimum investment you can make in premium bonds is £25 and the maximum is £50,000.
To purchase them, you can:
- Buy online – got to the website here and have your debit card details at the ready.
- Buy over the phone – call free on 08085 007 007 to purchase and have your debit card details ready. If you are buying bonds for someone else’s child, you cannot buy them by phone.
- Buy by post – print and complete an application form from here. Send it to NS&I, Sunderland SR43 2SB with a cheque payable to NS&I.
- Buy by bank transfer or standing order – if you or a child you are buying for already have some premium bonds, you can buy more via bank transfer (including standing order)
