Key facts:

• Two savers won £1 million each in the May 2026 Premium Bonds prize draw.
• The total number of prizes distributed was 5,947,523.
• The total value of prizes was £376,180,825.
• The odds of winning a prize of any size were 23,000 to 1 for each £1 saved in Premium Bonds.
• The prize fund rate was 3.3%.

The first winner in Suffolk holds bond number 567VN857011, purchased in January 2024. The second winner from the Scottish Highlands and Islands possesses bond number 643SE292364, acquired in September 2025. They can check their results using the Premium Bonds prize checker app or the NS&I website starting from May 2.

With over 99% of prizes paid to winners since the draws began in 1957, this latest draw also saw a significant distribution of smaller prizes. In total, there were 17,682 prizes worth between £1,000 and £100,000 awarded this month, with the smallest prize amount set at £25.

This latest draw continues to highlight the appeal of Premium Bonds as a unique savings option that doesn’t accrue interest but instead offers holders a chance to win big through a cash lottery format.

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The one-year British savings bond rate increased from 4.07% to 4.5% AER, while the two-year bond rate rose from 3.98% to 4.48% AER. The three-year bond rate also saw an increase from 4.02% to 4.45% AER, and the five-year bond rate went from 4.05% to 4.4% AER. These changes reflect NS&I’s strategy to attract more deposits as inflation continues to challenge the financial stability of many households.

Key statistics:

• The one-year bond rate is now at 4.5% AER.
• The two-year bond rate is now at 4.48% AER.
• The three-year bond rate is now at 4.45% AER.
• The five-year bond rate is now at 4.4% AER.

Anna Bowes commented on the significance of these changes: “This choice can be important, particularly for those who pay tax on their savings.” Many savers are exploring options that can provide better returns in light of rising living costs and stagnant wages.

Meanwhile, NS&I remains a popular choice among individuals across the UK, competing effectively with traditional banks in the savings market. Dan Coatsworth noted, “NS&I effectively competes with the banks as a savings brand and is extremely popular with individuals up and down the country.” This popularity stems from the security it offers as a government-backed entity.

In addition to the bond rates, NS&I’s Premium Bonds continue to attract attention. The maximum holding for Premium Bonds is £50,000, and currently, the prize fund rate stands at 3.3%. However, the odds of securing a prize remain steep at 23,000 to one for each £1 Bond—an aspect that some savers weigh heavily when considering their options.

As NS&I adjusts its rates routinely to meet its net financing target set by the government, these recent hikes signify an important moment for both savers and the broader financial services landscape in the UK. With inflation still a pressing concern for many households, these new rates present an opportunity for those looking to secure their savings more effectively.

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The new bonds require funds to be locked away for three years, with no access during that period. Savers must invest a minimum of £100 and can go up to £100,000 per person for each issue. With all NS&I products backed by the Treasury, deposits here are fully guaranteed—an enticing proposition for many.

These bonds were first introduced in 2021 as part of an initiative to allow savers to contribute toward environmentally focused Government initiatives. According to Rachel Springall, a finance expert, “This latest offering from NS&I will likely be an enticing choice for savers who are content to lock their cash away for three years.” The commitment to environmental projects adds another layer of appeal.

Currently, NS&I serves over 24 million customers across its diverse savings and investment products. The recent rate increase aims not only to attract new investors but also to retain existing ones who may be considering other options in a fluctuating market.

As interest rates rise globally, the competitive edge of the Green Savings Bonds becomes clearer. Savers are drawn toward Treasury-backed savings that promise security while also contributing positively to the environment.

With the financial landscape continually evolving, this move by NS&I reflects broader trends in consumer behavior and investment preferences. Many individuals are prioritizing sustainability alongside financial returns.

As more people become aware of these changes, it will be interesting to see how they respond. The bonds’ focus on environmental projects could resonate well with those looking to make a difference while saving money.

In this context, the increased interest rate not only serves as a financial incentive but also aligns with a growing commitment among consumers towards eco-friendly investments.

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