In the latest update, the results for the December 2025 Premium Bond draw were revealed, with two fortunate individuals winning £1 million each.
Every month, two individuals are selected as £1 million Premium Bond winners. In this December draw, the initial winner hails from Norwich, holding £35,000 in Premium Bonds. Their winning bond number, 591RD417238, was purchased in August 2024. The second £1 million winner resides in Cornwall and possesses £20,000 in Premium Bonds, with the winning bond number 615WP633178 purchased in February 2025.
Premium Bonds, a savings product offered by National Savings & Investment (NS&I), function uniquely by entering holders into a monthly prize draw instead of providing a fixed interest rate on investments.
While the smallest monthly prize is £25 and the largest is £1 million, winning is not guaranteed, making some months devoid of any returns on Premium Bonds. The bulk of the prizes distributed monthly are for smaller amounts, with thousands of £25 prizes given out compared to just two £1 million prizes.
Andrew Westhead, NS&I Retail Director, extended congratulations to the festive Premium Bonds jackpot winners, emphasizing the joy of celebrating Christmas as millionaires. In December, over six million prizes will be distributed, including 77 prizes of £100,000 and 153 prizes of £50,000. The popularity of Premium Bonds persists, with more than 22 million individuals holding Bonds.
The maximum permitted savings in Premium Bonds is £50,000, with each £1 investment assigned a unique bond number. The odds of a bond winning each month stand at 22,000 to 1 for every £1 bond.
In the event of winning a prize, recipients will be notified via email or text message by NS&I, with options to have the funds deposited into their bank account or reinvested in Premium Bonds. Tools such as the NS&I online prize checker and the Premium Bonds prize checker app allow individuals to verify if they have won. The current prize fund rate, analogous to an interest rate for Premium Bonds, is 3.60%.
Over time, the prize fund rate has gradually declined, resulting in a slight decrease in the number of larger prizes awarded and an increase in smaller prize allocations. Nonetheless, two £1 million prizes continue to be awarded monthly, with the most recent prize fund reduction occurring in the August 2025 draw, set at 3.60%. The extensive reach of Premium Bonds is evidenced by nearly 23 million people holding Bonds.