Money’s tight for pretty many of us, so any opportunity to get more of it is a welcome one.
Premium Bonds continue to attract millions of savers across the UK because they offer something normal savings accounts usually can’t: the chance of suddenly becoming a millionaire overnight. Every month, NS&I announces new winners, ranging from small £25 prizes all the way up to two massive £1 million jackpots. June’s draw has now been revealed, and two more lucky savers in England have officially joined the Premium Bonds millionaire club.
Two new Premium Bonds millionaires have been announced.
NS&I has confirmed that two savers won the £1 million jackpot during the June 2026 Premium Bonds draw. One winner is based in Leeds, while the other comes from Cheshire West and Chester. The Leeds winner bought their winning Bond in February 2026 and currently holds £42,425 in Premium Bonds. Meanwhile, the Cheshire winner purchased their Bond in March 2024 and holds £33,800 in total savings through the scheme.
Premium Bonds work differently from normal savings accounts.
Unlike traditional savings accounts, Premium Bonds don’t pay guaranteed interest every month. Instead, every £1 Bond entered into the scheme goes into a giant monthly prize draw. That means savers trade regular interest payments for the chance of winning cash prizes instead. Some people may win small amounts regularly, while others may go years without winning anything at all.
The odds of winning are still very long.
NS&I says the odds of any individual £1 Bond winning a prize are currently 23,000 to one. That sounds huge because it is. However, millions of people still like the idea because even though the chances are small, somebody really does win every single month. The biggest attraction is that all prizes are tax-free, which can make Premium Bonds appealing compared with some taxable savings accounts.
People can invest up to £50,000.
Premium Bonds have minimum and maximum limits. Savers must invest at least £25 to open an account. The maximum amount anybody can hold is currently £50,000. The more Bonds somebody owns, the more entries they have in each monthly prize draw, which increases their chances of winning.
Millions of prizes are still sitting unclaimed.
One surprising part of the latest update is just how many Premium Bonds prizes still have not been claimed. According to NS&I, there are currently more than 2.7 million unclaimed prizes waiting for winners. Together, those forgotten prizes are worth over £118 million. Some people may have moved house, changed bank accounts, lost paperwork, or simply forgotten they even owned Premium Bonds in the first place.
Checking your numbers is now much easier.
Years ago, people had to wait for letters arriving through the post, but the process is much simpler now. Savers can check results online through the NS&I website or by using the official prize checker app. People simply need their holder’s number or NS&I account number. The system also allows users to search for older unclaimed prizes linked to their account.
Most prizes are now paid automatically.
NS&I says around nine out of ten prizes are now either paid directly into people’s bank accounts or automatically reinvested into more Premium Bonds. This helps reduce the number of forgotten prizes sitting unclaimed for years. Reinvested prizes also immediately become eligible for the next monthly draw, which some savers hope might improve their chances further over time.
The prize fund rate is increasing again soon.
NS&I has already announced another important change coming in July. The Premium Bonds prize fund rate will increase from 3.3% to 3.8%. At the same time, the odds of winning will slightly improve too, moving from 23,000 to one down to 22,000 to one. That means there should be more prizes available overall during future draws.
Premium Bonds still divide opinion among savers.
Some financial experts love Premium Bonds because winnings are tax-free and the money itself remains safe since NS&I is backed by the UK Treasury. Others argue that many savers would probably earn more money through high-interest savings accounts instead, especially now that some accounts are paying close to 5% interest. For many people though, the excitement of potentially winning big still makes Premium Bonds feel more fun than ordinary savings.
A lot of people forget they even own them.
Premium Bonds have existed since 1957, which means many accounts have been passed down through families or opened decades ago by parents and grandparents. That’s partly why unclaimed prizes are so common. Some people genuinely don’t realise they still have Bonds sitting somewhere linked to old addresses or long-forgotten paperwork.
Checking old accounts could be worth it.
With more than £118 million sitting unclaimed, experts say it’s always worth checking whether old Premium Bonds still exist in your name or a family member’s. Even small forgotten accounts can still win prizes years later because every eligible Bond remains entered into the monthly draws unless it has been cashed in. For some savers, a quick online check could uncover money they had completely forgotten about.
