The first Premium Bonds millionaires of 2026 have not been created this month, but two savers are starting the new year £10,000 richer. National Savings and Investments (NS&I) has conducted its inaugural prize draw for 2026, urging all bond holders to check their accounts.
Meet the First Winners of the Year
The top prize for January has been awarded to a saver from Suffolk. The winning bond number is 570QM451332, which was purchased in February 2024. This individual holds a total of £50,000 in Premium Bonds, with the winning bond itself valued at the maximum £10,000.
The second £10,000 prize goes to a winner from Berkshire. Their lucky bond number is 377PG290829, a holding dating back to December 2019. The value of this winning bond is also £10,000.
Expert Analysis: The Reality of Premium Bonds Odds
While the announcement brings excitement, financial experts caution savers about the realistic chances of winning. Tom Francis, Head of Digital Advice at Octopus Money, provided a sobering perspective.
"Premium Bonds give you a chance to win big – but it’s a slim one, and you’ll likely be left waiting," Francis stated. "Our research shows Premium Bond holders wait an average of 3.5 years before they win a penny, and the odds are skewed towards those with the biggest holdings: 94 per cent of jackpot winners held over £10,000."
He highlighted that for most everyday savers, Premium Bonds may fail to deliver competitive returns while savings lose value to inflation. Francis suggested alternatives for those consistently missing out on prizes: "Cash ISAs deliver reliable returns, while for many a stocks and shares ISA can be a great first step into investing."
NS&I Celebrates Another Successful Year
Andrew Westhead, NS&I Retail Director, struck a more optimistic note, reflecting on a strong 2025 for the scheme. "2025 has been another outstanding year for Premium Bonds," he said. "As we marked the 68th anniversary of ERNIE drawing the first winners in June, it’s been great to see that Premium Bonds continue to bring excitement and opportunity to savers far and wide."
Westhead emphasised the enduring trust in the government-backed provider: "From our long-standing Bond holders to our thousands of new customers, we’re proud that NS&I is trusted by millions of savers, and we’re looking forward to paying out millions more tax-free prizes in 2026."
The monthly draw marks the beginning of another year of prize distributions, with all winnings remaining tax-free for UK residents. Savers are reminded that they can check if they have won a prize via the official NS&I website, the prize checker app, or by waiting for the traditional prize warrant to arrive in the post.
