NS&I announces Premium Bonds change affecting millions of savers
NS&I is reducing its Premium Bonds prize fund rate again from its August 2025 draw. The prize fund rate is being reduced from 3.80% to 3.60%.
Premium Bonds are a savings product where you're entered into a monthly prize draw, instead of getting a guaranteed rate of interest on your money. The prize fund rate is the closest thing Premium Bonds has to an interest rate.
The odds of winning a prize from the August 2025 draw will remain at 22,000 to 1, and there will still be two £1million prizes available.
There is expected to be over 6,011,195 prizes with a value of £396,738,700 in the August 2025 draw, versus 5,974,465 prizes with a value of £416,221,075 in the June 2025 draw.
Have you won big on Premium Bonds and want to share your story? Let us know by emailing: mirror.money.saving@mirror.co.uk
There will be a larger number of smaller prizes available - for example, the number of £25 prizes is expected to grow from 2,197,831 in June 2025 to 2,569,568 in August 2025.
Andrew Westhead, NS&I Retail Director, said: 'This adjustment to the Premium Bonds prize fund rate – the first in four months – reflects the changing landscape for savings.
'Premium Bonds maintain their unique appeal by offering complete security backed by HM Treasury, the flexibility to withdraw easily, and the excitement of potentially winning a tax-free prize each month.
'The August draw is expected to deliver more than 6 million tax-free prizes worth over £396 million. By making this adjustment now, we're able to continue to balance the interests of savers, taxpayers and the stability of the broader financial services sector.'
You get a unique bond number for every £1 invested in Premium Bonds, and the maximum you can have saved is £50,000. Keep in mind that some months, you may not win anything at all.
You can use the NS&I online prize checker tool, or the Premium Bonds prize checker app, to see if you've won. If you're a winner, you can have the money paid into their bank account, or reinvest it into new Premium Bonds.
You should be emailed or sent a text message from NS&I if you win. More than 24 million people in the UK have Premium Bonds.
It comes after Premium Bond results for June 2025 were confirmed. The first £1million prize went to one Premium Bonds holder in Stockport with the winning bond number 103FE583469.
The second £1million prize was given to someone living in Edinburgh with the bond number 352AC359547. Both people held £50,000 in Premium Bonds.
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