The National Savings and Investments (NS&I) has announced the Premium Bond winners for February 2025, with two lucky individuals each claiming a £1 million prize. As millions of people await the results, NS&I has also made adjustments to its prize fund rate, impacting future draws.
February’s Million-Pound Winners
This month’s £1 million jackpot has gone to two lucky winners:
- Winning Number: 150EN423722 – A bond purchased in January 2009, held by a resident in Kirklees.
- Winning Number: 513EP525664 – A bond bought in September 2022, held by a winner in Sheffield.
While only two winners take home the top prize, thousands of other Premium Bond holders have won smaller amounts.
Premium Bond Prize Breakdown
Each month, millions of tax-free prizes are awarded, ranging from £25 to £1 million. Here’s an overview of the estimated number of winners in key prize categories for February 2025:
- £100,000 prize – 82 winners
- £50,000 prize – 166 winners
- £25,000 prize – 331 winners
- £10,000 prize – 827 winners
- £5,000 prize – 1,652 winners
For those holding Premium Bonds, the odds of winning any prize remain 1 in 22,000 per £1 bond.
Changes to the Premium Bond Prize Fund
NS&I has confirmed that the prize fund rate for Premium Bonds has been adjusted from 4.15% to 4% starting from the January 2025 draw. The change follows an internal review aimed at balancing the interests of savers, taxpayers, and the broader financial sector.
Andrew Westhead, NS&I Retail Director, stated:
“We carefully review our savings rates in response to changes in the broader market. These adjustments help us meet our net financing target while balancing the interests of our savers, taxpayers, and the wider financial services sector.”
Despite the reduction, Premium Bonds remain one of the UK’s most popular savings products, with over 24 million people investing a combined £122 billion. The appeal of tax-free prizes and a 100% Government-backed guarantee continues to attract savers.
How to Check If You’ve Won
Winners can check their Premium Bond results through several methods:
- Online – Visit the official NS&I website and use the prize checker tool.
- Mobile App – Download the NS&I app for instant access to your results.
- Holder’s Number – Use your unique number, which can be found on your bond records, to check winnings.
- NS&I Number – This can also be used to search for past winnings.
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Are Premium Bonds Still a Good Investment?
With the recent change in the prize fund rate, some financial experts have questioned whether Premium Bonds remain a worthwhile investment. Personal finance expert Martin Lewis has previously advised savers to consider how much they have invested and their individual risk tolerance. Unlike traditional savings accounts, Bonds offer no guaranteed return—only the potential for winnings.
Despite this, millions of Britons continue to use Bonds as a safe, Government-backed savings option with the added excitement of winning tax-free prizes.
Next Draw and Future Announcements
The next Premium Bond draw will take place in March 2025, with another two million-pound winners set to be announced. NS&I will continue reviewing interest rates and prize fund allocations based on market conditions.
For those looking to participate in future draws, Premium Bonds can be purchased online via the NS&I website or by phone. Each bond costs £1, with a minimum investment of £25.
Stay tuned for next month’s results—and good luck!