The first month of 2026 has delivered life-changing news for two lucky savers, as National Savings & Investments (NS&I) announces the latest Premium Bonds millionaires.
Meet the January 2026 Millionaires
The first of the two £1 million jackpot winners for January 2026 is a resident of Suffolk. This saver holds the maximum allowable investment of £50,000 in Premium Bonds. Their fortunate bond, numbered 570QM451332, was originally purchased in February 2024.
The second multi-millionaire hails from Berkshire and also holds the full £50,000 in bonds. Their winning entry, with the number 377PG290829, has been in the monthly draws since it was bought in December 2019, demonstrating that older bonds can still hit the jackpot.
How Premium Bonds Work
Unlike traditional savings accounts, Premium Bonds do not pay interest. Instead, every £1 invested is converted into a unique bond number, entering the holder into a monthly prize draw run by NS&I. The maximum investment is £50,000 per person.
The prizes range from £25 to £1 million, with the odds of any single £1 bond winning a prize each month standing at 22,000 to 1. While thousands of £25 prizes are awarded monthly, there are consistently just two top-tier £1 million prizes.
Winners are typically notified by email or text message from NS&I. Savers can also check results using the official NS&I online prize checker or the dedicated Premium Bonds app. Winnings can be withdrawn to a bank account or automatically reinvested into more bonds.
The Current Prize Fund and Recent Trends
The prize fund rate, which functions similarly to an interest rate for Premium Bonds, remains at 3.60%. This rate has been held steady since the August 2025 draw.
NS&I notes that a gradual decrease in this rate in recent months has led to a slight shift in prize distribution. The number of some larger prizes has reduced marginally, while the quantity of smaller-value prizes has increased. Despite this adjustment, the two monthly £1 million jackpots remain guaranteed.
Premium Bonds continue to be hugely popular across the UK, with more than 24 million people currently holding them. Recent data on luckiest locations revealed that in 2025, Hampshire and the Isle of Wight were particularly fortunate, with 42 residents winning £100,000 prizes. Essex and Outer London followed closely. The £1 million jackpot was landed twice last year in both Norwich and Cumbria.
