Sunita Somvanshi
NS&I has drawn the October 2026 Premium Bonds prizes, and prize checking for ordinary winners opened on October 2. Two bondholders have each won the top prize of £1 million — one in Somerset, one in East Sussex.
The October Draw at a Glance
- Total prizes drawn: 6,546,849
- Total prize value: £498,378,775
- Top prize: £1 million (two winners)
- Prize-fund interest rate: 4.35%
- Odds per £1 Bond: 21,000 to 1
The prize fund rate of 4.35% is a blended figure across all prize tiers, not the return on any individual bond. In practice, the vast majority of bonds win nothing in any given draw, while a small number win larger prizes. The 21,000-to-1 odds apply to each £1 bond unit per draw — they do not improve with the value of your holding.
How to Check Whether You Have Won
NS&I offers three ways to check:
- Online prize checker at nsandi.com — enter your holder number.
- NS&I app — log in with your holder number and password.
- Alexa skill — if you have linked your NS&I account, ask “Alexa, check my Premium Bonds.”
Results for individual prizes are available from October 2. If you have unclaimed prizes from previous draws, they will also appear in your account. NS&I data shows that more than 2.86 million prizes worth £128.3 million are currently sitting unclaimed — meaning holders have either not checked or have changed address without updating their details. If you have bonds and have not logged in recently, do so now. Unclaimed prizes do not expire, but the prize is not paid out automatically — you need to log in to see whether you have won and initiate the claim.
Are Premium Bonds Worth Holding at a 4.35% Rate?
The 4.35% prize fund rate is NS&I’s blended return figure for the draw. Whether it is competitive against fixed savings accounts depends on your tax bracket and risk tolerance — Premium Bonds returns are tax-free and variable by luck, meaning a small number of holders will outperform substantially while the majority will earn less than the headline rate implies. For higher-rate taxpayers, the tax-free structure is the main advantage. For basic-rate taxpayers with savings below the personal savings allowance, a fixed-rate account may offer a more predictable return. Read our breakdown of HYSA vs. CD returns for a direct comparison of tax-free and fixed savings options.
The next draw takes place in November. NS&I will publish the prize fund rate for that draw in advance.
Related Karmactive coverage: CD Rates and HYSA Math provide additional context for this story.
