Premium Bonds prizes today have created two new millionaires in the February 2026 draw, with £1 million jackpots landing in Central Bedfordshire and Liverpool. National Savings and Investments has paid out £408,082,375 this month across 6,183,066 tax free prizes, a result that will matter to savers in Manchester and across the UK weighing up where to keep their cash.
For many households using Premium Bonds as a savings buffer, this draw lands just before a confirmed cut to the prize fund rate, adding extra focus to how competitive the product remains in 2026.
Premium Bonds prizes breakdown for this month
In the February 2026 draw, NS and I distributed just over £408 million in Premium Bonds prizes.
The headline figures are:
- Two prizes of £1 million
- 78 prizes of £100,000
- 154 prizes of £50,000
- 311 prizes of £25,000
- 777 prizes of £10,000
- 1,553 prizes of £5,000
Below that sit 16,322 prizes of £1,000 and 48,966 prizes of £500, alongside around 1.74 million prizes of £100, another 1.74 million prizes of £50 and more than 2.64 million £25 prizes.
The structure remains weighted towards smaller wins. For most holders, a typical outcome is a £25 or £50 prize rather than a life changing sum, but the monthly chance of a £1 million payout keeps demand strong.
Where the £1m Premium Bonds prizes were won
One £1 million winner is based in Central Bedfordshire, holding the maximum £50,000 in Premium Bonds with the winning bond purchased in February 2022.
The second jackpot winner is from Liverpool, also with £50,000 invested. The winning bond in that case dates back to October 2004.
It is only the second time Central Bedfordshire has produced a £1 million winner and the fourth time Liverpool has seen a jackpot winner. For readers in Manchester and the wider North West, the Liverpool result is a reminder that major prizes do land in the region, even if the odds remain long.
What are the odds of winning Premium Bonds prizes
For the February 2026 draw, the prize fund rate stands at 3.6 percent. The odds of a single £1 bond winning any prize are around 1 in 22,000.
From the April 2026 draw, NS and I has confirmed the prize fund rate will fall to 3.3 percent, with the odds lengthening to 1 in 23,000. That means slightly fewer prizes overall and a marginally lower expected return across the board.
It is important to understand that the prize fund rate is not an interest rate paid to each saver. Premium Bonds do not pay guaranteed interest. Instead, each £1 bond number is entered into a monthly draw. Over the very long term, the average return across all bonds should broadly reflect the prize fund rate, but individual outcomes vary widely.
A saver in Manchester holding £5,000 in bonds could receive several small wins in a year or none at all. Returns are uneven and driven by chance.
Is it still worth having Premium Bonds in 2026
With the prize fund rate moving from 3.6 percent to 3.3 percent, Premium Bonds look less competitive on paper than the top easy access savings accounts, some of which are offering rates in the mid 4 percent range for UK savers prepared to switch.
However, Premium Bonds prizes are tax free. For higher and additional rate taxpayers, that can narrow the effective gap. Capital is also 100 percent secure as NS and I is backed directly by HM Treasury, rather than relying solely on Financial Services Compensation Scheme limits.
For many in Greater Manchester, Premium Bonds are not used as a main income generating account but as a flexible cash holding. There are no penalties for withdrawal and funds can be accessed when needed. The trade off is uncertainty. Anyone who needs predictable monthly interest for bills is usually better served by a standard savings account.
Manchester and North West angle on Premium Bonds prizes
Premium Bonds remain deeply embedded in savings habits across the North West. Recent data shows well over 200,000 historic prizes remain unclaimed in the region, worth many millions of pounds.
In Manchester, it is common for households to hold bonds for children, as a rainy day pot or simply as a long term holding that feels safer than chasing headline rates. The Liverpool jackpot this month will strengthen that appeal locally, even as the prize fund rate edges lower.
At the same time, savers using Premium Bonds as their primary cash store should compare the expected return against leading easy access accounts, especially if they have not seen a win for years. The maths is straightforward, even if the emotional pull of a £1 million prize is harder to ignore.
What NS and I says about the latest Premium Bonds prizes
NS and I says Premium Bonds remain the UK’s most popular savings product, with hundreds of millions of pounds paid out each month. The organisation adjusts the prize fund rate to reflect wider interest rate conditions while balancing value for savers and cost to taxpayers.
It also stresses that all holdings are fully backed by HM Treasury and that savers can check results using the official prize checker online or via the mobile app. Millions of prizes remain unclaimed nationally, underlining the importance of keeping personal details up to date.
How Premium Bonds work in practice
Premium Bonds are issued by NS and I in £1 units, with a maximum holding of £50,000 per person. Instead of earning interest, each bond number is entered into a monthly draw operated by a random number generator.
Prizes range from £25 to £1 million. The prize fund rate expresses the total annual payout across all bonds as a percentage of the total amount invested, but it does not guarantee any individual return.
For savers in Manchester and across the UK, Premium Bonds are best seen as secure cash with a lottery style overlay, not a replacement for core savings relied on for regular outgoings.
What happens next for Premium Bonds holders
All existing holders will automatically be entered into the March 2026 draw, with results typically published at the start of the month.
From April 2026, the lower 3.3 percent prize fund rate and 1 in 23,000 odds will apply. For those reviewing their savings strategy in Greater Manchester and beyond, the next draw provides another reminder to balance security, flexibility and the chance of future Premium Bonds prizes against the certainty of fixed interest elsewhere.
Read More: NS&I Premium Bonds Winners: Two Lucky Holders Win £1 Million in November 2025 Draw
