Premium Bonds Prize Rate and Odds
Premium Bonds pay tax-free prizes from a monthly draw instead of interest. These are the current prize fund rate, odds and holding limits.
Annual prize fund rate
4.35%
Variable. It sets the total paid out in prizes, not what each holder earns; most holders receive less than this rate.
NS&I · since 1 Sep 2026 · checked 30 Sep 2026
Odds of each £1 Bond winning a prize each month
21,000 to 1
NS&I · since 1 Sep 2026 · checked 30 Sep 2026
What's changed
- 1 September 2026 Odds of each £1 Bond winning a prize each month fell from 22,000 to 1 to 21,000 to 1.
- 1 September 2026 Annual prize fund rate rose from 3.8% to 4.35%.