By Islam El-Sakka
Millions of UK savers are awaiting the November Premium Bonds prize draw, which takes place on Monday, 2 November 2026. Results will be released a day later via the National Savings and Investments (NS&I) website and app.
Draw Details and Odds
The government-backed scheme now has 22 million participants holding more than £137 billion. Each £1 bond carries a 22,000-to-1 chance of winning, with prizes ranging from £25 to £1 million. Two £1 million jackpots are awarded at every monthly draw. The minimum investment is £25 and the maximum is £50,000. Unlike regular savings accounts, Premium Bonds pay no interest; instead, a random number generator known as Ernie selects winning numbers each month.
Prize Distribution
The distribution of prizes varies slightly each month. In January 2026, the draw produced two £1 million prizes, 77 prizes of £100,000, 156 of £50,000, 309 of £25,000, 773 of £10,000, 1,548 of £5,000, 16,276 of £1,000, 48,828 of £500, 1,731,056 each of £100 and £50, and 2,635,562 prizes of £25.
How to Check Results
Savers can check if they have won by entering their bond numbers on the NS&I prize checker website or through the NS&I mobile app.
Expert Analysis
Money expert Martin Lewis calculated that the effective interest rate on Premium Bonds is 3.8 per cent when all winnings are averaged out. However, he noted that most holders will not see returns near that level, and many standard savings accounts currently offer higher, more consistent rates.
