When National Savings and Investments (NS&I) released the September 2025 Premium Bonds results on September 1, two savers from County Durham and Cumbria discovered they’d each cashed in a £1 million prize, instantly joining the ranks of the UK’s newest millionaires. The draw, run by the famed ERNIE system, paid out 6,026,999 prizes totalling £397,781,850 across more than 132 billion eligible bond numbers. Here’s why that matters for anyone with a few pounds tucked away in a Premium Bond savings pot.
- Two £1 million winners – one from County Durham (bond 224BZ74891) and one from Cumbria (bond 243VC581367).
- Overall prize fund rate for September 2025: 3.6%.
- Odds per £1 invested: 1 in 22,000.
- Total prizes: 6,026,999 worth £397.78 million.
- All winnings are free from UK Income Tax and Capital Gains Tax.
How the September 2025 draw unfolded
The monthly draw, officially titled September 2025 Premium Bonds prize drawUnited Kingdom, featured a staggering 132,593,956,732 eligible bond numbers. ERNIE – the Electronic Random Number Indicator Equipment that has been picking winners since June 1957 – generated a spectrum of prizes, from two £1 million jackpots down to 2,576,306 winners of £25.
In total, 76 people walked away with £100,000 each, 150 scooped £50,000, and thousands collected smaller sums. Small‑prize lovers weren’t left out either – 5,960,562 prizes (98.9% of the total) were £100 or less, keeping the excitement alive for the average saver.
Who the new millionaires are and what the win means
The Durham winner, whose bond number 224BZ74891 was bought in June 2014, held £50,000 in Premium Bonds at the time of the draw – the maximum amount that still qualifies for the full range of prize odds. Across the border, the Cumbria champion’s bond 243VC581367 was purchased in April 2015, also sitting at the £50,000 cap.
Both prizes are completely tax‑free, a perk that sets Premium Bonds apart from many traditional savings vehicles. That means the full £1 million lands in the winner’s bank account without a penny owed to HM Revenue & Customs.
Reactions from NS&I and consumer watchdogs
"Our members love the thrill of a monthly lottery combined with the security of a 100% guaranteed investment," said John Hutton, Chief Executive of National Savings and Investments. "The September draw underscores why Premium Bonds remain a staple for everyday savers across the country. The tax‑free nature of the winnings and the sheer volume of prizes keep the product fresh and appealing."
Which? magazine, which received the draw data a day early, highlighted the winners as a reminder that "big life‑changing moments can still happen with a modest £25 entry point". The publication also urged holders to check their numbers promptly via the official prize‑checker app, noting that unclaimed prizes can stack up quickly.
Premium Bonds in the broader savings landscape
With more than 24 million customers, Premium Bonds sit comfortably alongside ISAs and high‑interest savings accounts, but they play by a different rulebook. There’s no interest paid; instead, every £1 you hold is entered into the monthly draw. The prize fund rate – 3.6% for September 2025 – effectively acts as an average return for a saver with “average luck”. By contrast, a typical cash ISA might offer 3‑4% guaranteed interest, but that income is taxable once you exceed the personal allowance.
Historically, ERNIE has handed out over £37.9 billion in prizes since its first draw in 1957, with more than 784 million prizes awarded. The longevity of the scheme adds a layer of confidence: NS&I, an independent executive agency of the Chancellor of the Exchequer, backs every Premium Bond with 100% capital protection – a safety net that standard banks can’t match beyond the £85,000 Financial Services Compensation Scheme limit.
Kids aren’t left out either. In 2023, over 80,000 Premium Bond accounts were opened for under‑16s, meaning more than 800,000 children now hold bonds worth roughly £2.2 billion. Those junior savers shared in over one million prizes last year, collectively earning £80.9 million.
What’s next for savers?
Results became publicly accessible on September 2 via the NS&I prize‑checker app and the nsandi.com website. Holders need just their Premium Bonds holder number, NS&I number, or the specific bond number to see if they’ve won.
Meanwhile, the agency reports an unclaimed prize backlog: as of October 2025, 2,625,391 prizes totalling £109,014,425 have sat untouched for 18 months or more. An extra 804 prizes worth £34,150 belong to bondholders whose identities remain unknown. NS&I is urging anyone who thinks they might have a lingering win to log in and verify.
Looking ahead, the October draw will maintain the same 22,000‑to‑1 odds, with the prize fund rate expected to stay near 3.6% barring major market shifts. For those who enjoy the blend of low‑risk investment and lottery‑style excitement, the next month promises another round of anticipation.
Frequently Asked Questions
How does winning a Premium Bond prize affect taxes?
All Premium Bond winnings are completely exempt from UK Income Tax and Capital Gains Tax. Whether you win £25 or £1 million, the amount lands in your account tax‑free, which is a key advantage over many traditional savings products.
Who can claim a prize if I lose my bond number?
If you can’t locate your bond number, you can still claim a prize by providing your NS&I holder number and proof of identity. NS&I’s prize‑checker app will guide you through the verification process, and they’ll match any winnings to your account.
What are the odds of winning any prize?
For every £1 you invest, the chance of securing a prize in any given month is roughly 1 in 22,000. That translates to about a 0.005% probability each month, meaning the longer you hold bonds, the more chances you have to win.
Why do some prizes remain unclaimed for years?
Unclaimed prizes often stem from bondholders who have moved, changed contact details, or simply forgotten to check. NS&I keeps unclaimed funds in a dedicated account and periodically publishes lists to encourage owners to come forward before the prize is transferred to the Treasury’s unclaimed assets fund.
Can I purchase Premium Bonds for my children?
Yes. You can open a Premium Bond account for anyone under 16, and the bonds are held in the child’s name while you act as the guardian. This is a popular way for families to teach savings habits early on.