Two lucky savers become millionaires in November premium bonds draw — Could you be next?

For millions of UK savers, the start of a new month brings excitement and anticipation — the announcement of the latest Premium Bonds winners. In the November 2025 draw, two individuals have joined the exclusive club of million-pound winners, taking home the top prize in the government-backed savings scheme.

According to National Savings and Investments (NS&I), this month’s jackpot winners hail from Shropshire and York. The first winner, holding bond number 258GE105589, purchased their winning bond in October 2015 and had an overall savings of £50,000. The second winner, bond number 568FY679677, also had £50,000 invested, with their winning bond purchased in February 2024.

Each month, millions of hopeful savers wait for “Ernie” — short for Electronic Random Number Indicator Equipment — to generate the winning numbers. Ernie is the digital randomizer responsible for selecting prizes ranging from £25 to £1 million. The odds of any individual £1 bond winning a prize stand at roughly 1 in 22,000.

Currently, more than 24 million Britons are invested in Premium Bonds, collectively holding over £127 billion. This makes it the UK’s largest savings product — a blend of national trust, nostalgia, and the thrill of luck-based returns.

Unlike traditional savings accounts, Premium Bonds don’t pay interest. Instead, all eligible bonds are entered into a monthly draw. While some savers enjoy tax-free prizes, others may go months or even years without a single win. However, because it’s a government-backed investment, there’s no risk of losing your initial deposit — a feature that continues to attract both cautious investors and thrill-seeking savers.

Financial expert Martin Lewis has described the effective “interest rate” for Premium Bonds as approximately 4% when total winnings are averaged out. However, he notes that “most people won’t experience this rate personally,” as returns are not evenly distributed. Many UK banks and building societies currently offer higher guaranteed rates for savers seeking steady growth.

The distribution of prizes for January 2025 serves as a useful snapshot:

• £1 million x 2

• £100,000 x 82

• £50,000 x 163

• £25,000 x 328

• £10,000 x 818

  
  
  

• £5,000 x 1,636

• £1,000 x 17,163

• £500 x 51,489

• £100 x 1,987,844

  
  
  

• £50 x 1,987,844

• £25 x 1,803,871

Those eager to check whether they’ve won a prize can do so easily through the NS&I prize checker on the official website or via the NS&I mobile app. You’ll need your holder’s number or NS&I account number to find out if your bonds brought you a windfall this month.

Despite the slim odds, Premium Bonds remain a cherished part of British saving culture — offering not just financial hope, but a monthly dose of excitement. With the next draw set for early December, millions are already wondering: could Ernie pick their number next?

FAQs

1. What are Premium Bonds?
Premium Bonds are a UK government-backed savings product from NS&I that replaces traditional interest with a monthly prize draw.

2. How much can I invest?
You can invest a minimum of £25 and a maximum of £50,000.

3. Are Premium Bonds safe?
Yes. They’re 100% backed by the UK government, meaning your capital is completely secure.

4. How often are winners announced?
Every month. The draw typically takes place on the first working day of the month.

5. What are the odds of winning?
Each £1 bond has a 1 in 22,000 chance of winning a prize each month.