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NS&I has announced the Premium Bonds winners for the August draw including the two £1million jackpot winners.
The prize draw takes place at the start of each month with each £1 Bond that goes into the draw having an equal chance of being selected for a prize. There are always two £1million jackpot prizes on offer.
The first £1million jackpot goes to a person in Central Bedfordshire with winning Bond number 148YD123622, which they purchased in December 2008, when they bought £1,000 in Bonds. They previously had a total of £7,000 invested.
A lucky winner who lives in an overseas region won the other £1million big cash prize. Their winning Bond was number 205XQ030808, which they purchased in May 2013. They previously had the maximum holding amount of £50,000 in Premium Bonds.
Savers may want to note the prize fund rate is falling from the August draw, dropping from 3.8 percent down to 3.6 percent. This is the third time the rate has been cut this year, following reductions in January and in April.
Among the big cash prize winners for August was a person from Avon who won £25,000 for a Premium Bond they purchased over 65 years ago, in March 1958.
In contrast, one saver from Leeds took home a £100,000 prize for a winning Bond they purchased just a few months ago, in April 2025.
Many people set up their accounts so when they win a prize, the funds are used to buy more Bonds, so increasing their chances of winning again.
Despite the drop in the prize fund rate, the odds of each £1 winning will stay the same, at 22,000 to one. This means even those with low holdings stand a chance of bagging a big win.
In the August draw, one customer from Sefton who had just £100 in Bonds won £10,000. But the vast majority of the big prize winners had a five-figure investment, with many holding the maximum £50,000 in Bonds.
You can check if you have any prizes to collect using the prize checker tool on the NS&I website. With the latest rate drop, customers have been advised they may want to look at other savings options.
Tom Francis, head of Advice at Octopus Money, warned customers: “Premium Bonds are a fun, safe way to save, but if you’re serious about growing your money, they’re probably not the best place to park your cash.”
The finance expert warned there is a major drawback with the scheme: “The big problem is they don’t pay interest. So, unless you win a prize, and most people don’t, your money just sits there, quietly shrinking in value over time.
“Inflation is doing its thing in the background, and without interest to offset it, you’re effectively losing money the longer it sits.”
If you don’t win any prizes, the value of your holdings simply stays the same. But in this situation, your holdings are effectively losing value as the cost of living and other prices go up, eating into the purchasing power of your money.
