Overview
- NS&I announced on Tuesday that the Premium Bonds prize-fund rate will rise to 4.35% for the September 2026 draw and the odds of a £1 bond winning will shorten from 22,000 to 21,000 to one.
- The monthly prize pot is estimated to increase by about £63 million, creating roughly 308,000 additional prizes and lifting total prizes to more than 6.5 million for September.
- NS&I will keep two £1 million monthly jackpots unchanged while increasing many higher-value prize tiers and reducing the number of £25 prizes from an estimated 2,289,959 to 1,717,659.
- Separate rate rises take effect immediately for variable products, with Direct Saver and Income Bonds at about 3.75% and new one- to five-year British Savings Bonds paying roughly 4.82%–4.85% depending on term.
- The package is aimed at drawing money into the Treasury-backed provider—which has more than 22 million bondholders—to help meet a reported £15 billion net financing goal while offering a tax-free, government-guaranteed alternative to higher guaranteed market rates.