Overview

• NS&I has reduced the Premium Bonds prize fund rate to 3.8% as of April 2025, with odds of winning set at 22,000 to 1.
• Financial experts, including Charlene Young of AJ Bell, warn that the chances of winning significant prizes, such as £1 million, are extremely low.
• Over £127.7 billion is currently held in Premium Bonds, generating no guaranteed returns for savers.
• Higher-yield savings options, including tax-free ISAs offering rates above 4.5%, are widely available in the market.
• NS&I forecasts over £411 million in tax-free prizes to be distributed in the April 2025 draw, despite the rate reduction.