Overview

• NS&I’s annual prize fund rate stands at 3.6% after cuts this year, including a reduction from 3.8% for the August draw.
• The chance of a win is about 22,000 to one per £1 bond, with an average wait of roughly 3.5 years to win anything.
• Large payouts remain rare and tilted toward bigger holders, with 94% of £1 million winners over the past five years holding more than £10,000 in bonds.
• Advisers say many savers would likely earn more from cash ISAs or competitive savings accounts, noting Premium Bonds’ capital security but weak expected growth.
• The next draw is Wednesday 1 October, with results released the following day and checkable via NS&I’s website or app.