First up is Mr. J from Outer London, who won the first £1 million prize. His winning bond number is 625QS449602, if you want to stare at it and feel a tiny bit jealous. The second million went to Mrs. J from West Sussex, with bond number 673SF314937. I bet she owns a nice cat and a sensible car.
Here’s the wild part: forty-four people won £100,000. That’s a lot of people suddenly reconsidering their avocado toast budget. And 1,084,553 people won £25, which is basically enough for a nice meal out if you skip the starter. The government paid out £354 million in April prizes, which is more than the GDP of some small tropical islands.
Why the drop? (A financial soap opera)
NS&I cut the prize fund rate because Bank of England base rates have been sliding—down from 5.25% to 4.5% since last year. Think of it as the financial version of your favorite TV show getting canceled after a cliffhanger. The prize rate is now 3.8%, which means fewer high-value prizes and more of those disappointing £25 wins that feel like a participation trophy.
But wait—here’s a shocking twist: over 24 million people still hold Premium Bonds. That’s more than the entire population of Australia! And yet, the average return is about 3.8% before tax, which is actually worse than a simple savings account paying 4.5% interest. So why do we do it? Because the dream of a million quid is a powerful drug, my friends.
Premium Bonds: Everything you need to know as NS&I releases winning
