NS&I have reduced the prize fund rate slightly, down to 3.8% from 4.0% starting in April 2025. This calculator has been updated to reflect this new rate.
Your Investment
Winnings Each Month
In each draw, you'll need to be luckier than 63% of savers to win a prize.Median Annual Winnings
£300 Over one year, with average luck, you'd win £300.Median Interest Rate
3.00% £300 is equivalent to earning interest at a rate of 3.00%.Mean Number of Prizes
5.5 On average, you'll win 5.5 prizes per year.Jackpot Chance
1 in 542,118 This is your chance of winning the £1,000,000 jackpot over a year.Over a year, you have an 80% chance of winning between £125 and £575 (1.25% and 5.75%).
About Premium Bonds
NS&I's Premium Bonds savings vehicle is unusual – it doesn't pay interest. Instead, savers purchase £1 bonds which are entered into a draw on the first of each month. NS&I publish a headline “annual prize fund interest rate” (from April 2025, 3.8%) but because of the way prizes are allocated most savers will not achieve this rate.
This website estimates an equivalent interest rate which you can use to compare Premium Bonds against other savings accounts or investments.
- The amount you earn will vary depending on luck. The charts shown above give you an estimate of how much you might win with poor luck, and how much you might win with good luck. It is possible to win even less or even more than these figures.
- The more you invest, the closer you'll get to the published rate of 3.8%, and the less luck plays a role. To earn a more predictable interest rate approaching 3.8% you'll need to win the rarer, higher-value prizes. The bigger your investment, the more of these you'll win.
- One individual can invest up to £50,000. Some parents go beyond this limit by buying bonds for themselves and for their children. This website can calculate results for investments up to £200,000.
- Premium Bonds winnings are tax-free. Most people can earn £1,000 in interest before paying tax anyway, but this is reduced if you are a higher-rate taxpayer.
- These calculations are based on NS&I's published prize draw breakdown for the April 2025 draw.