National Savings and Investment (NS&I) has revealed the lucky winners for July 2025's Premium Bonds prize draw, with two savers taking home the £1million jackpot.
Unlike traditional savings accounts, Premium Bonds do not accrue interest in a traditional way with bond holders enrolled in a monthly prize draw.
Customers are given the opportunity to win up to £1million through the prize draw with other cash prizes of up to £100,000, £50,000 and £25,000 also up for grabs.
Smaller cash prizes are also available through the NS&I product, however Premium Bonds has become well known for the jackpot prize worth £1million.
Who won July's £1million prize?
Two lucky Premium Bonds holders from Norwich and Nottingham have each scooped £1 million tax-free in July's prize draw.
The first winning bond, 224LR913240, belongs to a saver in Norwich who holds the maximum £50,000.
Their winning bond was purchased in June 2014, and this marks the fifth millionaire made in the region.
The second winner, from Nottingham, holds £49,100 in total.
Their winning bond, 083EP714276, was bought in October 1997. This is the 11th jackpot win for the area.
The Premium Bonds winners for July 2025 have been announced
GETTY/NS&I;The jackpot winners were picked by ERNIE, the Government’s Electronic Random Number Indicator Equipment, which selects prize winners each month from over 24 million Premium Bond holders.
NS&I’s Retail Director, Andrew Westhead, said: "Congratulations to both of our £1 million jackpot winners from Norwich and Nottingham, we hope they enjoy deciding how to make the most of their winnings.
"This month, more than 5.9 million prizes worth over £417 million have been drawn, including 80 people who’ve won £100,000. The quickest way to check if you’ve won is by using our prize checker app, visiting nsandi.com or asking your Alexa-enabled device from July 2.
One £50,000 prize from the December 2023 draw is still yet to be claimed by a bond holder from Norwich.
Premium Bonds holders can check to see if they have won a prize via the Premium Bonds prize checker app NSIWith just £25 to get started, bond holders can top-up easily online or by bank transfer, whether it’s for themselves or a child.
Every £1 saved gives another chance to win tax-free prizes in the monthly prize draw, making it a fun and exciting way to stay on track with savings goals.
However Tom Francis, Head of Digital Advice at Octopus Money, said: "Premium Bonds give you a chance to win big – but it’s a slim one, and you’ll likely be left waiting."
Octopus Money research found that Premium Bond holders wait an average of 3.5 years before they win a penny, and the odds are skewed towards those with the biggest holdings: 94 per cent of jackpot winners held over £10,000.
He said: "If you have failed to win month after month, it might be time to think about where else you could put your money to make it work harder for you. Cash ISAs deliver reliable returns, while for many a Stocks and Share ISA can be a great first step into investing."
This latest draw follows NS&I's latest announcement that the Premium Bonds prize fund rate will be cut within months.
The prize fund rate will be reduced from 3.8 per cent to 3.6 per cent from the August 2025 prize draw.
The change means there will be fewer high-value tax-free prizes available however, the odds of winning stay the same.
Premium bonds: 82 people won the £100,000 prize in July's prize draw
GETTYJuly 2025 Premium Bonds Prize Draw Breakdown
In the July 2025 draw, a total of 5,995,712 prizes will be paid out, worth £417,701,175. The draw included 131,905,631,906 eligible Bond numbers.
Since ERNIE’s first draw in June 1957, over 772 million prizes have been awarded, totalling £37 billion in payouts.
This month’s prize breakdown includes:
- 2 prizes of £1,000,000
- 80 prizes of £100,000
- 158 prizes of £50,000
- 318 prizes of £25,000
- 797 prizes of £10,000
- 1,590 prizes of £5,000
- 16,708 prizes of £1,000
- 50,124 prizes of £500
- 1,860,128 prizes of £100
- 1,860,128 prizes of £50
- 2,205,679 prizes of £25
In total, £417.7 million is being distributed to nearly six million lucky Bond holders in July.
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