The adjustments to large cash Premium Bond prizes coming in for April’s draw

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Your assist makes all of the distinction. Learn extra Premium Bond holders will face lowered probabilities of successful prizes from the April draw, following adjustments introduced by financial savings big NS&I.

The Nationwide Financial savings and Investments prize fund price is about to lower from 3.60% to three.30%. Concurrently, the percentages of successful any prize will lengthen, shifting from 22,000 to at least one to 23,000 to at least one, NS&I confirmed.

Backed by the Treasury, NS&I acknowledged its obligation to stability the pursuits of its savers, taxpayers, and the market, alongside assembly annual targets for elevating internet finance for the federal government.

Andrew Westhead, NS&I retail director, mentioned: “This variation to the Premium Bonds prize fund price and odds displays adjustments within the wider financial savings market, and ensures we proceed to stability the pursuits of savers, taxpayers and the broader monetary companies sector.

“Premium Bonds proceed to be the preferred UK financial savings account.

“Having just lately handed £40 billion in prizes drawn, the April draw is predicted to have shut to 6 million tax-free prizes price round £375 million.

“Launched 70 years in the past in November 1956, Premium Bonds preserve their distinctive attraction by providing 100% safety, the pliability to withdraw simply and the joy of doubtless successful a tax-free prize every month.”

The Financial institution of England base price was lowered in December, in a blow to savers, and additional reductions are anticipated.

As an alternative of paying curiosity, Premium Bonds supply savers an annual prize fund price that funds the month-to-month draw for tax-free prizes.

Every £1 bond bought is entered right into a month-to-month draw, the place prizes vary from £25 to £1 million.

The estimated variety of £1 million prizes is about to stay unchanged in April, at two.

The estimated variety of £100,000 prizes is predicted to fall to 71 in April, from 78 in February.

<img src="https://static.independent.co.uk/2026/02/24/12/24113500-5516d4f9-e332-4e0e-960c-efe109c29e68.jpg" srcset="https://static.independent.co.uk/2026/02/24/12/24113500-5516d4f9-e332-4e0e-960c-efe109c29e68.jpg?quality=75&width=320&auto=webp 320w, https://static.independent.co.uk/2026/02/24/12/24113500-5516d4f9-e332-4e0e-960c-efe109c29e68.jpg?quality=75&width=640&auto=webp 640w" loading="lazy" alt="The total number of Premium Bond prizes in April will fall (NS&I/PA)" class="sc-1mc30lb-0 ggpMaE inline-gallery-btn"/> open picture in gallery

The overall variety of Premium Bond prizes in April will fall (NS&I/PA) (NS&I) NS&I additionally mentioned the variety of £50,000 prizes will fall from 154 in February to an estimated 143 in April.

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There will likely be round 284 prizes price £25,000 in April, down from 311 in February.

The estimated variety of £10,000 prizes will fall from 777 to 712 over the identical interval.

The variety of £25 prizes will go up, with round 2,806,003 predicted for April, in contrast with 2,643,007 in February.

The overall variety of prizes in April will likely be round 5,943,029, down from 6,183,066 in February.

Folks can maintain as much as £50,000 in Premium Bonds, together with these aged beneath 16.

9 out of 10 prizes are paid instantly into the holder’s nominated checking account or robotically reinvested into Premium Bonds to enter the following draw, NS&I mentioned.

New Premium Bond purchases have to be held for one full calendar month earlier than being entered into the month-to-month prize draw.

Laura Suter, director of non-public finance at AJ Bell, mentioned: “The Premium Bond ‘prize fund price’ is meant to provide savers some comparability with how the account compares to regular financial savings accounts.”

However she mentioned: “Clearly not everybody has ‘common’ luck, in any other case the prizes could be handed out equally to each saver.

“The truth that there are some very giant prizes additionally skews the figures.”

Ms Suter added: “Savers with cash in Premium Bonds ought to actually take into consideration whether or not the account is true for them.

“Contemplating many Premium Bond holders won't ever win a prize and the common anticipated return is decrease than the highest easy accessibility account, savers might nicely be higher off with a assured return elsewhere.

“Regardless of rate of interest cuts, these accounts are nonetheless prone to proceed to be extremely popular as they're backed by NS&I, and lots of savers have large model loyalty to the organisation.”