Premium Bonds Calculator
A free Premium Bonds prize calculator: enter your holding to see your expected annual prize, your chance of winning, and whether Premium Bonds beat a normal savings account — instantly, in your browser.
Expected prizes per year (tax-free, average)
£0
— equivalent tax-free rate
Typical year — what you’re most likely to get
£0
median luck, mostly £25 prizes — usually below the average
Estimated prizes per year
0
≈ £25 each at median luck
Chance of winning ≥1 prize this month
0%
Chance of winning ≥1 prize in a year
0%
Next NS&I draw: loading…
Rates used: prize-fund rate 3.80% AER, odds 1 in 22,000 per £1 per month (from the July 2026 draw (was 3.30% / 1-in-23,000 to June 2026)). Verified 2026-06-10 · Source: NS&I. Always re-check current figures before relying on them.
👉 Want your exact odds of winning? See Premium Bonds odds by holding — your chance of winning at least one prize for every holding from £100 to £50,000.
How the Premium Bonds calculator works
Premium Bonds don’t pay interest. Instead, every £1 bond is entered into a monthly prize draw. The prize-fund rate tells you the average amount paid out across all bonds in a year. This calculator uses that rate to estimate your expected annual prize, then uses the per-bond odds to estimate your chance of actually winning something.
Why most people win less than the “average”
A handful of very large prizes (including two £1 million jackpots each month) pull the average up. That means the typical outcome — the median — is usually lower than the headline expected figure, especially for smaller holdings. Treat the expected prize as a best-case average, not a guarantee.
How this Premium Bonds prize calculator works out your prizes
Because Premium Bonds pay no interest, a prize calculator can only estimate your likely winnings from two published NS&I figures: the annual prize-fund rate (currently 3.80%) and the per-bond odds (1 in 22,000 each month). Your expected annual prize is simply your holding multiplied by the prize-fund rate. Here is what that looks like across common holdings:
| Premium Bonds holding | Expected annual prize (average, tax-free) |
|---|---|
| £1,000 | ≈ £38 a year |
| £5,000 | ≈ £190 a year |
| £10,000 | ≈ £380 a year |
| £25,000 | ≈ £950 a year |
| £50,000 | ≈ £1,900 a year |
These are long-run averages at today’s rate, not a prediction for any single year. Enter your exact holding in the calculator above for your own figure — and remember the typical (median) result is usually lower than the average, because a handful of large prizes pull the mean up.
Frequently asked questions
How much can I expect to win with Premium Bonds?
On average, the prize fund pays around 3.80% a year (tax-free). So £10,000 in bonds would expect roughly £380 in prizes over a year — but because a few big prizes pull the average up, most people win less than this "average".
What are the odds of winning with Premium Bonds?
Each £1 bond has about a 1 in 22,000 chance of winning a prize in each monthly draw. The more bonds you hold, the higher your chance of winning at least one prize.
Is the Premium Bonds prize tax-free?
Yes. All Premium Bonds prizes are free of UK Income Tax and Capital Gains Tax. That is why the expected return is best compared against the after-tax interest of a normal savings account.
When is the next Premium Bonds draw?
NS&I runs a prize draw at the start of every month. Bonds must have been held for a full calendar month before they are eligible.
Can this tool check if I have won?
No. Checking actual winnings requires NS&I’s official records. Use the official NS&I prize checker for that. This tool only estimates odds and expected value from published rates.
How to check if you’ve won
This calculator estimates odds and expected prizes — it cannot tell you whether you personally have won, because only NS&I holds the winning numbers. To check your actual prizes, use the official tools:
- NS&I Premium Bonds prize checker — enter your holder’s number to see this month’s prizes.
- The official NS&I app (iOS / Android) checks and notifies you each month.
We are not affiliated with NS&I; these links are provided for your convenience only.