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May's premium bond winners – are you more likely to win with other prize draws?
NS&I isn't the only provider offering competitions that reward savers
Two lucky premium bond holders have become millionaires after winning the jackpot in the National Savings & Investments (NS&I) May draw.
The £1m winners are from Derbyshire and Suffolk. Meanwhile, 79 other winners bagged the next-best prize of £100,000.
If you've never won a penny since buying premium bonds, you might be tempted to try your luck elsewhere. Santander, for example, has just launched a competition giving customers the chance to win Formula 1 tickets this summer. It's not a cash prize, but it could still appeal if you're a fan of the sport.
Here, Which? reveals the winning bond numbers and checks out how alternative prize draws compare.
May premium bond winners
The first winning bond (462DR240519) was bought by a lucky winner living in Derbyshire, and is part of a total holding of £25,361. The bond was bought in July 2021.
The second winner, from Suffolk, bought their bond (300ZZ346515) in April 2017. They have a total holding of £35,000.
Which? is sent the details of the premium bond jackpot winners and prize draw data the day before full results are made available to all premium bond holders via the app and online.
- Find out more: best savings rates 2025
How many winners were drawn in May?
There were 5,941,150 premium bond prizes paid out in the May 2025 draw. Of these, 5,872,009 were worth £100 or less.
In total, this month's prizes were worth £413,900,125.
| Value of prize | Number of prizes |
|---|---|
| £1,000,000 | 2 |
| £100,000 | 79 |
| £50,000 | 157 |
| £25,000 | 315 |
| £10,000 | 789 |
| £5,000 | 1,575 |
| £1,000 | 16,556 |
Source: NS&I
- Find out more: should I get premium bonds?
How do other prize draws compare?
The number of high-value premium bond prizes dropped last month after NS&I cut the prize fund rate for the second time this year. Although there are still two £1m jackpot prizes up for grabs, the chances of winning anything remain very slim at just 22,000 to 1.
New AJ Bell analysis of NS&I data found that two thirds of current premium bond holders have never won a penny. But if you're open to different kinds of prizes - from cash to experiences - there are a few alternative draws you can enter by opening a savings or current account.
1. Chip Prize Savings Account
What is it? The Chip Prize Savings Account functions like an instant-access saver account, but instead of earning interest on your savings, you earn entries into the prize draw. Each month, there is £75,000 in prizes, with the top prize worth £10,000.
How do you enter? Every £10 you deposit into the prize savings account is worth one entry into the prize draw, and you must have at least £100 deposited by the end of the month.
How much can you win? The prizes can vary month to month, but there will always be a minimum of one £10,000 prize, plus 2,651 smaller prizes of £100, £50, £25 and £10. With each entry, you have a 1 in 1,616 chance of winning a prize. Like premium bonds, your odds are boosted the more entries you have.
Is it available throughout the UK? Yes, you must be a permanent resident in the United Kingdom.
Other terms? Savers need to be 18 or over to open an account. There is a limit of 8,500 entries per month (equivalent to £85,000) and a limit of one prize savings account per customer. £85,000 is also the maximum you can deposit in the account. Note that the Prize Savings Account doesn't pay any interest.
2. Halifax/Bank of Scotland savers draw
What is it? Every month, £550,000 worth of prizes are handed out to those who maintain a total savings balance of at least £5,000.
How do you enter? Hold at least £5,000 of savings in any qualifying account for a full calendar month. These include all Halifax savings and Isa deals, excluding accounts for children, as well as most Bank of Scotland branded savings accounts.
How much can you win? There are 1,514 prizes for grabs each month: three of £100,000, 100 of £1,000 and 1,500 of £100. The odds of winning vary depending on how many customers satisfy the eligibility criteria but, on average, 1,603 people walk away with a cash prize each month.
Is it available throughout the UK? No, it's only available in England, Scotland and Wales. Northern Ireland previously had different rules that meant customers there were unable to take part. The law has now changed, and Halifax says it will let customers know if they are eligible in the future.
Other terms? Any savings in joint accounts will be split equally, and account holders will need to register separately. Entrants must be aged 18 or over.
3. Coventry Building Society Sunny Day Saver Prize Draw
What is it? There are 20 winners for each prize draw, held in the second week of each calendar month. Winnings are tax-free, but any interest earned in the savings account may be subject to income tax.
How do you enter? To qualify, you must open a Sunny Day Saver account – a regular saver paying 6% AER that converts to an instant-access product after 12 months. The minimum balance is £1, and you can deposit up to £150 per month. However, you will only be eligible to take part in the lottery-style event if you’ve added at least £10 within the calendar month preceding the prize draw date.
How much can you win? There are 20 cash prizes up for grabs each month: one of £500, five of £200 and 14 of £50 (paid into your Sunny Day Saver account).
Is it available throughout the UK? The account is available across the UK.
Other terms? You must be 18 to apply for the account and can only be named on one Sunny Day Saver, whether the account is opened in sole or joint names.
4. Santander F1 ticket prize draw
What is it? Santander is offering new and existing customers the chance to win tickets to the Formula 1 British Grand Prix at Silverstone from 4 to 6 July.
How do you enter? You'll need to have a current or savings account and opt in to the prize draw before 31 May 2025. The winners will be selected at random on or before 13 June 2025. Winners will be notified by telephone before 20 June 2025.
How much can you win? There are 12 prizes up for grabs in total: nine pairs of British GP Grandstand tickets and three pairs of tickets to the event, including access to the Paddock Club lounge.
Is it available throughout the UK? Yes, you must be a permanent resident in the United Kingdom.
Other terms? You must be over 18 and hold a combined balance of more than £100 across your current or savings account on 31 May 2025. You must also still have your account open on 13 June, when the winners are announced.
