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Premium Bonds continue to be one of the UK’s most popular tax-free savings options, offering a chance to win cash prizes instead of earning traditional interest.
Operated by National Savings & Investments (NS&I), the monthly Premium Bond draw determines winners through a government-backed random selection system.
Even as 2025 unfolds, many savers are still looking for the latest Premium Bond draw dates from 2024, whether to track their winnings or stay informed about past results.
With jackpots reaching up to £1 million, knowing the next Premium Bond draw date in 2024 is crucial for anyone holding bonds.
When is the Next Premium Bond Draw 2024?
NS&I conducts Premium Bond draws on the first working day of each month. Below is the full draw schedule for 2024:
| Month | Draw Date |
| January | 2nd January 2024 |
| February | 1st February 2024 |
| March | 1st March 2024 |
| April | 2nd April 2024 |
| May | 1st May 2024 |
| June | 3rd June 2024 |
| July | 1st July 2024 |
| August | 1st August 2024 |
| September | 2nd September 2024 |
| October | 1st October 2024 |
| November | 1st November 2024 |
| December | 2nd December 2024 |
Even though 2024 has passed, many savers in 2025 are still checking past results to confirm whether they have unclaimed prizes. If you haven’t checked your winnings yet, it’s worth reviewing the 2024 draw history through NS&I’s official platforms.
How Does the Premium Bond Draw Work in 2024?
The Premium Bond draw uses ERNIE (Electronic Random Number Indicator Equipment), a sophisticated system designed to generate truly random winning numbers. Here’s how the process works:
- Each £1 invested in Premium Bonds represents one unique bond number.
- ERNIE generates millions of random numbers each month to match existing bonds.
- Winning numbers are drawn and assigned to prize categories.
- Winners are notified via NS&I’s website, app, or by post.
This method ensures fairness and transparency, making Premium Bonds a trusted savings option in the UK.
What Are the Prize Tiers for the Premium Bond Draw?
Premium Bond prizes range from £25 to £1 million, with thousands of winners selected each month.
| Prize Amount | Number of Winners (Approx.) |
| £1,000,000 | 2 winners |
| £100,000 | Multiple winners |
| £50,000 | Multiple winners |
| £25,000 | Multiple winners |
| £10,000 | Multiple winners |
| £5,000 | Multiple winners |
| £1,000 | Thousands of winners |
| £500 | Thousands of winners |
| £100 | Thousands of winners |
| £50 | Thousands of winners |
| £25 | Hundreds of thousands of winners |
The total prize fund is based on NS&I’s interest rate decisions and changes periodically.
When Will the Next Premium Bond Winners Be Announced?
Although 2024 has ended, if you haven’t checked your results yet, you can still find past winning numbers through:
- NS&I’s website
- The NS&I mobile app (for instant result checking)
- Prize Checker Tool (available online for quick searches)
- Post or email notifications (for registered winners)
Winners of large prizes (£5,000 and above) receive direct confirmation from NS&I before the prize is paid.
What Are the Chances of Winning in the Next Premium Bond Draw?
Winning a Premium Bond prize is entirely based on random selection, meaning every bond has an equal chance in each draw, regardless of when it was purchased.
However, understanding the odds of winning can help bondholders set realistic expectations about their chances of securing a prize.
As of 2024, the odds of winning any prize with a single £1 bond stood at 1 in 21,000 per month. This probability is calculated based on the total prize fund and the number of eligible bonds in circulation at any given time.
How Do the Odds Impact Your Chances?
Since the draw is random, individual results may vary significantly, but here’s how the odds translate in practical terms:
- Holding More Bonds Increases Your Probability of Winning
- Each £1 invested in Premium Bonds represents a separate entry into the draw.
- The more bonds you own, the more entries you have, improving your overall likelihood of winning a prize.
- For example, if you hold £1,000 in Premium Bonds, you effectively have 1,000 separate chances of winning each month.
- Each Bond Has an Equal Chance, Regardless of When It Was Purchased
- Unlike lottery tickets that expire, Premium Bonds remain active indefinitely unless cashed in.
- A bond purchased in 1957 (when Premium Bonds launched) has the same chance of winning as a bond bought in 2024 or 2025.
- No bond is “too old” or “more likely to win” based on age alone.
- Jackpot Prizes Are Extremely Rare
- Each month, only two winners receive the £1 million jackpot, making it an incredibly exclusive prize.
- Compared to lower-tier prizes (£25, £50, £100, etc.), the odds of winning the jackpot are significantly smaller.
How Do These Odds Compare to Other Savings Options?
While Premium Bonds offer the excitement of a potential windfall, they are different from traditional savings accounts. Unlike a fixed interest savings account, where you receive guaranteed returns, Premium Bond holders rely on luck.
Here’s how they compare
| Savings Option | Potential Returns | Risk | Tax Benefits |
| Premium Bonds | Prize winnings (not guaranteed) | No capital loss, but no guaranteed income | 100% tax-free winnings |
| High-Interest Savings Account | Fixed interest rate | No risk | Interest may be taxable above allowance |
| Stocks & Shares | Market-dependent returns | High risk of capital loss | Some tax benefits through ISAs |
For some savers, the excitement of a potential big win makes Premium Bonds appealing, while others prefer the certainty of fixed interest in savings accounts.
Do the Odds Change Over Time?
Yes, the odds of winning can fluctuate depending on several factors, including:
- The number of bonds in circulation: If more people invest in Premium Bonds, competition increases.
- Interest rate decisions by NS&I: Changes in the prize fund allocation affect how many prizes are available.
- Government policy changes: Any updates to NS&I’s structure could impact future draws.
What Do the Odds Mean for 2025 and Beyond?
Even though 2024 has passed, Premium Bond holders in 2025 and beyond can still use these figures to assess their chances in upcoming draws.
The odds may be adjusted based on NS&I’s financial strategies, but the core principles remain the same more bonds equal more chances, and every bond is treated equally.
For those who haven’t yet checked their 2024 winnings, it’s still possible to do so via NS&I’s website or app.
And for those considering buying more Premium Bonds, understanding the odds can help them decide whether this savings option aligns with their financial goals.
How Can You Check the Results of the Premium Bond Draw?
If you haven’t checked your 2024 winnings yet, you can use the following options:
- NS&I Website: Enter your bond number to check past results.
- NS&I App: Download the app for quick access.
- Prize Checker Tool: A dedicated feature on NS&I’s site for finding previous winners.
- Paper Statements or Emails: If you opted for notifications from NS&I.
Unclaimed prizes remain valid indefinitely, so it’s always worth checking!
What Happens If You Win a Premium Bond Prize?
Winning a Premium Bond prize is an exciting moment, but what happens next? If you are one of the lucky winners, National Savings & Investments (NS&I) will process your prize payment using one of the following methods:
1. Bank Transfer (BACS) – Fast & Secure Payment
- If you have registered your Premium Bonds online, NS&I will automatically transfer the prize money to your nominated bank account.
- This is the quickest and safest way to receive winnings, as payments are processed electronically without delays.
- Winners receive an email notification confirming the deposit.
2. Reinvestment into More Premium Bonds – Keep Playing
- If you have chosen the auto-reinvestment option, NS&I will use your prize money to buy more Premium Bonds instead of paying it out.
- This method helps increase your chances of winning future prizes, as more bonds mean more entries into upcoming draws.
- The new bonds will be entered into the draw the following month after purchase.
3. Cheque – Traditional Postal Payment
- For winners who are not registered online, NS&I sends a cheque by post to their registered address.
- While this is a slower method, it remains a reliable option for those who prefer physical payments.
- The cheque must be deposited into a bank account before it can be accessed.
4. Jackpot Winners – Direct Contact & Extra Security
- If you win the £1 million jackpot, NS&I will contact you directly via telephone or post.
- For security reasons, they do not deposit large jackpot prizes automaticallywinners must first verify their identity.
- NS&I will arrange a personal visit to confirm the win and ensure the prize is received securely.
What If You Forget to Check Your Winnings?
- If you haven’t checked your results, your winnings will remain safe. Premium Bond prizes never expire, and NS&I holds funds until the owner claims them.
- You can check unclaimed prizes at any time using the NS&I website or app.
- If your address has changed or you lost track of old bonds, NS&I provides a search service to help you find any outstanding winnings.
Conclusion
Even though 2025 is now underway, many Premium Bond holders still need to check their 2024 results. The next Premium Bond draw in 2024 took place on the first working day of each month, offering tax-free cash prizes to thousands of winners.
For those who haven’t yet checked, it’s still possible to claim unclaimed winnings by using the NS&I website or app. With thousands of prizes awarded each month, it’s worth confirming whether you were a winner in any of the 2024 draws.
FAQs for When the Next Premium Bond Draw Is in 2024
How long do I have to claim my Premium Bond winnings?
There is no expiry date winnings can be claimed at any time.
Can I still check my Premium Bond results for 2024?
Yes, NS&I’s website and app allow you to view past draw results.
How are large Premium Bond winners notified?
NS&I directly contacts winners of £5,000 or more via post or phone.
Are Premium Bond prizes taxable?
No, all Premium Bond winnings are 100% tax-free in the UK.
Can I transfer my Premium Bonds to someone else?
No, Premium Bonds cannot be transferred, but they can be inherited.
What happens if I lose my Premium Bond number?
You can recover it through NS&I’s customer service.
Does holding older Premium Bonds reduce my chances of winning?
No, all bonds have an equal chance, regardless of when they were purchased.