The prize fund rate for Premium Bonds will be cut from 4.00% to 3.80% for the April 2025 draw, with odds of winning remaining at 22,000 to 1, NS&I has announced today.
This will be disappointing news for the 24 million plus Premium Bond holders but the move isn’t surprising following the recent base rate cut and is in line with the general downwards movement of interest rates in the UK savings market.
The April 2025 Premium Bonds draw is expected to have over £411 million in the prize fund with more than 5.9 million prizes, ranging from two £1 million prizes to over 2.1 million £25 prizes.
| Current prize fund rate (from January 2025) | Current odds (from December 2024) | New prize fund rate (from April 2025) | Odds from April 2025 (no change) |
| 4.00% tax-free | 22,000 to 1 | 3.80% tax-free | 22,000 to 1 |
Number and value of Premium Bonds prizes
| Value of prizes | Number and total value of prizes in February 2025 | Number and total value of prizes in April 2025 (estimate) |
| £1,000,000 | 2 | 2 |
| £100,000 | 82 | 78 |
| £50,000 | 164 | 157 |
| £25,000 | 328 | 313 |
| £10,000 | 820 | 781 |
| £5,000 | 1,641 | 1,565 |
| £1,000 | 17,202 | 16,445 |
| £500 | 51,606 | 49,335 |
| £100 | 1,992,297 | 1,830,825 |
| £50 | 1,992,297 | 1,830,825 |
| £25 | 1,807,915 | 2,170,903 |
| Total: | Total 5,864,354 prizes £430,052,425 | Total 5,901,229 prizes £411,118,825 |
