Premium Bonds holders will see a boost to the prize fund rate to 4.35%, up from 3.80%, for the September 2026 draw.
At the same time, holders will have more chances to win, with the odds shortening to 21,000 to 1 from 22,000 to 1.
Compared to the August draw, it is estimated that there will be more than 308,000 further prizes in the September draw, with the prize pot increasing by around £63m to over £497m.
In September, there are expected to be 12 additional £100,000 prizes, 27 more £50,000 prizes and an extra 51 £25,000 prizes. Also, there will be more than 2.3m £100 prizes – more than 6.5m prizes in total.
The Premium Bonds prize fund rate and odds were last improved in July 2026.
Premium Bonds
Current prize fund rate (from July 2026) | Current odds (from July 2026) | New prize fund rate (from September 2026) | New odds (from September 2026) |
3.80% tax-free | 22,000 to 1 | 4.35% tax-free | 21,000 to 1 |
Source: NS&I
NS&I has also increased interest rates on Direct Saver and Income Bonds and increased British Savings Bonds (Guaranteed Growth, and Guaranteed Income Bonds) interest rates across all term lengths.
From today, NS&I customers will see increases to the variable interest rate for savings they hold in Direct Saver (3.75% gross/AER) and Income Bonds (3.69% gross/3.75% AER). The rates were last increased in May 2026.
Both new and existing customers with maturing British Savings Bonds will benefit from new fixed-term Issues with improved interest rates from today. Interest rates have been increased for 1, 2, 3 and 5-year fixed-term Guaranteed Growth Bonds (GGB) and Guaranteed Income Bonds (GIB). Customers with Bonds maturing from 18 August will automatically get the new rate. These replace the Issues that went on sale on 31 July this year.
Variable rate savings products – Direct Saver and Income Bonds
Product | Previous interest rate (from 14 May 2026) | New interest rate from 18 August 2026 |
Direct Saver | 3.45% gross/AER | 3.75% gross/AER |
Income Bonds | 3.40% gross/3.45% AER | 3.69% gross/3.75% AER |
Source: NS&I
Fixed-rate savings products – British Savings Bonds
Product | Previous interest rate (from 31 July 2026) | New interest rate from 18 August 2026 (on general sale) |
Guaranteed Growth Bonds 1-year (Issue 92) | 4.72% gross/AER | 4.82% gross/AER |
Guaranteed Income Bonds 1-year (Issue 92) | 4.63% gross/4.72% AER | 4.72% gross/4.82% AER |
Guaranteed Growth Bonds 2-year (Issue 80) | 4.70% gross/AER | 4.81% gross/AER |
Guaranteed Income Bonds 2-year (Issue 80) | 4.61% gross/4.70% AER | 4.71% gross/4.81% AER |
Guaranteed Growth Bonds 3-year (Issue 82) | 4.68% gross/AER | 4.83% gross/AER |
Guaranteed Income Bonds 3-year (Issue 82) | 4.59% gross/4.68% AER | 4.73% gross/4.83% AER |
Guaranteed Growth Bonds 5-year (Issue 74) | 4.75% gross/AER | 4.85% gross/AER |
Guaranteed Income Bonds 5-year (Issue 74) | 4.65% gross/4.75% AER | 4.75% gross/4.85% AER |
Source: NS&I
Andrew Westhead, NS&I retail director, said: "Not only is NS&I boosting Premium Bonds from September, but from today we are also increasing interest rates for our British Savings Bonds, plus our Direct Saver and Income Bonds. This is to ensure we reflect current market conditions and help to meet our Net Financing target.”
NS&I’s unaudited results for the first quarter (April-June 2026) of the financial year 2026-27 show that NS&I delivered £1bn of Net Financing to the Government.
The Spring Forecast in March 2026 set NS&I’s Net Financing target for 2026-27 at £15bn (+/- £4 billion), £2bn higher than the target for 2025-26.