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The number of £10,000 prizes is forecast to increase from 827 to 954

More than 22 million Premium Bonds holders will have a better chance of winning from September as NS&I adds around £63million to its monthly prize pot.

The government-backed savings provider is also increasing rates on its Direct Saver, Income Bonds and British Savings Bonds, giving hundreds of thousands of customers a boost from today.

The Premium Bonds prize fund rate will rise from 3.80 per cent to 4.35 per cent tax-free for the September 2026 draw.

More than 6.5 million prizes worth over £497million are expected to be available, representing more than 308,000 additional prizes compared with August.

The chances of each £1 Bond winning will also improve, with the odds moving from 22,000 to one to 21,000 to one.

It marks the second time this year that NS&I has increased the Premium Bonds prize fund rate and improved the odds, following an earlier boost in July 2026.

The number of prizes is forecast to rise from 6,224,837 in August to 6,533,031 in September. Their combined value will increase from £433,663,575 to an estimated £497,326,725.

Two £1million jackpots will continue to be offered each month.

Andrew Westhead, NS&I retail director, said: "This is the second time this year we have been able to increase Premium Bonds prize fund rate and shorten the odds.

"The September Premium Bonds draw is now expected to have more than 6.5 million tax-free prizes worth over £497 million.

"Premium Bonds continue to offer over 22 million savers of all ages the monthly excitement of tax-free prizes with 100 per cent security backed by HM Treasury, and the flexibility to withdraw at any time."

The number of £100,000 prizes is expected to rise from 83 in August to 95 in September, giving savers 12 additional chances to win the six-figure sum.

There are also expected to be 192 prizes worth £50,000, up from 165, while the number of £25,000 prizes will rise from 331 to 382.

The number of £10,000 prizes is forecast to increase from 827 to 954, while £5,000 prizes will climb from 1,654 to 1,909.

At the £1,000 level, the number of prizes is expected to rise from 17,347 to 19,892. The number of £500 prizes will increase from 52,041 to 59,676.

Both the £100 and £50 prize tiers are set to grow significantly. Each tier is forecast to rise from 1,931,214 prizes in August to 2,366,135 in September.

However, the number of £25 prizes, the smallest Premium Bonds award available, is expected to fall from 2,289,959 to 1,717,659.

Alongside the Premium Bonds boost, around 428,000 Direct Saver customers will see their variable interest rate rise to 3.75 per cent gross/AER from today.

Approximately 222,000 Income Bonds customers will receive a new rate of 3.69 per cent gross, equivalent to 3.75 per cent AER.

NS&I is also raising rates across all available terms of its British Savings Bonds, covering one, two, three and five-year fixed-term Guaranteed Growth Bonds and Guaranteed Income Bonds.

The improved rates will be available to new customers and existing savers whose Bonds are reaching the end of their term.

Customers with Bonds maturing from August 18 will automatically receive the higher rates. The new issues replace those that went on sale on July 31.

Mr Westhead 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."