The winners are from Kirklees and Sheffield, while 82 other bond holders received the next-best prize of £100,000.
Both winners had bonds valued at far more than the average holding of £5,700. But is it always those with the largest holdings that win the jackpot?
Here, Which? reveals this month's winning bond numbers and analyses whether savers with smaller investments may be better off putting their money elsewhere.
February 2025 premium bond winners
The first winning bond (150EN423722) was bought by a lucky winner living in Kirklees, and is part of a total holding of £50,000. The bond was bought in January 2009.
The second winner, from Sheffield, bought their bond (513EP525664) in September 2022. They have a total holding of £10,000.
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:How many winners were drawn in February?
There were 5,864,354 premium bond prizes paid out in the February 2025 draw. Of these, 5,792,509 were worth £100 or less.
In total, this month's prizes were worth £430,052,425.
The odds of winning with a small holding
The prospect of becoming an overnight millionaire is the main reason why people buy premium bonds. However, the odds of it actually happening are tiny. Indeed, the chance of each £1 bond winning a prize of any value in the monthly draw is just 1 in 22,000.
There is only one way to increase your chances of winning: buy more bonds. The minimum value of bonds you can purchase is £25 but the more you invest, the greater your chances of walking away with a prize.
You have a 1 in 643,640,000 chance of bagging the £1m prize with a holding of £100, but those odds jump to 1 in 1,287,277 with the maximum holding of £50,000, according to NS&I. With those odds, it's perhaps no surprise that 42% of jackpot winners over the last year had the maximum holding.
There have only ever been 12 jackpot winners with holdings worth £1,000 or less. The most recent was in January 2015, when someone with £400 in bonds became a millionaire.
Only one person has ever won the jackpot with £25 or less in bonds. The winner, from Newham in London, held just £17 in premium bonds. The lucky bond was bought in February 1959 and, incredibly, didn't win the £1m prize until July 2004.
Savers with the largest holdings also have a much greater chance of winning any prize in the draw. There is a 1 in 880 chance of walking away with a cash reward if you have £25 worth of premium bonds, but those with £50,000 are almost guaranteed to get something, with odds of 1 in 1.11.
Find out more:Best savings accounts to open with £100 or less
If you only have a small amount of cash to tuck away, you might be better off opening a savings account that pays guaranteed interest on your investment rather than relying on luck to get a decent return.
Many providers are offering products that you can open with a small deposit, with some as low as £1. Rates are slowly falling, but you can still find a top deal offering almost 5% AER.
Below are the best rates available across several types of savings accounts and cash Isas, all of which can be opened with £100 or less. We've excluded deals that come with opening restrictions, for example requiring you to already have a bank account with the provider.
Choosing a savings account
The best option for someone who only has a small opening deposit – and wants to build their savings pot gradually – is an instant access savings or Isa account.
The top rates on both these types of accounts are well above the average on 1 January 2025, which was 2.89% AER for a traditional instant access and 3.03% for an instant-access cash Isa.
Remember, instant-access accounts have variable rates that the bank or building society can change whenever they want. Opening a fixed-term account, however, will guarantee you the same rate for the duration of the term.
The downside is that you usually only get a couple of weeks to add to the account, after which it is locked to any new deposits or withdrawals until the term is up.
Fixed-term Isas also give you a set timeframe to deposit money but offer slightly more flexibility on withdrawals. But there is usually a penalty – such as loss of interest – if you withdraw money or close the account early.
Having a smaller amount to invest also means your choice of accounts is more limited. For example, there are currently only 11 one-year fixed-term products that allow you to open with £1 or less, and just two four-year fixed-term bonds offering such a low initial deposit.
It's also slim pickings for cash Isa savers with smaller pots. Which? Recommended Provider Zopa is the only bank offering a four-year fixed-term cash Isa with a minimum investment of less than £100.
Find out more:source https://www.which.co.uk/news/article/februarys-premium-bond-winners-revealed-aNLt93K6deEU