How To Claim Premium Bonds – Unlike other savings products, no traditional interest is earned on Premium Bonds, instead savers sign up for a lottery which could see people win up to £1m. In August, two men from Dorset and Buckinghamshire won £1 million, one of whom bought the bonds only last year. Dorset’s award-winning bond is worth £20,000 and will only be redeemed in August 2021.

By comparison, a winner in Buckimghsire held £875 in Premium bonds and bought their bonds in April 2009.

How To Claim Premium Bonds

How To Claim Premium Bonds

Accordingly, many savers are looking to see how they can claim their cash prize from the NS&I Lottery.

Callable (or Redeemable) Bond Types, Example, Pros & Cons

High-value bondholders can use the bonus checker to find their bonus in the August bonus draw.

Winners are usually notified by NS&I once they’ve been paid, but sometimes people miss out on winnings.

As a result, if they decide to receive their winnings by check, the money goes unclaimed.

Jill Waters, NS&I’s retail director, praised both winners and noted that it was never “too late” for a bondholder to take home the £1m prize.

Strikes Mean I Won’t Get My £5,000 Premium Bond Prize In Time For Christmas’

“It’s not too late to book the summer vacation of a lifetime with their newfound wind.

“One of this month’s winners has waited 12 months to be awarded and another has waited more than 13 years.

“I’m sure they were both equally excited by the news and no doubt felt the irresistible magic of Premium Bonds.”

How To Claim Premium Bonds

Recently, NS&I increased its inflation rate from 1% to 1.40%.

Premium Bonds: £1million Winner Purchased Bond Just Last Year

Inflation in the UK is now at its highest level in decades at 9.4% and could reach 12% in the coming months.

Before the latest rate hike, the odds of winning a bonus for each £1 Premium Bond number were one in 34,500.

The odds have now changed to Rs 24,500 for savers following the decision of the savings bank.

This means that bondholders, like August’s winners from Dorset and Buckinghamshire, will be in with a chance of taking the hat home.

Where Are The £1million Premium Bond Winners? Two People Have Bagged Life Changing Prizes… But Haven’t Claimed Them

Any NS&I customer who believes they have an unclaimed premium bond award can check using NS&I’s online award checker or the award checker app.

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How To Claim Premium Bonds

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View today’s front and back pages, download newspapers, order issues and access historical daily newspaper archives. The easiest way to sell or cash out your NS&I Premium Bond is to log into your account online, as this is 24 hours.

If you’ve applied for a bond online, you’ll already be registered and should have your details to hand.

Once you’re logged into your account, you should see an option to “Define Premium Bonds” on the right side of the screen. We have converted it in the screenshot below.

From there, choose whether you want to cash out on your oldest bond first, and then whether you want to delay cashing out until your next bonus draw.

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This option obviously means you have to wait until the beginning of next month to get your refund. If you choose to withdraw now, NS&I says the money will arrive in your designated bank account within three business days, but usually a little sooner.

Again, if you purchased your bond online, your bank information should already be in the system, so you don’t need to do anything else.

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How To Claim Premium Bonds

If you don’t like the online option, you can easily cash out your NS&I Premium Bonds via the NS&I phone service.

How To Check (and Cash In) Your Premium Bonds

If you haven’t applied for a Premium Bond online or by phone, you can get your money by filling out the Premium Bond Cash Form.

Click the relevant box in the third section of the table and select how many bonds you want to purchase.

If you want to cash out a specific set of your Bond numbers, enter the first Premium Bond number from each range.

If you click No or leave blank in section four, NS&I will cash out your oldest bonds first.

Unclaimed Premium Bonds: Have You Won A Prize Already?

The sixth section of the form specifies how you want the bond to be paid.

You can choose to write directly from your account directly to your account or via a check-like guarantee.

NS&I says it usually takes eight working days from the time we receive your application.

How To Claim Premium Bonds

If you don’t have the funds at that time, it’s best to contact NS&I, preferably by calling 08085 007 007. Texting and emailing are security risks. Find out more about contacting NS&I here.

More Than £61million Unclaimed Premium Bond Prizes

After cashing in your bonds, not sure where to put your savings? Take a look at our comprehensive roundup of getting the best value for your money.

If you’re not selling bonds right away, it’s worth considering when it’s time to divest some or all of your holdings.

It is worth waiting until the beginning of the new calendar month, not the last week of the month.

This way you can ensure you get the last win in the monthly draw before withdrawing your shares. The initial bond offers savers the safety of a government-backed bank, tax-free returns and a £1m win-win. every month.

Why It’s Time To Ditch Your Premium Bonds

Instead of paying interest, National Savings and Investments (NS&I) offers high-yielding bondholders the chance to win cash prizes of up to £1 million a month.

You can own up to £50,000 worth of premium bonds. Each bond costs £1 and you need to hold at least 25 to be eligible for the draw.

Bond premiums are rising, now at 4.65pc, following a series of hikes to the Bank of England’s key interest rate.

How To Claim Premium Bonds

Since the first draw in June 1957, Ernie has handed out 637 million prizes worth a total of £26.8 billion.

Selling Premium Bonds: Best And Easiest Ways To Cash Them In And Withdraw Your Money

This is useful because if you are a basic rate taxpayer and save money in an ordinary (non-Isa) savings account, you must pay interest on more than £1,000 a year, or £500 if you pay tax. A higher tax rate.

The winners were “You win!” Receives an email with the happy subject line. This information does not reveal the amount, however, so you should check with NS&I to see if you can start planning a luxury vacation or drinking a series of drinks at a bar.

No need to save email. On the second working day of the month, you can log into your online account and use the Rewards Checker app or an Alexa-enabled device to see if you’ve won any prizes ranging from £25 to £100,000.

If you’re one of two lucky winners this month, you’ll be visited live by Agent Millions – an individual recruited by NS&I to find the winners and notify them of their £1m prize.

Premium Bonds: How Do You Buy Them And What Are The Chances Of Winning?

Potential agents will be notified on the first business day of the month, 24 hours prior to the announcement of the overall prize draw results.

Higher prize winners with prizes of £10,000 or more will be sent a prize claim form here so you can specify where and how you want the prize to be paid out. You can choose to reinvest your winnings into more bonds (up to a maximum of £50,000) and increase your chances of winning again, or pay directly into your bank account.

Although prize bond winners are notified when they win, sometimes people move or change their contact information without notifying NS&I.

How To Claim Premium Bonds

You can check NS&I’s availability using the online bonus checker or the bonus checker app – you’ll need your bondholder number. If you don’t know your owner’s number but think you have an overpriced bond, you can use NS&I’s tracking service.

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More than £80m of senior bond bonuses are still waiting to be paid. The oldest lost prize, worth £25, was won in 1957.

There are now 2,300, 820 unclaimed prizes of up to £100,000. The South East alone has more than £10m of unclaimed awards.

Hundreds of thousands have arisen where NS&I authorities do not know the correct details – perhaps they have moved abroad.

There is a risk that the real value of insurance bonds will decline over time because you may not win, and inflation will erode their relative value.

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And there’s always the prospect of a big (free) bonus, or even an agent paying millions

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