NS&I has explained some key points on how the prize draw works
NS&I has clarified a crucial date for a customer who reached out with a question. Their query, submitted via X on August 7, was: “It’s 7th of the month now and you still haven’t paid Premium Bond winnings from 1st of the month. How much interest does each day’s delay make you?”
With the prize draw occurring at the beginning of each month, every £1 Bond is equally likely to be drawn for a prize. NS&I responded by stating: “Premium Bonds prize winnings are paid into your nominated bank account by the seventh working day of the month. This month the seventh working day is the 9 August.”
Bond holders can find out if they’ve won anything using NS&I’s prize checker on their website. Now is a good time to check as there are unclaimed prizes worth £100,000 and £50,000 according to recent data.
Each draw includes two top prizes of £1million, along with millions of other prizes ranging from £25 to £100,000. The current prize fund rate stands at 4.4 percent, with the odds of any single Bond winning set at 21,000 to one.
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In another case, an individual approached NS&I about the difficulty in locating some old Premium Bonds. He communicated to the institution over X that these Bonds were purchased many years ago under various family members’ names and addresses.
He said: ” I can give all the names and addresses, but marrying them to the right bonds is pretty impossible.” NS&I responded by saying: “We only allow people to run a trace for Bonds held in their own name. If there are any Bonds that are held in someone else’s name, it would be that person’s responsibility to run a trace for themselves.”
They added that individuals can fill out an online form on the NS&I website to try and locate any lost savings.