Premium Bonds holders issued urgent warning ahead of December draw

The National Savings and Investments are pushing any Brits with Premium Bonds to use 1 of 3 options to check if they have any historical winnings ahead of the final prize draw of the year. Every bond in the government-backed savings product has the potential to win up to £1million every month, with an estimated £87.3 million unclaimed in lost bonds.

There are three different ways Brits can check if their bonds have won any cash, as Dax Harkins, NS&I chief executive, reiterated: “Remember, the best way to check if you’ve won this month is by using our (prize checker) app, (NS&I) website, or Alexa.” You’ll need to have your Premium Bond holders number on-hand to use any of the prize checkers.

This number is usually either 9 or 10 digits or 8 digits followed by a letter and can be found through your online account and on any letters from the NS&I. However, if you can’t manage to find it you can contact the NS&I via phone call or writing to the NS&I requesting a replacement Bond record which will have your number.

The prize checkers can see how much your bonds have won this month or in the previous six draws, particularly highlighting any prizes you haven’t claimed yet. Premium Bond holders are also being urged to claim all of their past prizes and organise their accounts ahead of the changes in January 2025.

Andrew Westhead, NS&I Retail Director, said: "We carefully review our savings rates in response to changes in the broader market. These adjustments help us meet our Net Financing target while balancing the interests of our savers, taxpayers and the wider financial services sector. Premium Bonds remain a popular choice for millions of savers, backed by the 100% government guarantee, with the January 2025 draw set to deliver over 5.8 million tax-free prizes worth more than £431 million.”

The January prize draw will be the first to step down from 4.15% to 4% prize rate, this change was announced earlier this year in-line with shifts in the savings market at large. Additionally, some other NS&I products are also changing in the next monthly.

From December 20th, the interest rate on their Direct Saver offerings will be taking a similar step down on interest from 3.75% to 3.5%. The Income Bonds product also sees a slight dip on the same date going from 3.69% to 3.44%.