Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

£105m in Premium Bond prizes unclaimed – including 11 jackpots worth £100,000

by August 6, 2025
August 6, 2025
£105m in Premium Bond prizes unclaimed – including 11 jackpots worth £100,000

More than £105 million in Premium Bond prizes remains unclaimed by savers across the UK, with 2.6 million prizes still waiting to be collected — including 11 worth £100,000, according to new figures from National Savings and Investments (NS&I).

The Treasury-backed savings institution confirmed that over 140 of the unclaimed prizes are valued at £10,000 or more, while the majority — more than 1.8 million — are for the minimum £25 prize.

Alongside the 11 unclaimed £100,000 prizes, there are also 19 prizes worth £50,000, 38 of £25,000, and 75 of £10,000 that have yet to be claimed by their lucky winners.

Are you one of the 2.6 million missing out?

Premium Bonds function like a lottery. Each £1 bond is assigned a unique number entered into monthly prize draws, with winnings ranging from £25 to two £1 million jackpots each month. All prizes are tax-free.

Prizes are classified as “unclaimed” if they remain untouched after 18 months, although there is no time limit on claiming. Some data in NS&I’s records goes back to 1957, when Premium Bonds were first introduced.

According to NS&I, many savers have their winnings automatically reinvested into more Premium Bonds (up to the £50,000 per person limit), or paid directly into a nominated bank account. Those with these systems in place are unlikely to have any unclaimed prizes.

However, the most common reason for unclaimed prizes is outdated contact details, particularly where cheques have been returned due to customers moving house without updating their NS&I records.

“Eleven people in the UK have £100,000 with their name on it, just sitting, collecting dust,” said Sarah Coles, head of personal finance at Hargreaves Lansdown.

“It really is worth checking whether you’ve already won big. It’s not just Premium Bonds — vast sums in savings, investments and pensions go astray this way. Admin is kryptonite for many people.”

How to check if you’re owed money

NS&I encourages anyone unsure whether they still hold Premium Bonds to use its free tracing service. Bondholders can check using:
• The NS&I website
• The NS&I app
• A printed tracing form
• A letter with personal details submitted by post

If your details are up to date, NS&I will contact you if you win a prize. If not, you may have to initiate the tracing process.

You can also use the My Lost Account service, operated by NS&I in partnership with UK Finance and the Building Societies Association, to locate forgotten accounts and savings. However, this process can take up to 90 days.

“These processes can take time and require a lot of personal details, especially for older accounts,” said Coles. “Bear in mind that some of these date back nearly 70 years.”

Are Premium Bonds worth it?

Premium Bonds offer an “effective interest rate” — the average return based on all prizes awarded. This currently stands at 3.6%, having been cut from 3.8% for the August draw. However, this rate is skewed by larger prizes. Many bondholders may win nothing at all, particularly if they hold small amounts.

Other easy-access savings accounts offer higher guaranteed returns, including Chip at 5% (first year only) and Trading 212’s Cash ISA at 4.87%, both of which offer tax-free interest.

However, for higher earners or those who have maxed out their ISA allowance (£20,000) and personal savings allowance, Premium Bonds remain a tax-efficient option.

Basic-rate taxpayers can earn up to £1,000 in interest tax-free; higher-rate taxpayers can earn £500; additional-rate taxpayers receive no savings allowance, making Premium Bonds a useful tool for sheltering cash from tax.

Read more:
£105m in Premium Bond prizes unclaimed – including 11 jackpots worth £100,000

0
FacebookTwitterGoogle +Pinterest
previous post
Why Are There Many New Online Casinos in Canada? Expert Opinion
next post
Neil Woodford fined £46m and banned from senior City roles over fund collapse

You may also like

16-24-year-olds see employment jobs spike as living costs...

February 14, 2023

Are you looking for the best assignment help...

November 21, 2024

Next profits top £1bn for the first time,...

March 27, 2025

1 in 5 people believe their company is...

December 12, 2022

Ten construction firms fined total £60m for ‘illegally...

March 24, 2023

Lancaster University spinout wins major backing to revolutionise...

February 6, 2025

Respect the menopause or be sued for disability...

February 22, 2024

Elon Musk Concedes X’s Uncertain Future as Glitch...

August 21, 2023

Why Talking to a Real Travel Agent Still...

June 14, 2025

Tesco to Revamp Clubcard Branding Following Loss to...

March 19, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • New Cato Paper: Immigrants Cut Victimization Rates, Boost Crime Reporting

      August 26, 2025
    • ‘Dr. Strangelove with a mustache’: Bolton blasted for ‘profiteering’ off US secrets by White House advisor

      August 26, 2025
    • Fighter pilots take directions from AI in Pentagon’s groundbreaking test

      August 26, 2025
    • A Paper Tiger on Burning Flags? Not So Fast

      August 26, 2025
    • Britain’s top philanthropist Sir Chris Hohn condemns ‘cruel’ foreign aid cuts

      August 26, 2025
    • Rachel Reeves’ inheritance tax plans branded “daft” as experts warn grandparents could become “overnight tax evaders”

      August 26, 2025

    Categories

    • Business (8,886)
    • Investing (2,241)
    • Politics (16,490)
    • Stocks (3,228)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved