The treatment of your Premium Bonds will depend on whether you are a basic or a higher rate tax payer. If you are a higher rate tax payer and you receive net interest (that is, tax is deducted before you receive your interest), then you do indeed have a responsibility to declare your investment on your self assessment.
How do I find out if my premium bonds are held?
*If you know your Premium Bond holder’s number, you can go to the prize checker section on the NS&I website or download the prize checker app – at the App store and on Google Play. If you own Amazon Alexa, there’s a Premium Bonds prize checker skill there too.
Is NS&I linked to HMRC?
NS&I savings and investments are backed by HM Treasury, which means any money you invest is 100% safe.
Are Premium Bonds better than savings account?
Premium Bonds are the UK’s biggest savings product, with more than 21 million people saving over £107 BILLION in them. Yet the prize rate was slashed in December 2020 – so is it still the right thing to do?…
| Number of bonds | Median average winnings | Equiv. prize rate |
|---|---|---|
| £10,000 | £75 | 0.75% |
| £16,000 | £150 | 0.94% |
| £21,500 | £200 | 0.93% |
What are the disadvantages of premium bonds?
Premium bonds: the cons
- No interest. Unless you win a pay-out in the monthly prize draw, you won’t see a return on your investment.
- Extremely low odds. If you expect a guaranteed win, premium bonds aren’t for you.
- No regular income. There’s a chance you’ll only earn a small percentage of the amount you’ve invested.
Do Premium Bonds die with you?
After a person has passed away, their Premium Bonds can stay in the prize draw for a total of 12 months. Once NS&I has been informed of a person’s death, any prizes won are to be paid by prize warrant to the person entitled to the money after a claim has been completed.
Can I cash a premium bond Cheque at the post office?
You can pay in cash and cheques at any branch of the Post Office.
Can I check old premium bond numbers online?
The easiest way to check is online. You can check the latest results, bond numbers from the past six months of unclaimed prizes. Alternatively, you can write to NS&I asking for your prize history, remembering to include your name, address and either your NS&I or Premium Bonds holder’s number.
