UK Premium Bond holders who missed their monthly prize notification can still claim their winnings years later, National Savings and Investments (NS&I) has confirmed.
The government-backed savings product, which offers tax-free prizes rather than guaranteed interest, does not impose a time limit on unclaimed awards, meaning funds remain accessible to account holders indefinitely.
For the 23 million savers holding Premium Bonds, the lack of an expiry date adds a layer of security to the product, though it does not mitigate the underlying inflation risk.
The clarification follows a case highlighted by media reports where a saver received a £50 prize payment months after the original draw date.
While the specific instance involved a delayed notification, NS&I’s broader policy ensures that any prize credited to an account remains valid regardless of when the holder discovers it.
This stands in contrast to many commercial lottery or promotional schemes that enforce strict claim windows.
For the 23 million savers holding Premium Bonds, the lack of an expiry date adds a layer of security to the product, though it does not mitigate the underlying inflation risk.