NS&I has issued a warning about a looming deadline for people who want to buy Premium Bonds.
A customer got in touch with the provider over X to ask: “If I was to buy some Premium Bonds, what’s the latest I can buy to qualify for the end of the month?”
The savings giant said in response: “Premium Bonds need to be held for a full calendar month before being eligible for a draw.
“The next available draw for newly purchased Bonds is October – to be eligible for the October draw, the latest you can purchase the Bonds to do so would be 31 August.”
A person can buy Bonds online, over the phone or by post. You need to purchase at least £25 worth when buying Bonds.
Each £1 Bond eligible to go into the monthly prize draw has an equal chance of winning a prize, including one of the jackpot prizes for £1million.
Savers will often choose to use their winnings to buy more Bonds, so increasing their chances of winning again.
The prize fund rate for Premium Bonds is currently 4.4 percent with the odds of winning at 21,000 to one.
Another saver recently contacted NS&I for help as they were getting set up online.
They asked: “Just received my letter with my NS&I number (I have just registered for the online and phone service), but I need to set up my password for the account. How do I go about doing this?”
NS&I replied to explain the process. The group said: “You will also receive your temporary password in the post, this won’t be far behind your NS&I number.
“Once you have received your temporary password, you will be able to log in online and create your own password.”
You can check if you have any prizes to collect using the prize checker tool on the NS&I website.
A person can hold up to £50,000 in Premium Bonds and can cash in their savings at any time.
