Premium Bonds savers urged to do simple check that could earn you £100,000 boost

There are 2.4 million unclaimed prizes up for grabs.

By Nicholas Dawson, Finance Reporter based in London, covering personal finance with a focus on the state pension and retirement planning.

A man checks his bills

There are millions of pounds in unclaimed Premium Bonds prizes (Image: GETTY)

Premium Bonds savers have been urged to check if they have any unclaimed prizes as winnings worth £100,000 are yet to be collected.

Figures from NS&I show there are six unclaimed £100,000 prizes yet to be taken home by their rightful owner as well as 10 prizes for £50,000.

A total of 2.4 million prizes are sitting in the lost property pot and have yet to be collected by the lucky winners.

Four of the six £100,000 prizes belong to UK residents with one of them being as recent as the January 2023 draw, according to This is Money.

One of the big money winners is from Gwent Valleys in Wales while another one belongs to a customer from Gloucestershire.

Among the unclaimed prizes are 18 prizes for £25,000 prizes, 50 for £10,000 and 107 unclaimed £5,000 prizes.

The majority of the unclaimed cash prizes belong to people who live overseas or who have no known postcode.

Figures from provider NS&I indicate there are 346,713 unclaimed Premium Bonds prizes that belong to customers who live overseas, which is 14 percent of all the unclaimed prizes.

A couple check their bills

There are millions of pounds in unclaimed Premium Bonds prizes (Image: GETTY)

The second area with the most unclaimed prizes is the South East, with 318,807 unclaimed prizes amounting to £11,286,925.

You can check if you have any Premium Bonds prizes to collect using the prize checker tool on the NS&I website.

There is also the option to check via the app or with an Alexa-enabled device.

Savers often choose to reinvest their Premium Bonds winnings, so increasing their chances of winning again.

A person can hold up to £50,000 in Premium Bonds and each time you purchase more, you will need to buy at least £25 worth.

The prize fund rate for Premium Bonds is currently 4.4 percent with the odds of winning at 21,000 to one.

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