The NS & I Premium Savings Bonds have become popular over recent years. This is because the interest rates on savings accounts have plummeted and stocks, and shares have become increasingly volatile. Premium Bond holders are entered into a monthly prize-draw to win a cash prizes, including a million-pound first prize. This article explains where to find a premium bond checker.
The premium bond
The premium bond is part of the range of investments and savings products which are offered by the UK Government. Other than inflation, there are no deductions made from your investment in premium bonds. Moreover, as NS&I (National Savings and Investments UK) is backed by HM Treasury, you can be reasonably confident that the money invested in these Government bonds are secure investments. Every investor is given national savings bonds that have unique premium bond numbers. These numbers are then, entered into a monthly draw. The winning numbers are chosen by a machine called ERNIE (Electronic Random Number Indicator Equipment). Premium bond prizes range from numerous £25 cheques to a £1 million grand prize. Investors are given the option of providing bank account details in which prize winnings can be automatically transferred to. This means that anyone holding the premium bond winning numbers can be confident that they will receive their prize if they win.
Where to find bond checkers
Once purchased, these investment bonds can be checked online. The easiest way to do this is to visit the premium bonds homepage, Nsandi.com, and use the online premium bonds checker. Simply enter your holder number in this prize finder and you will be shown any due winnings. If you find some old bonds tucked away in a drawer, you can also check these numbers on the same site. The current chance of winning a prize for every pound invested is quoted as 24,000 to 1 although, the odds fluctuate, depending on prevalent rates and the total amount invested each month. If you would like a more personalised quote, you can use one of the savings bond calculators which are provided on websites (but are not attached to NS&I). These probability calculators can tell you what is the likely rate of return for your investment. A savings bonds calculator for the National Savings UK premium bonds can be found at Moneysavingexpert.com.