Savers urged to claim £100m in Premium Bond prizes
In total, 2.5 million prizes remain unclaimed, including 11 pots worth £100,000 – the second-largest offering. Experts have warned 'an enormous stack of cash is sitting gathering dust'.
Premium Bonds are the country's most popular savings accounts, and prizes are awarded in a monthly lottery. Two savers win £1m every month.
The scheme, operated by National Savings and Investments (NS&I), was established in 1956. The government-backed bank said 99pc of prizes have been paid out since its inception.
It added that sometimes families change address without updating their details. However, experts have warned savers that Premium Bonds are 'a game of chance'.
Nearly 23 million people had accounts worth a combined £130bn in March 2025. Despite this, two in three savers have never won a penny from their Premium Bonds.
More than 14.3 million savers have not won a prize since 1994, a Freedom of Information request by AJ Bell revealed. Only five million of the 22.5 million holders won a prize between March 2024 and February this year.
Caitlyn Eastell, of Moneyfactscompare.co.uk, said: 'While Premium Bonds are a fun, unconventional way to win some tax-free cash, the reality is that it is a game of chance, and the majority of savers may not even win a prize.
'They sometimes also rely on investors claiming these prizes, meaning there is currently over £100m left unclaimed. To avoid missing out on any winnings, it is crucial that savers keep their contact details up to date.
'There is no need to panic if savers have forgotten or lost their Premium Bonds. Any unclaimed prizes can be easily checked using NS&I online prize checker or the prize checker app using a unique holder or NS&I number.'
The prize rate is currently 3.6pc, which 'doesn't even outpace inflation', Ms Eastell added.
Last year, £1.7m was inherited by families after 11,000 winners died before they could receive their money, NS&I figures show.
Sarah Coles, of Hargreaves Lansdown, said: 'A major part of the problem is that people don't know to search for them. Even if they think they may have Premium Bonds, they often don't know how to look for them. It can also take some time, which is frustrating if you need the money quickly.
'There's an enormous stack of cash sitting in NS&I vaults gathering dust.'
Wills and probate solicitor, Patrice Lawrence, told the BBC: 'It's shocking that a government-owned bank is sitting on nearly £100m that doesn't belong to it during a cost of living crisis.'
An NS&I spokesman said: 'Opting to have Premium Bonds prizes paid directly into a bank account or reinvested into more Premium Bonds reduces the chances of prizes going unclaimed. Nine in 10 prizes are already paid this way.
'We want to reunite Premium Bonds holders with their winnings and would encourage people to use our prize checker app, the help available online and through our call centre on how to trace their funds.'
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