Latest news with #NationalSavings
Telegraph
28-05-2025
- Business
- Telegraph
NS&I paid out £4k to wrong person
National Savings and Investments (NS&I) mistakenly paid out £4,300 to a grieving man after mixing up two accounts with the same name and birthday. The recipient, known only as Mr S, was sent the cash after the death of a loved one, only for NS&I to realise it belonged to someone else and demand it back. He was offered £350 in redress, but complained to the Financial Ombudsman Service after it caused him a 'significant amount of stress at a difficult time'. The situation began after a woman, known as Ms S, passed away. As her sole beneficiary and the co-executor of her estate, Mr S discovered she had a premium bonds certificate. He contacted NS&I with copies of her will and certificates showing her birth, marriage and death, requesting to transfer the money to his own premium bond account. When NS&I responded, it confirmed another £4,300 in bonds were held in her name and sent the funds in December 2023. The bank had not realised the money belonged to another Ms S with the same first name, surname and date of birth. After uncovering the error three months later, the bank demanded that the money be returned.
Daily Mail
20-05-2025
- Business
- Daily Mail
With the NS&I prize rate set to fall again - SYLVIA MORRIS reveals the savings deals you CAN bank on
Premium bond holders are likely to hear bad news soon. Another cut to the prize rate seems inevitable – and I think it could come as early as the July draw. That is because savings providers are cutting interest rates on their variable rate accounts in their droves, which makes National Savings & Investments (NS&I) offerings look particularly favourable by comparison. The NS&I prize rate has been reduced several times – from 4.4 per cent to 4.15 per cent in December last year, 4 per cent in January and 3.8 per cent last month. But even so, the prize rate is now above the interest rate offered by the big High Street banks and five largest building societies on their easy-access accounts. The one exception is Yorkshire BS Online Easy Access Saver 4, which will pay 4 per cent after its rate cut on June 19. When savings rates tumble elsewhere, NS&I must follow suit. It needs to raise more money for the Government – £12 billion for this financial year which started on April 1, up from £10 billion last year, both with a margin of £4 billion each side. But if its products look too enticing, it risks overshooting its target. Furthermore, if it gives savers a better rate than they can get elsewhere, it upsets the mortgage market as money rushes into NS&I rather than into banks and building societies to lend to home buyers. The prize fund will be in the firing line because Premium Bonds are NS&I's best seller making up 55 per cent of the £230 billion or more we hold with the Government-sponsored savings arm. Even though the prize draw fund has fallen over the past 12 months, we still ploughed another £6.5 billion into Premium Bonds. They have been a favourite with some savers lured by the chance of winning the £1 million tax-free jackpot each month or even a smaller prize from a meagre £25 to £100,000. Granted, some easy-access accounts from NS&I's rivals still pay well over 4 per cent. The best is from online bank Cahoot, part of Santander, which pays 5 per cent. But it only offers this on the first £3,000 in the account and the rate could drop soon. Atom Reward pays 4.75 per cent but only if your money remains untouched for 12 months. With Coventry BS, you can see 4.5 per cent in its 4 Access Saver, but you only get this rate if you don't take money out more than four times a year. I don't include these in my best buy tables but instead concentrate on those that give you easy access to your money. The best rate with no strings attached comes from Family BS with its Online Saver at 4.55 per cent – launched yesterday. Kent Reliance pays 4.46 per cent for new customers only. If you have an older account, the rate is likely to be less. ISA loyalty may prove costly tactic Don't fall into the trap of simply renewing your one-year fixed-rate bond or Isa with the same provider. Rates on these accounts change all the time. This time last year, 18 providers were paying 5 per cent or more. Some of these now pay mediocre rates at best to those who renew their bonds. New names such as Chetwood Bank (4.36 per cent), Birmingham Bank (4.36 per cent) and JN Bank (4.35 per cent) pay top rates. Meanwhile, those such as Stream, Beehive, Allica Bank, MBNA (part of Lloyds) and OakNorth have slid down the ladder, paying between 3.8 per cent (Nottingham) and 4.1 per cent (MBNA).
Express Tribune
05-04-2025
- Business
- Express Tribune
Rs750 prize bond draw date for April 2025 announced
Listen to article Prize bonds continue to be a popular investment choice for millions of Pakistanis, providing a secure way to save money with the added opportunity of winning large cash prizes. Since the 1960s, the Central Directorate of National Savings (CDNS) has managed the scheme in partnership with the central bank, offering citizens a way to protect their funds from devaluation. The prize bond system serves two main objectives: raising funds for the government while giving people an accessible, low-risk savings option. National Savings conducts quarterly draws, where bondholders have the chance to win cash prizes based on their bond numbers. Next draws In 2025, the prize bond draws are scheduled to take place on four dates throughout the year. The first draw was held on January 15, with the next one set for April 15. Following this, two more draws will be conducted in July and October. The details of the draw for April 15, 2025, are as follows: Prizes and Amounts: First Prize : Rs 1,500,000 (1 winner) Second Prize : Rs 500,000 (3 winners) Third Prize: Rs 9,300 (1,696 winners) Prize bond 2025 schedule On January 1, the National Savings Division released the schedule for the 2025 prize bond draws, including those for national and premium bonds. The upcoming draws are as follows: Rs. 1,500 Prize Bond Draws: February 17, 2025 (Monday) – Multan May 15, 2025 (Thursday) – Karachi August 15, 2025 (Friday) – Faisalabad November 17, 2025 (Monday) – Rawalpindi Rs. 750 Prize Bond Draws: January 15, 2025 (Monday) – Karachi April 15, 2025 (Tuesday) – Peshawar July 15, 2025 (Tuesday) – Rawalpindi October 15, 2025 (Wednesday) – Muzaffarabad Rs. 200 Prize Bond Draws: March 17, 2025 (Monday) – Faisalabad June 16, 2025 (Monday) – Quetta September 15, 2025 (Monday) – Multan December 15, 2025 (Monday) – Lahore Rs. 100 Prize Bond Draws:
Express Tribune
22-03-2025
- Business
- Express Tribune
CDNS resumes its Islamic window operations, NA told
PTA said the CDNS will ensure immediate, uninterrupted and automatic blocking of illegal content. PHOTO: REUTERS/FILE Minister of State for Railways Bilal Azhar Kayani, addressing a Calling Attention Notice, confirmed that the Central Directorate of National Savings (CDNS) had resumed its Islamic Window Operations in November 2024. The notice was raised by Ms. Aliya Kamran to draw the attention of the Finance and Revenue Department to an urgent public concern regarding the non-implementation of National Savings schemes in compliance with Islamic Shariah, which has caused significant distress among the public.
Express Tribune
11-03-2025
- Business
- Express Tribune
Rs25,000 prize bond winners for March 2025 draw announced; complete list
Listen to article The National Savings Division conducted the balloting for the Rs25,000 prize bond on March 10, 2025 in Muzaffarabad. According to the results, the first prize was awarded to bond numbers 862446 and 887434, with each winner receiving Rs30 million. The second prize, valued at Rs1 million each, was granted to five lucky bondholders holding numbers 248068, 493905, 747331, 866955, and 919237. Additionally, 700 winners secured the third prize, with each receiving Rs300,000. The prize bond draw, held at the National Savings Centre Muzaffarabad, is part of the government's initiative to encourage savings and investment. Winners can claim their prizes by submitting their original prize bond and valid identification at designated National Savings branches. Moreover, the draw for the Rs40,000 premium prize bond (Draw No. 32) was held on March 10, 2025, in Quetta. Rs 25,000 prize bond winners complete list 000852 086179 159651 227241 303890 395023 470479 005168 086862 163864 227825 305305 395626 471745 009113 089693 166165 230070 305309 397526 473878 011199 090916 169794 230494 305790 398740 477563 011516 091258 171514 231211 306929 401152 479495 011783 094548 172483 235247 309043 401281 481615 016551 098791 173419 236409 309814 404148 482820 017075 101185 175027 237028 309854 406981 483714 017130 102376 175614 237359 314604 407626 484178 017334 103723 175625 237725 316169 407769 486518 021264 104278 176478 238948 321478 409873 486532 021387 104550 177095 239613 321652 412798 488165 021759 105028 177128 241422 326423 414641 490433 022889 106353 178000 242266 326581 415252 490655 023516 107055 178287 244896 331652 416279 491716 028048 107738 178491 246770 333706 417096 491822 028886 107787 183054 248258 335252 418559 493438 029557 108343 187290 249701 337889 419762 496336 030008 109098 187813 254606 337920 419899 498899 030698 109522 187874 254945 340753 420563 499475 032552 109978 187952 257801 343132 423547 499750 034108 110790 188331 261380 343856 425362 500282 034260 112571 189277 262583 347230 426563 502828 036499 115544 190560 262915 348023 427996 504427 038037 118928 190721 263230 350764 432562 504762 039180 123563 193452 263618 351201 433547 504997 040401 125915 197274 264209 351430 435129 506774 045257 127335 197794 265075 352981 437563 510443 047739 129409 198232 266614 354204 438878 511609 050669 130030 198849 267355 355421 441281 511815 051026 130202 199194 269794 355925 442209 512151 051034 131312 200686 269852 358342 443006 513182 052887 131781 201263 270852 359396 444475 513523 053774 131798 201945 271486 359798 444982 514161 054306 132491 202758 274598 360928 446536 514364 055578 133951 202764 275173 360931 447037 515521 056388 134577 202950 276305 362729 447695 516459 058203 139138 203098 279015 362806 447889 517660 059610 139208 203222 282917 365413 450568 517929 063688 139915 204366 284601 370019 450943 518220 064017 140447 205311 286973 380400 451214 518662 064330 141018 208925 287037 381405 451311 521265 065716 142668 209019 288456 381524 451590 521516 066026 146069 209736 290119 382714 453944 521846 068513 146451 211290 290643 383003 453960 524997 072628 147276 214813 291404 383059 454311 526046 074546 147487 215345 292954 383967 454965 528206 076488 147788 216452 295358 386943 456289 530770 078727 147876 218925 295879 389430 460387 530963 078739 149297 221247 296348 390131 461942 531105 079189 149327 222665 296520 390171 463020 533591 081650 149939 223835 298849 390592 463266 533846 082384 152752 224598 301652 391916 464127 534656 082478 156115 226859 301868 392596 465085 536591 084848 158885 226969 301883 393655 470324 536959 537765 617031 694522 772999 865627 925854 538914 618564 698044 773366 866479 927077 539088 618696 699684 775261 867481 927153 541547 618778 700635 776349 868642 928245 542666 620265 702778 779101 868863 928899 545391 621678 704107 782784 868866 929918 547731 622768 704343 787891 870470 931678 554747 624271 705963 789547 873901 934560 556324 627371 707377 790047 874619 935239 558623 628699 707511 790877 875799 936637 559428 628915 707577 791750 879095 939255 561260 631533 708416 791779 879380 939801 561867 632797 710371 791852 880825 940958 561909 634314 710981 792005 883625 943174 563340 636657 711841 792289 883801 947923 563717 637385 717889 793308 883954 949774 565657 638141 718084 803954 885408 952791 567859 639327 720405 804541 888869 952866 567966 639405 720849 805087 889175 954124 571625 639529 721400 810229 890760 955464 572459 639699 722589 814121 890889 956486 573290 640686 723830 814749 891692 958074 573588 641832 725343 814814 892214 958293 573684 642162 727379 815743 893757 958519 574497 642472 728021 816459 893902 959584 575736 643559 728473 819948 894198 961254 578175 645586 730174 820825 894339 962791 579886 647166 730755 824291 894379 963072 579996 647914 730837 824586 895706 964426 580432 649280 736209 824590 896052 965374 582771 649908 740143 825520 897962 966483 582902 652154 740239 826792 898367 967113 584577 652942 740337 826915 900072 976212 584637 654409 740829 829496 900377 977335 585677 655762 741140 831680 901939 978563 586176 660378 742433 836102 905761 980825 587485 664816 742863 836125 906578 988265 587510 668885 742983 836696 907736 989529 588508 670663 743379 844623 909497 990338 590326 673653 744327 844897 909629 999242 591209 674046 744375 847734 910428 594082 675913 745182 850197 910459 597883 675988 745748 852648 910640 598388 676654 747515 853459 912263 599205 679032 748891 854088 916005 600658 682571 750319 854122 916520 604307 682766 754607 854649 916560 607172 682942 760521 856155 916677 609232 684445 763409 857829 917112 610727 684548 764714 858816 918005 611657 684677 764798 860486 918344 612259 687441 767429 861012 919124 612942 688474 767818 861758 919138 614242 689816 768694 861946 920659 615123 694473 772366 862654 925670
