Rate changes and unclaimed prizes with NS&I - Savings - News - Moneyfacts


Moneyfacts.co.uk News brings you the latest financial & economic news & reviews of the best products in the UK by our team of money experts.

Rate changes and unclaimed prizes with NS&I

Rate changes and unclaimed prizes with NS&I

Category: Savings

Updated: 19/02/2009
First Published: 19/02/2009

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Holders of Premium Bonds should all be checking to see if they are among the 550,000 people who have left £30m of prizes unclaimed.

With the current financial climate being less than warm, this could be a windfall that's not to be missed. Winnings are sent out by cheque, however many prizes go unclaimed as often people are unaware of having them or have moved address and not updated their details.

Sally Swait, Premium Bond Manager: "We urge anyone who believes they could have unclaimed prizes to check with us,". This can be done via the National Savings & Investments website or by writing to them.

Going forward, following the Bank of England base rate cut, NS&I will be reducing interest rates on most of their savings offerings by up to 0.75% per annum. This will be effective from 19th February 2009.

Fixed rate savings will also be reduced by up to 1.35%, however this change will not effect savings that are already invested in NS&I's fixed rate savings range.

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

Related Articles

Just 44 savings accounts beat inflation

Inflation recorded another large jump during December, and predictably, this has had a devastating impact on the number of savings accounts that beat it, so much so that you’ll need to lock your money away if you want an inflation-beating return.

Just 47% have money in a savings account

We’re often told of the importance of saving, yet unfortunately, the message doesn’t always get through. Indeed, research shows that just 47% of those surveyed have money in a savings account, and 17% have no savings or investment whatsoever.

How much will you save this year?

Many of us have set savings goals for the year ahead, and planning to budget better and save more will be at the top of many financial resolution lists. But how much are you hoping to squirrel away? Encouragingly, many people have impressive targets.