NS&I Premium Bonds Prize Draw

MoneyMan01

I have just opened a Premium Bonds account with NS&I and upon opening, it displayed a message saying "First Prize Draw: January 2021".

I thought whichever month you put the money in, you would be in the draw from the next month, in this case, December?

DiamondLil

There needs to be a full calendar month between buying the bond and it being entered into the prize draw.

MikeyFennell

No unfortunately your bonds have to be invested one clear calendar month before they are entered in any subsequent draw. So any invested in Nov will get invested in Jan. Any invested in Dec will go in Feb draw. 

clive0510

the deadline for each month is 15th of previous month. so to be in dec draw you would of needed to be in before 15/11/20. I too have money in p/b. I'm looking to move mine as ns&i have lowered there  rates. I can not move to anything isa based as I'm all ready at my isa limit for this year. so I'm leaving my p/b where they are for now, and after april 1st maybe move them else where.

refluxer

Unfortunately, Premium Bonds only go into next month's draw if you're obtaining them by reinvesting prizes.
From the PB brochure...
"In most cases, you’ll need to hold them for a whole month before they’re eligible for the prize draw. For example, if you buy Premium Bonds any time in November, they’ll be in the draw in January.

If you buy your Premium Bonds by automatically reinvesting your prizes, they’ll be in the draw the next month. For example, if you win in the November draw, then your new numbers will be in the December draw."

ColdIron

No, you have to wait a full calendar month before being entered into the draw

refluxer

clive0510 said:

the deadline for each month is 15th of previous month. so to be in dec draw you would of needed to be in before 15/11/20. I too have money in p/b. I'm looking to move mine as ns&i have lowered there  rates. I can not move to anything isa based as I'm all ready at my isa limit for this year. so I'm leaving my p/b where they are for now, and after april 1st maybe move them else where.

Is that how they used to work ? It doesn't look like they work like that at the moment - see my post above for the terms quoted in the brochure

MoneyMan01

Thanks everyone. I wasn't aware of the 15th of the month being the deadline, otherwise I would of opened the account before then.

Alter_ego

It's been a clear calendar month since 1957, not sure before that.

msallen

TheDarkKnight93 said:

Thanks everyone. I wasn't aware of the 15th of the month being the deadline, otherwise I would of opened the account before then.

It isn't, and to the best of my (limited) knowledge never has been. I have often added funds on the last day of the month and gone into the draw a month and a day later.

easterbunni

msallen said:

TheDarkKnight93 said:

Thanks everyone. I wasn't aware of the 15th of the month being the deadline, otherwise I would of opened the account before then.

It isn't, and to the best of my (limited) knowledge never has been. I have often added funds on the last day of the month and gone into the draw a month and a day later.

You're correct. Even if you added them on the 1st December, they still won't be included in the draw until February.