National Savings & Investments (NS&I) is a UK government savings bank, and one of the most commonly encountered financial institutions in estate administration. Around 24 million people hold Premium Bonds alone – plus millions more hold NS&I savings accounts, ISAs, and fixed-rate products. If someone has died and you are not sure whether they had National Savings, it is worth checking before you close the estate.
This guide explains what to do when someone dies with NS&I accounts: how to notify them, what documents you need, what happens to each account type, and the one rule that catches many families off guard – NS&I’s probate threshold is just £5,000, far lower than most high street banks.
Quick reference:
- Phone: 08085 007 007 (free from UK landlines and mobiles)
- Hours: Monday–Friday 8am–8pm, Saturday–Sunday 8am–6pm
- Online form: forms.nsandi.com
- Post: NS&I, Sunderland, SR43 2SB
- Probate required if: total NS&I savings are £5,000 or more (across all products)
- Processing time: approximately 11 working days once all documents are received
What is NS&I (National Savings & Investments)?
NS&I is a government-owned savings bank. Unlike commercial banks, NS&I savings are backed 100% by HM Treasury – there is no deposit protection limit because the government itself is the guarantee. This means the money in NS&I accounts is safe regardless of how long the estate takes to settle.
NS&I offers a range of products:
| Product | What it is |
|---|---|
| Premium Bonds | Bonds entered into monthly prize draws – no interest, prizes instead |
| Direct Saver | Online savings account with variable interest |
| Income Bonds | Account paying monthly interest income |
| Investment Account | Older account type, postal-based, variable rate |
| Direct ISA | Cash ISA earning tax-free interest |
| Fixed Rate Bonds | Fixed-term deposits at a fixed interest rate |
| Green Savings Bonds | 3-year fixed rate bonds funding green government projects |
As a government body, NS&I applies stricter rules around probate than commercial banks. That difference matters greatly to executors.
Source: nsandi.com, last verified March 2026.
How to notify NS&I of a death
NS&I can be notified three ways: by phone, online, or by post.
By phone
Call 08085 007 007 – free from UK landlines and most mobile networks. The team is available Monday to Friday 8am–8pm and Saturday to Sunday 8am–6pm. NS&I is closed on bank holidays.
When you call, explain that you are the executor or administrator of the estate. Have the deceased’s full name and, if possible, their NS&I holder number (found on any old prize warrants, account statements, or NS&I letters). The team will confirm which documents you need and how to submit them.
Source: NS&I contact page, last verified March 2026.
Online
NS&I has an online bereavement claim form at forms.nsandi.com. This is the fastest route. The form covers all NS&I account types in a single submission – you do not need to notify each product separately.
By post
Write to: NS&I, Sunderland, SR43 2SB
NS&I’s free brochure Guidance after a bereavement is available to download from their website and covers the process in detail. You can request a printed copy by calling the number above.
What documents you will need
The documents required depend on the size of the estate and whether there is a will.
| Document | Required? | Notes |
|---|---|---|
| Death certificate | Always | Original or certified copy from the register office |
| Deceased’s personal details | Always | Full name, address, date of birth, date and place of death |
| Your details as executor | Always | Full name and address |
| Your bank account details | Always | NS&I pays by BACS transfer |
| NS&I holder number | If available | Helpful but not essential – NS&I can trace accounts |
| Will | If there is one | Original or solicitor-certified copy |
| Grant of Probate or Letters of Administration | If total NS&I savings are £5,000 or more | In Scotland: Confirmation |
NS&I accepts both original documents and certified copies. If you are notifying multiple organisations at the same time – as most executors are – it is worth ordering several certified copies of the death certificate from the register office at the start. Each copy costs £11 in England and Wales (source: gov.uk/order-copy-birth-death-marriage-certificate).
Source: NS&I bereavement help page, last verified March 2026.
What happens to each NS&I product
Premium Bonds
Premium Bonds are the most widely held NS&I product and have unique rules that other savings accounts do not.
The 12-month prize window. After a holder dies, their Premium Bonds can remain in the monthly prize draw for up to 12 months from the date of death. As executor, you choose: cash in immediately, or leave the bonds in the draw for some or all of that period. The bonds’ face value is always paid back in full – the draw is a bonus, not a risk.
Prizes won after death are paid by warrant (similar to a cheque) to the person legally entitled to the estate – typically the executor. If you receive a prize warrant before the claim is fully processed, return it to NS&I and they will reissue it correctly.
Unclaimed prizes do not expire. If the deceased had older Premium Bonds with unclaimed prizes going back years, those are still recoverable. NS&I holds over £116 million in unclaimed prizes as of March 2026 (source: nsandi.com). Check before closing the estate.
Premium Bonds cannot be transferred or inherited directly. They must be cashed in and the proceeds paid to the estate. If a beneficiary wants Premium Bonds, they need to open their own account and buy them afresh.
For full detail on Premium Bonds specifically, see what happens to Premium Bonds when someone dies.
Direct Saver, Income Bonds, and Investment Account
All NS&I savings accounts continue to earn interest from the date of death until the account is closed. This accrued interest forms part of the estate. NS&I will confirm the final balance, including interest, as part of the claim process.
Income Bonds pay monthly interest. Any payments made after the date of death that were not received will be forwarded to the estate during the claim.
Direct ISA
NS&I’s cash ISA follows the same rules as other ISAs on death. For deaths on or after 6 April 2018, it becomes a continuing account of a deceased investor – it retains its tax-free wrapper until the account is closed, estate administration completes, or three years and one day have elapsed, whichever is earliest.
For a surviving spouse or civil partner: NS&I operates the Additional Permitted Subscription (APS) scheme. This allows the surviving spouse to make a one-off ISA contribution equal to the deceased’s ISA value at death – on top of their normal annual limit – preserving the tax-free status of the money. NS&I has a dedicated APS transfer authority form available from their website. See what happens to an ISA when someone dies for the full APS rules.
Important: the £5,000 probate threshold applies to NS&I ISAs as part of the total NS&I holdings, not as a separate calculation.
Fixed Rate Bonds and Green Savings Bonds
Fixed Rate Bonds and Green Savings Bonds pay a fixed rate of interest for a set term. When the holder dies, the bonds continue to earn interest at the fixed rate until they are closed as part of the estate. NS&I will confirm the terms and final balance during the claim process. Early closure of fixed-rate products may result in an adjustment – NS&I will explain the applicable terms when you notify them.
Joint accounts
If the deceased held an NS&I product jointly, the surviving account holder generally becomes the sole owner automatically. The claim process is simpler, requires fewer documents, and probate is less likely to be needed. Contact NS&I to confirm the exact steps – the bereavement team can advise based on the specific account type.
The £5,000 probate threshold – the key gotcha
This is the single most important thing to understand about National Savings when someone dies.
NS&I requires a Grant of Representation before releasing funds if the deceased’s total NS&I savings are £5,000 or more. This means the Grant of Probate (if there is a will), Letters of Administration (if there is no will), or Confirmation (in Scotland).
This threshold is far lower than most UK financial institutions:
| Institution | Probate threshold (approximate) |
|---|---|
| Barclays | £50,000 |
| HSBC | £50,000 |
| Lloyds | £50,000 |
| Nationwide | £50,000 |
| Santander | £50,000 |
| NatWest | ~£25,000 |
| Metro Bank | £25,000 |
| NS&I | £5,000 |
The threshold applies to all NS&I products combined – not per product, not per account. So a person with £3,000 in Premium Bonds and £2,500 in a Direct Saver holds £5,500 in total NS&I savings and will trigger the probate requirement.
NS&I’s policy also states that the Director of Savings retains discretion to request a Grant of Representation for any amount, even below £5,000.
An estate that would be entirely straightforward at a bank can require full probate at NS&I. Many executors do not expect this – particularly those dealing with small estates where the person’s only significant savings were Premium Bonds.
Source: NS&I bereavement help page, last verified March 2026.
If you need to apply for probate, you can do this yourself through the government’s online service at gov.uk/applying-for-probate, or use a probate solicitor. See our guide to how long probate takes for a realistic sense of the timeline, and how much probate costs for a breakdown of the fees.
How long does it take
NS&I aims to process bereavement claims within approximately 11 working days of receiving all completed documentation.
For estates below £5,000 total NS&I savings: once your documents are received, settlement typically takes around 11 working days. Payment is made by BACS transfer to the bank account you specify.
For estates above £5,000: the delay is the probate process, not NS&I. Once NS&I receives the Grant of Representation, they process the claim within the standard 11-working-day window. The probate process itself takes an average of 16 weeks for a straightforward application in England and Wales (source: gov.uk/applying-for-probate).
The most common cause of claims taking longer than expected is incomplete documentation. Before you submit, check the documents list above – a missing item will restart the wait.
Things to watch out for
Check whether the person held NS&I savings. Many people hold Premium Bonds bought decades ago and do not tell their family. If you are not sure, call NS&I on 08085 007 007 and ask them to search for any accounts in the deceased’s name. As executor or administrator, you have the authority to make this request.
Use My Lost Account. The free tracing service at mylostaccount.org.uk covers NS&I accounts as well as bank and building society accounts. Worth running before you close the estate.
The 12-month Premium Bond window is time-limited. The clock runs from the date of death, not the date you notified NS&I. If the estate is slow to settle, keep track – if bonds are still in the draw when the 12-month window closes, NS&I moves the capital to an Unclaimed Premium Bonds account. The money is still recoverable, but no further prizes can be won.
Unclaimed prizes do not expire. The deceased may have had prizes sitting unclaimed for years. Run a check at nsandi.com/prize-checker using their holder number and date of birth before you finalise the estate.
Interest on savings accounts is taxable. While Premium Bond prizes are tax-free, interest earned on Direct Saver, Income Bonds, and Investment Account balances is taxable income. If the deceased earned interest in the tax year of their death, this may need to be included in a final self-assessment return or reported to HMRC.
NS&I is 100% government-backed. There is no deposit protection limit – the full balance is guaranteed by HM Treasury regardless of the amount (source: nsandi.com). The money is secure while the estate is being administered.
Summary
National Savings & Investments can be notified of a death by calling 08085 007 007, using the online form at nsandi.com, or by post to NS&I, Sunderland, SR43 2SB. Processing takes around 11 working days once all documents are received.
The two rules to know above all others: NS&I’s probate threshold is £5,000 across all products combined – much lower than most banks – and Premium Bonds can remain in the monthly prize draw for up to 12 months after the date of death, with that window running from death, not notification.
For related reading, see what happens to Premium Bonds when someone dies, what happens to an ISA when someone dies, and what happens to a bank account when someone dies.