Do Premium Bonds Affect Your Credit Score?
Short answer: no. Premium Bonds don't appear on your credit report and have absolutely no effect on your credit score. Here's a quick explainer on why — plus what lenders actually can see when you apply for credit.
Why Premium Bonds Don't Appear on Credit Reports
Credit reports exist to help lenders assess how you handle borrowing. They track things like:
- Credit cards and their payment history
- Loans (personal, car, student)
- Mortgages
- Overdrafts
- Mobile phone contracts (if paid monthly)
- Buy now, pay later accounts
Premium Bonds are a savings product, not a credit product. You're not borrowing money — you're depositing it with NS&I. Credit reference agencies (Experian, Equifax, TransUnion) have no reason to record savings because savings don't indicate how you manage debt.
💡 The Simple Rule
If it involves borrowing, it goes on your credit report. If it involves saving, it doesn't. Premium Bonds are savings, so they're invisible to credit agencies.
What About Other Savings?
The same principle applies to all savings products:
| Product | On Credit Report? |
|---|---|
| Premium Bonds | ❌ No |
| Savings accounts | ❌ No |
| ISAs | ❌ No |
| Fixed-rate bonds | ❌ No |
| Investment accounts | ❌ No |
| Pensions | ❌ No |
| Current accounts (basic) | ❌ Usually no* |
| Current accounts with overdraft | ✅ Yes (overdraft only) |
*Current accounts may appear if you've applied for an overdraft facility, even if you don't use it.
Premium Bonds and Mortgage Applications
While Premium Bonds won't show up when a lender runs a credit check, they can still play a role in your mortgage application:
Proving Your Deposit
Mortgage lenders need to verify where your deposit comes from (anti-money laundering regulations). If you cash in Premium Bonds for a house deposit, you may need to provide:
- NS&I statement showing your holding
- Bank statement showing the cash-in arriving
- Explanation that the funds came from Premium Bonds savings
This is standard practice and shouldn't cause any issues — Premium Bonds are a completely legitimate source of deposit funds.
Declaring Assets
Most mortgage applications ask you to list your savings and assets. You should include Premium Bonds here — they count as "cash equivalent" savings because they can be cashed in within 3 working days. Having savings actually strengthens your application, as it demonstrates financial stability.
✅ Mortgage Application Tips
- Declare Premium Bonds when asked about savings/assets
- Keep your NS&I statement handy as proof of holdings
- If cashing in for a deposit, do so 3+ months before applying (some lenders prefer "seasoned" funds)
- Don't worry about the lack of credit report entry — lenders understand savings don't appear there
Do NS&I Products Ever Affect Credit?
No NS&I product affects your credit score. NS&I only offers savings products:
- Premium Bonds
- Income Bonds
- Direct Saver
- Investment Account
- Junior ISA
- Green Savings Bonds
None of these involve borrowing, so none appear on credit reports. NS&I doesn't offer credit cards, loans, or any lending products.
Common Misconceptions
"Cashing in Premium Bonds will hurt my credit score"
False. Cashing in Premium Bonds has no effect on your credit score. Credit agencies don't know you hold them and don't know when you cash them in.
"Having lots of Premium Bonds will improve my credit score"
False. While having savings is generally good for your finances, it doesn't appear on credit reports. Your credit score is purely based on how you manage borrowing, not how much you save.
"Lenders can see all my bank accounts and savings"
Not from credit reports. Credit reports show borrowing, not savings. However, when you apply for a mortgage or loan, the lender may ask for bank statements or proof of income/savings — that's separate from the credit check.
"I need to tell credit agencies about my Premium Bonds"
No. You cannot add savings to your credit report. Credit agencies only record credit accounts (borrowing). There's no way to report savings even if you wanted to.
What Does Affect Your Credit Score?
Since Premium Bonds don't factor in, here's what actually determines your credit score:
- Payment history: Do you pay credit cards and loans on time?
- Credit utilisation: How much of your available credit are you using?
- Length of credit history: How long have you had credit accounts?
- Types of credit: Mix of credit cards, loans, mortgage, etc.
- Recent applications: How many credit applications recently?
- Electoral roll: Are you registered to vote at your current address?
If you want to improve your credit score, focus on these factors rather than anything to do with savings.
Calculate Your Premium Bonds Returns
Your credit score won't change, but your savings might. See what you could expect to win.
Disclaimer: This article provides general information about credit reports and Premium Bonds. It is not financial or credit advice. For specific guidance on credit issues, consult a qualified financial advisor or credit specialist. Information accurate as of February 2026.