NS&I explains little-known rule that means Premium Bond prizes can no longer be won – four more ways you could miss out [Video]

MILLIONS of Premium Bond customers could stop being eligible to receive prizes due to a little-known rule.

More than 24million people currently hold the bonds with National Savings & Investments (NS&I), which enter you into a monthly prize draw where you could win up to £1 million.

NS&I explained the rules in response to a query from a customer on social media website X (formerly Twitter).

The premium bond-holder asked: “What happens to Premium Bonds one year after the holder’s death if probate hasn’t been obtained?”

Speaking from experience they added: “We have informed you of the death and the bonds are currently still gaining prizes but frozen. The holding is above the £5,000 figure.”

In response NS&I said: “When a Premium Bonds holder dies, they are only eligible to earn prizes on the account up to a year after the date of death.

“After this point, if the …