NS&I warning to anyone who has at least £1 in Premium Bonds

A warning has been issued to ANYBODY with £1 in Premium Bonds. A National Savings and Investments (NS&I) Premium Bonds rate cut has been explained - with exactly how will the monthly prize draw be affected from December confirmed.

The Treasury backed financial provider and institution's prize fund rate stands at 4.4 per cent but this will be dropping to 4.15 per cent from the December draw. The odds of a £1 Bond being matched with a prize will also fall from 21,000 to one, to 22,000 to one.

here will be fewer prizes on offer in the draw, with the total number of prizes dropping from 5,991,306 in the October draw down to 5,726,438 prizes in the December draw, with 264,868 fewer prizes in the draw, NS&I has confirmed.

READ MORE UK 'faces 10cm of snow per hour' with two parts of England covered

The total prize winnings on offer will fall from £461,300,525 to £435,686,300, meaning a decrease of £25,614,225 in winnings up for grabs. There will be five fewer £100,00 prizes in the cash pot, dropping from 88 to 83, as well as 10 fewer £50,000 prizes, as the total falls from 177 to 167.

The number of prizes will change from the December prize draw, compared to October will be: £1,000,000 - 2 - remaining the same, £100,000 - 83 (down from 88), £50,000 - 167 (down from 177) and £25,000 - 322 (down from 353), as well as £10,000 - 830 (down from 883).

Other prizes include £5,000 - 1,664 (down from 1,766), £1,000 - 17,426 (down from 18,452) and £500 - 52,278 (down from 55,356). And the rest of the prizes include £100 - 2,072,099 (down from 2,212,098) and £50 - 2,072,099 (down from 2,212,098).

£25 - 1,509,458 (up from 1,490,033) completes the list. December will see 5,726,438 prizes and £435,686,300 payouts, down from the October total of 5,991,306 prizes and £461,330,525.