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NS&I Premium Bonds holders who have less than £20,000 in holdings have been issued a warning. NS&I Premium Bonds, which is backed by the Treasury, allows customers and holders to stash as much as £20k in their holdings.

Aaron Peake, from free credit score service CredAbility, said: "If you’ve gone a year or more without any wins, it might be time to review your options. Many savers forget that interest on other accounts compounds over time, while money in Premium Bonds does not grow unless you win.

"If you have not had any luck and could earn guaranteed interest elsewhere, it may be worth moving at least part of your balance to a regular savings account or cash ISA."

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