What happens to Premium Bonds when someone dies?
Last reviewed October 2026
Tell NS&I about the death. The bonds can stay in the monthly prize draws for up to 24 months after the date of death, and any prizes won are paid to the estate. After that they must be cashed in or, in some cases, transferred. NS&I tells you what proof it needs, which depends on the total value held. Premium Bonds count as part of the estate for probate and inheritance tax purposes, so include their value when you work out what the estate is worth.
What to have ready
The holder's number or bond numbers if you have them, the death certificate, and your details as executor or next of kin.
Frequently asked questions
Do I need probate to cash Premium Bonds?
It depends on the total amount held with NS&I. NS&I tells you after you notify them.
Can Premium Bonds be transferred to a spouse?
Bonds are cashed in rather than transferred by name in most cases. Check NS&I's current rules.
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