Giving the gift of Premium Bonds

Why Premium Bonds?

Premium Bonds can help to kick start a healthy savings habit by offering a fun way to save.

Unlike typical saving accounts, Premium Bonds don’t pay interest. Instead, each £1 saved gets you an entry into a monthly prize draw, offering the chance to win tax-free prizes ranging from £25 to £1 million.

The minimum investment is £25.

How do Premium Bonds work?

• You buy Premium Bonds for £1 each, with a minimum purchase of £25.
• Each £1 Bond you buy has its own Bond number, and it’s this number that is entered into a monthly draw. So, for example, if you have £200 of Bonds, that’s 200 chances of winning each month.
• Each month, the prize fund is shared into millions of individual prizes ranging from £25 up to the £1 million jackpot.
• You can even download our prize checker app on your phone or tablet and check to see if you’re a lucky winner.

Buying for someone else’s child:

Premium Bonds can make a thoughtful gift for grandchildren or family friends, but there are some important points to remember…

• The child’s parent or guardian must be happy to look after the investment for the child, until the child turns 16.
• The child’s parent or guardian must give you permission to share their information with us.
• If the child and parent/guardian are not already NS&I customers, we’ll ask the parent/guardian to provide proof of their own and their child’s identity. Identity documents will need to be posted to us.
• Your gift reaches the child only after all identity checks are completed, this can take up to four weeks, based on when we receive proof of identity from the parent/guardian.
• The child might already have some Premium Bonds, and that’s fine - they can hold up to £50,000 worth.
• You won’t be able to view the child’s Premium Bonds account – only the parent/guardian will have access to it.

Buying for your own child:

• As the child’s parent or guardian, you will be responsible for your child’s Premium Bonds until their 16th birthday.
• If you haven’t already registered with us, we'll set you up to use our online and phone service as part of your application.
• You will be able to view and manage your child’s Premium Bonds account once it has been created.

Ready to gift Premium Bonds?

We’ll show you some important info first, then you can get started.