Buying Premium Bonds: easiest way to purchase bonds online, by phone, by post or as a gift


Updated on 04 March 2019

Buying Premium Bonds from NS&I couldn't be simpler: you can do so online, by phone or by post – whether you live in the UK or abroad, or even if you want to buy for someone else as a gift.

How to buy Premium Bonds

Millions of Brits buy Premium Bonds every year, which are offered by the Government-backed National Savings and Investments (NS&I).

Rather than paying interest, you’re entered into a monthly prize draw where you can win tax-free prizes worth up to £1 million each.

Your odds of winning any Premium Bond prize are 30,000 to one (improving to 24,500 to one come December 2017). 

This isn’t the account for you if you’re looking to earn a regular income – most people will only ever earn a small amount as a percentage of what they contribute.

They’re open to anyone aged 16 and over, but they can be looked after by a parent or guardian if the child is below that age. Or you could compare children's savings and accounts with loveMONEY if you want them to earn a guaranteed return.

How to apply for Premium Bonds

It’s easy to buy Premium Bonds, all you have to do is apply through the National Savings & Investments website.

Alternatively, you can apply over the phone by calling 08085 007 007 or +44 1253 832007.

Grandparents and great-grandparents who want to buy for a child under 16 will need to apply by post (more on that later).   

Premium Bonds: how to buy them online, over the phone and for someone else (Image: Shutterstock)

You’ll get a unique bond number for every £1 you invest. After you’ve had them for a full month, they’ll be included in the draw.

All you need is £25, but you can invest up to £50,000.  

Already bought some bonds? Check if you're a big-money winner in last month's draw.  

I live outside the UK. Could I still get Premium Bonds?

The first thing you should do is check whether local regulations allow you to hold Premium Bonds. Strict gambling and lottery laws in the US mean that it might not be possible or practical to hold Premium Bonds while you’re there.

If you’re in a country which allows you to hold them, you’ll have to make your initial application by post. Once your holding has been set up you can register for NS&I’s online or phone service.   

From there you can manage your account online or by phone (if you don’t mind the charges) – that includes buying more bonds or cashing them in.

Your other option is to receive prizes by BACS to a UK bank or building society account or an NS&I Direct Saver or Investment Account (you’ll be notified of changes by email) and paperless documents.

Fancy going for a different investment? Head over to the loveMONEY investment centre to find the right one for you (capital at risk)

Bonds can only be bought online or by phone using a personal debit card issued by a UK bank or building society. But wherever else you live in the world, prizes will be paid out in pound sterling. 

Can I buy Premium Bonds for my children, grandchildren or great-grandchildren?

You can.

Until the child reaches the age of 16, the parent or guardian nominated on the application takes care of the bonds, no matter who buys them.

The nominated person will be sent the bond record, any prizes won as wel as payment for cashed in bonds until the child turns 16.

Grandparents and great-grandparents can only apply for a child’s Premium Bonds by post. Fill in this form from the NS&I website and post it on to:

NS&I
Glasgow
G58 1SB 

If you encounter any problems getting Premium Bonds, phone NS&I, send an email or tweet @Nsandihelp.

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