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Each month’s prize fund is equal to one month’s interest on the total value of all bonds. The National Savings website interest rate section gives the current prize fund rate, the number of jackpots, together with the share of the prize fund allocated to each prize band. It also state the odds of each £1 Bond number winning a prize. The interest rate and the number of prizes varies each month, the chance of winning one of the prizes also varies each month as a result but your initial investment is always safe. You can withdraw your money at anytime. All prizes are free of UK Income and Capital Gains Tax.
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What are Premium Bonds? |
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Premium Bonds are a investment product where, instead of interest payments, investors have the chance to win tax-free prizes between £50 and £1 Million Pounds.
When you buy Premium Bonds you are allocated a series of numbers, one for each £1 invested. The minimum holding is £100 (or £50 for monthly standing order purchases), so for the minimum holding of £100 you will be allocated 100 Bond numbers, which will be individually entered into the prize draw one month after you purchase them.
Premium Bonds can be bought online at the National Savings & Investments website or at post offices or over the telephone. |
What are the Prizes? |
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In Addition to the Two £1 Million jackpot prizes, there are prizes from £50 to £100,000 the total number of which vary from time to time. |
Who Can Buy Premium Bonds? |
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Prize Band’s |
Prize Value |
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Higher value: |
£1 million |
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Medium value: |
£1,000 |
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Lower value: |
£100 |
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