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The term "premium bond" has been used in the English language since at least the late 18th century, [7] to mean a bond that earns no interest but is eligible for entry into a lottery. The modern iteration of Premium Bonds were introduced by Harold Macmillan , as Chancellor of the Exchequer , in his Budget of 17 April 1956, [ 8 ] to control ...
Through the NS&I (National Savings and Investment), the public can purchase Premium Bonds worth £1 each, with a minimum spend of £25. The maximum number of Bonds that an individual can hold is £50,000. [4] The bonds themselves attract no interest, are perpetual and are redeemable at par (face value) at any time.
Premium bonds are an investment product from the National Savings and Investment (NS&I), which is owned by the government. Each month, millions of savers are entered into a prize draw to win cash ...
In the past the bank offered many of its services through post offices, but in November 2011 it was announced that most products would only be available by phone, online, or by post; Premium Bonds would be the only remaining product sold in post offices. [23]
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