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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 ...
Premium Bonds is a lottery bond scheme organised by the United Kingdom government since 1956. At present it is managed by the government's National Savings and Investments agency. The principle behind Premium Bonds is that rather than the stake being gambled, as in a usual lottery , it is the interest on the bonds that is distributed by a lottery.
The individual bonds within each issue are numbered, like ordinary bonds, but the serial numbers serve a different function from ordinary bonds. For a lottery bond the serial number is an added incentive for the purchaser to buy the bond. Although the details vary by bond and by issuer, the principle remains the same. A drawing takes place ...
The winner holds £50,000 in premium bonds and purchased their winning bond in July 2014. They are the ninth millionaire from Suffolk. For the October 2022 draw, NS&I paid out almost 5 million ...
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Premium Bonds This page was last edited on 22 April 2021, at 03:21 (UTC). Text is available under the Creative Commons Attribution-ShareAlike 4.0 License ...
NS&I attracts savers through offering savings products with tax-free elements on some products, and a 100% guarantee from HM Treasury on all deposits. As of 2017, approximately 9% of the government's debt is met by funds raised through NS&I, [4] around half of which is from the Premium Bond offering.