Tax-free means that prizes are exempt from UK Income Tax and Capital Gains Tax. Withdrawals can take 3-5 days to reach your bank account.Īpply and cash in online, by phone or by post Some definitions explained Yes, you can take out money online, by phone or by post with no notice or penalty. See prize draw details What are the odds of winning?Ģ1,000 to 1 for every £1 Bond in the monthly prize draw (variable) Tax status Instead, the rate funds a monthly prize draw for tax-free prizes. If a number beyond the limit is drawn, and a prize paid in error, we have the right to reclaim it. You are only able to hold up to £50,000 in Premium Bonds.Īny Premium Bond numbers that go over the £50,000 limit are not eligible to win prizes. NS&I Premium Bonds Who can buy and how much

How does the annual prize fund rate work?.

The parent/guardian’s address and date of birth.

Please let the parent/guardian know that we might be in touch to ask for evidence of identity documentsĪs part of your application you'll need to know:.

We'll check the identity and address of everyone named on your application, and we may need to ask for documents to prove.

Please make sure the parent/guardian is happy to look after the investment for the child (until the child is 16), and agrees.

On their behalf or have the Bonds to be repaid to you

Remember, although you can buy Premium Bonds for someone else’s child as a gift, you won’t be able to look after the investment.

But only the nominated parent or guardian will be able to manageīefore you apply for someone else’s child: We’ll also send you an acknowledgement of your investment. You can ask us to send you an electronic or paper gift card for you to pass on to the child. The child must not hold more than £50,000 of Premium Parent or guardian will have a separate holder’s number for the child. The same child can have more than one nominated parent or guardian managing Premium Bonds for them. This could take a few days while we set up your To buy some more online or by phone, you’ll need to be registered first. If your child already has some Premium Bonds and you want Parents or legal guardians can apply online, by phone or by post.

We’ll send confirmation of any transactions made, prizes won and payment for cashed-in Bonds to the nominated parent or On the application looks after the Bonds, regardless of who bought them. Until the child’s 16th birthday, the parent or guardian named Premium Bonds can make a special gift for a child under 16.

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