A fun way to save, with the chance to win tax-free prizes each month.
Essentials at a glance
- What are the odds of winning?
- 21,000 to 1 for every £1 Bond in the monthly prize draw (variable)
- What's the annual prize fund rate?
- 4.40%, variable
- Will you pay tax?
- No. All prizes are tax-free.
- What's the min. to pay in?
- £25
- What's the max. to pay in?
- £50,000
Great for you if …
- You fancy winning tax-free prizes, up to £1 million
- You have £25 or more to save
- You want to make the most of tax-free saving
- You want to buy a savings gift for children under 16
Not for you if …
- You want a regular income
- You're looking for guaranteed returns
- You're concerned about inflation
- You want to save jointly with someone else
Premium Bonds FAQs
How it works
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Each investment must be at least £25.
Buying online
You can buy Premium Bonds online using our secure online system. Please have your debit card details at the ready.
Buying over the phone
We’re here in the UK every day except bank holidays. Please have your debit card details ready. (Please note: if you’re buying Bonds for someone else’s child, you can't buy them by phone. We don't accept credit card payments.)
Buying by post
Simply complete an application form and send it to us, with a cheque payable to NS&I.
Print and complete an application form:
Buying for yourself or your child under 16
Buying as a gift for someone else’s child under 16
Bank transfer or standing order
If you or a child you’re buying for already have some Premium Bonds, you can buy via bank transfer (including standing order).
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Premium Bonds can make a special gift for a child under 16. Until the child’s 16th birthday, the parent or guardian named on the application looks after the Bonds, regardless of who bought them. When the child turns 16, they’ll manage their own Bonds.
We’ll send confirmation of any transactions made, prizes won and payment for cashed-in Bonds to the nominated parent or guardian until the child is 16.
Buying for your own child
Parents or legal guardians can apply online, by phone or by post. If your child already has some Premium Bonds and you want to buy more online or by phone, you’ll need to be registered first. This could take a few days while we set up your registration.
The same child can have more than one nominated parent or guardian managing Premium Bonds for them. In this case, each nominated parent or guardian will have a separate holder’s number for the child. The child must not hold more than £50,000 of Premium Bonds in total.
Buying for someone else’s child
You can apply online or by post. You can ask us to send you an electronic or paper gift card for you to pass on to the child. We’ll also send you an acknowledgement of your investment. But only the nominated parent or guardian will be able to manage and cash in the Bonds.
Before you apply for someone else’s child:
- 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 on their behalf or have the Bonds to be repaid to you
- Please make sure the parent/guardian is happy to look after the investment for the child (until the child is 16), and agrees to you giving us their details
- We'll check the identity and address of everyone named on your application, and we may need to ask for documents to prove this
- Please let the parent/guardian know that we might be in touch to ask for evidence of identity documents
As part of your application you'll need to know:
- Your address and date of birth
- The child’s address and date of birth
- The parent/guardian’s address and date of birth
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Premium Bonds don’t earn interest. Instead, there’s an annual prize fund rate that funds a monthly prize draw for tax-free prizes. Remember that inflation can reduce the true value of your money over time.
The rate is variable so we can change it up or down from time to time. For example, when the Bank of England base rate changes or when rates in the general savings market change.
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Yes, if you have an NS&I Direct Saver, you can apply online for Premium Bonds and pay for it from your Direct Saver.
If you want to use another NS&I account, just fill out a quick online form and we’ll get it sorted for you. Be sure to have the details of the account you want to switch from to hand.
Switch to Premium Bonds – for myselfOnly use if switching from another NS&I account or Investment
Switch to Premium Bonds – for a child under 16Only use if switching from another NS&I account or Investment
Prefer the post?
It will take a bit longer, but you can still download and send us a paper form in the post.
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You can cash in all or part of your Bonds at any time.
Have you registered for our online and phone service? If so, simply log in or call us.
You can also cash in Premium Bonds online without having to create an account. Perfect if you want to cash in specific Bonds or you’re not registered.
Cash in my Premium BondsYou’ll need your holder’s number and bank account details to hand. Please also have your Bond record ready, if you’d like to cash in specific Bonds.
Cash in my child’s Premium BondsYou’ll need your child’s holder’s number and your bank account details to hand. Please also have your child’s Bond record ready, if you’d like to cash in specific Bonds.
Prefer the post?
Download, print and complete a cashing-in form. Then post your completed form to us together with the bond certificates to be cashed in (if you have them).
Print and complete a cashing in form
Don’t have access to a printer? Call us and we’ll send you a copy of the form.
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Once you've bought your Premium Bonds you can manage them online and by phone.
Log in or call us to check your balance and transactions, including any prizes you’ve won.
You can also give us instructions by post. We’ll send you confirmation every time you buy or cash in your Bonds. You can get this by post, too. Or choose to go paperless.
Your holder’s number
We give a holder’s number to everyone who owns Premium Bonds. It links all the individual Premium Bonds you have. Quote it whenever you buy more Bonds, cash them in or have a query.
Just to note, it’s different to your NS&I number, which we give you when you register for our online and phone service.
Your Bonds and the prize draw
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We pay out millions of prizes every month to lucky Bond holders, whose numbers are generated by our random-number generator, ERNIE.
Every £1 Bond entered into the prize draw has the same odds of winning, but the more Bonds you buy, the more chances you’ll have to win.
The prize fund interest rate, prize values, odds of winning and the way we allocate the number of prizes of each value are all variable, so they may change from time to time.
Prizes range from £25 to £1 million and are all tax-free.
To find out more about ERNIE and the prize draw, head to our blog:
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Prize checker
This is the quickest way to find out whether you’ve been lucky in the prize draw. Our prize checker will show you this month’s prizes, anything you’ve won in the previous six draws, as well as any older prizes that you haven’t claimed yet.
Prize checker app
See AlsoTax on bonds and giltsTax Free Investments UK: Best Tax Free Investing | MoneyfarmHow to Invest £20,000 | Investing your first 20KAre NS&I Premium Bonds worth it? - Times Money MentorYou can get the same information from the prize checker on our app. Download it for free at the Apple App Store or Google Play for Android.
Amazon Alexa
You can now find out whether you’ve been lucky in the prize draw by asking Alexa. Look out for the Premium Bonds prize checker Alexa skill at Amazon. Once you’ve enabled the skill you can check for prizes, find out when the next results are available and if you have any unclaimed prizes.
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Straight to your bank account
Having your prizes paid straight into your bank account (or NS&I Direct Saver) is quick, easy and safe. If you win, we’ll let you know the good news by email or text message. You’ll then normally receive your prize money in your bank account by the 7th working day of the month.
Reinvested into more Bonds
If you have less than the maximum invested then using your winnings to buy more Bonds can be a great way of boosting your chances of winning again. Choose this option and we’ll automatically reinvest the prize money for you. As a bonus, your new Bonds will be eligible to win prizes from the very next draw.
Through the post
You can choose to receive a cheque through the post if you prefer, but it does take longer.
To find out how to change the way you receive prizes, head over to our help article:
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Prizes of £5,000 or more
For £10,000 and £5,000 prizes, we'll pay your prize as per your instructions. Please note, we may send you a claim form, that you must complete and send back to us before we can pay your prize to you. Claim forms (where relevant) are sent on the third working day of the month.
Winning the jackpot
If you’re lucky enough to scoop the £1 million jackpot, our Agent Million will visit you in person to give you the good news! Remember to ask for their ID before you celebrate – they’ll always have it ready to show you.
6
days to go
Next results available 2 May
Apply for Premium Bonds
Who are you applying for?
- Myself Your child under 16 Someone else’s child under 16
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- Before you apply
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Please read the key product information and customer agreement (below).
- What you'll need
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- Your NS&I number (if you have one)
- Your address and date of birth
- Your UK bank account details registered to your current address
- Your debit card from a UK bank or building society
- What happens next
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Before we can accept your application, we’ll need to check and confirm your identity and address. To do this, we may ask you to upload or send us some documents.
We’ll aim to open your account in 7 to 10 working days. This can take longer if we need to ask you for identity documents.
Documents that prove your identity and address
Key product information
- Account name
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NS&I Premium Bonds
- Who can buy and how much
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Anyone aged 16 or over can buy Bonds.
Buy from £25 up to £50,000 in total.
You are only able to hold up to £50,000 in Premium Bonds.
Any Premium Bond numbers that go over the £50,000 limit are not eligible to win prizes. If a number beyond the limit is drawn, and a prize paid in error, we have the right to reclaim it.
- Annual prize fund rate
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4.40%, variable
No interest earned. Instead, the rate funds a monthly prize draw for tax-free prizes.
- What are the odds of winning?
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21,000 to 1 for every £1 Bond in the monthly prize draw, variable
- When your Bonds will go into the draw
You’ll need to hold your Bonds for a whole month before they’re eligible for the prize draw. For example, if you buy Premium Bonds any time in November, they’ll be in the January prize draw.
- Tax status
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All prizes are tax-free
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Conditions for bonus payment
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Not applicable
- Withdrawal arrangements
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Yes, you can take out money online, by phone or by post with no notice or penalty.
Withdrawals can take 3-5 days to reach your bank account.
- Access
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Apply and cash in online, by phone or by post
- Some definitions explained
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Tax-free means that prizes are exempt from UK Income Tax and Capital Gains Tax.
Please make sure you’ve read our current customer agreement (terms and conditions) before applying.
Apply now
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- Before you apply
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Please read the key product information and customer agreement (below).
We’ll ask you during your application if you’re buying for a child. Please select ‘yes’.
- What you'll need
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- Your NS&I number (if you have one)
- Your address and date of birth
- Your UK bank account details registered to your current address
- Your child’s address and date of birth
We’ll also ask you to upload clear photos of proof of your child’s identity and address. Photos need to be in TIFF/JPEG format and smaller than 2MB.
Documents that prove your identity and address - What happens next
Before we can accept your application, we’ll need to check and confirm your identity and address. To do this, we may ask you to upload or send us some documents.
We’ll aim to open your account in 7 to 10 working days. This can take longer if we need to ask you for identity documents.
Documents that prove your identity and address
Key product information
- Account name
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NS&I Premium Bonds
- Who can buy and how much
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Anyone aged 16 or over can buy Bonds.
Buy from £25 up to £50,000 in total.
You are only able to hold up to £50,000 in Premium Bonds.
Any Premium Bond numbers that go over the £50,000 limit are not eligible to win prizes. If a number beyond the limit is drawn, and a prize paid in error, we have the right to reclaim it.
- Annual prize fund rate
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4.40%, variable
No interest earned. Instead, the rate funds a monthly prize draw for tax-free prizes.
- What are the odds of winning?
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21,000 to 1 for every £1 Bond in the monthly prize draw, variable
- When your Bonds will go into the draw
You’ll need to hold your Bonds for a whole month before they’re eligible for the prize draw. For example, if you buy Premium Bonds any time in November, they’ll be in the January prize draw.
- Tax status
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All prizes are tax-free
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Conditions for bonus payment
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Not applicable
- Withdrawal arrangements
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Yes, you can take out money online, by phone or by post with no notice or penalty.
Withdrawals can take 3-5 days to reach your bank account.
- Access
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Apply and cash in online, by phone or by post
- Some definitions explained
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Tax-free means that prizes are exempt from UK Income Tax and Capital Gains Tax.
Please make sure you’ve read our current customer agreement (terms and conditions) before applying.
Apply now
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- Before you apply
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Please read the key product information and customer agreement (below).
The child’s parent/guardian will need to look after their Premium Bonds until the child turns 16 and all correspondence will be sent to them. Please make sure they are happy to do this, and agree to you giving us their details.
We’ll ask you during your application if you’re buying for a child. Please select ‘yes’.
- What you'll need
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- Your address and date of birth
- The child’s address and date of birth
- The parent/guardian’s address and date of birth
- What happens next
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Before we can accept your application, we’ll need to check and confirm the identity and address of everyone on the application. To do this, we may ask you to upload or send us some documents.
We’ll aim to open your account in 7 to 10 working days. This can take longer if we need to ask you for identity documents.
Documents that prove your identity and address
Key product information
- Account name
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NS&I Premium Bonds
- Who can buy and how much
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Anyone aged 16 or over can buy Bonds.
Buy from £25 up to £50,000 in total.
You are only able to hold up to £50,000 in Premium Bonds.
Any Premium Bond numbers that go over the £50,000 limit are not eligible to win prizes. If a number beyond the limit is drawn, and a prize paid in error, we have the right to reclaim it.
- Annual prize fund rate
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4.40%, variable
No interest earned. Instead, the rate funds a monthly prize draw for tax-free prizes.
- What are the odds of winning?
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21,000 to 1 for every £1 Bond in the monthly prize draw, variable
- When your Bonds will go into the draw
You’ll need to hold your Bonds for a whole month before they’re eligible for the prize draw. For example, if you buy Premium Bonds any time in November, they’ll be in the January prize draw.
- Tax status
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All prizes are tax-free
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Conditions for bonus payment
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Not applicable
- Withdrawal arrangements
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Yes, you can take out money online, by phone or by post with no notice or penalty.
Withdrawals can take 3-5 days to reach your bank account.
- Access
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Apply and cash in online, by phone or by post
- Some definitions explained
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Tax-free means that prizes are exempt from UK Income Tax and Capital Gains Tax.
Please make sure you’ve read our current customer agreement (terms and conditions) before applying.
Apply now
Switch to Premium Bonds
Please read the key product information below before switching this account for a child under 16.
Key product information
- Account name
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NS&I Premium Bonds
- Who can buy and how much
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Anyone aged 16 or over can buy Bonds.
Buy from £25 up to £50,000 in total.
You are only able to hold up to £50,000 in Premium Bonds.
Any Premium Bond numbers that go over the £50,000 limit are not eligible to win prizes. If a number beyond the limit is drawn, and a prize is paid in error, we have the right to reclaim it.
- Annual prize fund rate
-
4.40%, variable
No interest earned. Instead, the rate funds a monthly prize draw for tax-free prizes.
- What are the odds of winning?
21,000 to 1 for every £1 Bond in the monthly prize draw (variable)
- When your Bonds will go into the draw
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You’ll need to hold your Bonds for a whole month before they’re eligible for the prize draw. For example, if you buy Premium Bonds any time in November, they’ll be in the January prize draw.
- Tax status
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All prizes are tax-free
-
Conditions for bonus payment
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Not applicable
- Withdrawal arrangements
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Yes, you can take out money online, by phone or by post with no notice or penalty.
Withdrawals can take 3-5 days to reach your bank account.
- Access
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Apply and cash in online, by phone or by post
- Some definitions explained
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Tax-free means that prizes are exempt from UK Income Tax and Capital Gains Tax.
Please make sure you’ve read our current customer agreement (terms and conditions) before applying.
You’ll need the following information to hand:
- your child’s NS&I number (if they have one)
- the type of account they’re switching from, and the associated account or holder’s number.
Switch now
Switch to Premium Bonds
Please read the key product information below before switching to this account.
Key product information
- Account name
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NS&I Premium Bonds
- Who can buy and how much
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Anyone aged 16 or over can buy Bonds.
Buy from £25 up to £50,000 in total.
You are only able to hold up to £50,000 in Premium Bonds.
Any Premium Bond numbers that go over the £50,000 limit are not eligible to win prizes. If a number beyond the limit is drawn, and a prize is paid in error, we have the right to reclaim it.
- Annual prize fund rate
-
4.40%, variable
No interest earned. Instead, the rate funds a monthly prize draw for tax-free prizes.
- What are the odds of winning?
- 21,000 to 1 for every £1 Bond in the monthly prize draw (variable)
- When your Bonds will go into the draw
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You’ll need to hold your Bonds for a whole month before they’re eligible for the prize draw. For example, if you buy Premium Bonds any time in November, they’ll be in the January prize draw.
- Tax status
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All prizes are tax-free
-
Conditions for bonus payment
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Not applicable
- Withdrawal arrangements
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Yes, you can take out money online, by phone or by post with no notice or penalty.
Withdrawals can take 3-5 days to reach your bank account.
- Access
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Apply and cash in online, by phone or by post
- Some definitions explained
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Tax-free means that prizes are exempt from UK Income Tax and Capital Gains Tax.
Please make sure you’ve read our brochure which includes the customer agreement (terms and conditions last updated on 24 November 2019) before applying.
You’ll need the following information to hand:
- your NS&I number (if you have one)
- the type of account you’re switching from, and the associated account or holder’s number.
Switch now
Top up your Premium Bonds
If you already have an account with us, you can top it up whenever you like.
- Top up using Pay by bank account
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- Simply log in to your NS&I online account
- Select ‘Buy more Bonds’ for the account you want to top up
- Choose ‘Pay by bank account’ and follow the instructions on-screen
This is a new way to top up your (or your child’s) NS&I savings accounts.
It means you can make deposits through our website without needing to enter your card details or any reference numbers, so it’s quick and easy to use.
We’ll securely transfer you from our website to your bank’s app or online banking website to approve the payment – which means you’ll benefit from your own bank’s security too.
- Top up by bank transfer
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- Reference:
- You must enter your (or the child's) Premium Bonds holder's number only (not your NS&I number) as your reference. You can find your holder’s number on your bond record or by logging in online. Make sure you enter the holder's number correctly without any hyphens, spaces or full stops.
- Type of account:
- Your bank may ask you what type of account you’re paying in to. Please select ‘business’.
- Payee name:
- NS&I Premium Bonds
- Account number:
- 11994808
- Sort code:
- 08 31 15
- You must be aged 16 or over and buying Bonds for yourself or for a child under 16.
- You or the child must already have some Premium Bonds, and you must know your (or the child’s) holder’s number.
- Each investment must be at least £25 and in whole pounds.
- The bank account must be a UK account in your name.
- When buying by bank transfer, you are confirming that you have read and accepted the current customer agreement.
- Any transfers that would take you over the £50,000 limit will be automatically refunded in full to your bank account, so you may want to check your Premium Bonds balance before investing.
- Please note that we do not accept payment via Clearing House Automated Payment System (CHAPS).
Give the following details to your bank:
When you set up your payment, you may receive a message saying 'This account can't be checked' or something similar. This doesn't mean the details you are using are wrong but please check them carefully.
Topped up by bank transfer or standing order? You’ll be able to see the money in your account in 2-3 working days
For more information on topping up by bank transfer see our FAQs
- Top up by debit card
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Top up your Premium Bonds using your UK debit card
Top up your account
Be sure to check our FAQs first, then we'll show you the Premium Bonds customer agreement before you apply.
More ways to save
Direct ISA
3.00% tax-free/AER, variable
Save up to £20,000 without paying a penny in tax on the interest.
Invest from £1 to £20,000 in the tax year 2024/25.
Direct Saver
3.65% gross/AER, variable
An easy access savings account that pays your interest yearly, to top up your savings.
Invest from £1 to £2 million.
Junior ISA
4.00% tax-free/AER, variable
A tax free way to save for children up to the age of 18.
Invest from £1 to £9,000 in the tax year 2024/25.
Switch to Premium Bonds
You can switch to Premium Bonds from another NS&I account easily online, without having to log in.
Switch to Premium Bonds
You can switch to Premium Bonds from another NS&I account easily online, without having to log in.
If you, or someone whose account you look after, need extra support we're here to help
