Key takeaways
Premium bonds are sold exclusively by NS&I (National Savings and Investments), a government-backed savings institution. They cannot be purchased from banks, building societies or investment platforms.
The minimum purchase is 25 pounds. The maximum holding per person is 50,000 pounds.
Bonds can be bought online at nsandi.com, via the NS&I app, by phone on 08085 007 007 or by post.
Premium bonds are available to UK residents aged 16 and over. Parents, grandparents and legal guardians can buy bonds for children under 16.
Bonds are entered into the monthly prize draw from the month after purchase.
Reviewed: June 2026Key facts
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Who can buy premium bonds
Premium bonds are available to UK residents aged 16 and over. There is no upper age limit. Adults can also buy premium bonds on behalf of children under 16 -- the child becomes the bond holder but the adult acts as account manager until the child turns 16, at which point management transfers to the child.
NS&I defines eligible buyers as those who are ordinarily resident in the UK for tax purposes. Non-UK residents are not eligible to purchase new premium bonds, though people who held bonds before becoming non-resident can retain them.
How to buy premium bonds online
The most straightforward route is via nsandi.com. You will need to create an NS&I online account if you do not already have one, providing your name, address, date of birth and National Insurance number for identity verification. Once registered, you can purchase bonds immediately using a debit card. The minimum purchase is 25 pounds and you can buy in any whole pound amount up to the 50,000 pound maximum holding limit.
The NS&I app for iOS and Android provides the same purchase functionality as the website. If you already have an NS&I online account your login credentials work in the app.
Buying premium bonds by phone
NS&I customer services on 08085 007 007 can process premium bonds purchases by debit card over the phone. Lines are open Monday to Friday 8am to 6pm and Saturday 8am to 6pm. You will need to provide personal details for identity verification if purchasing for the first time.
Buying premium bonds by post
NS&I accepts postal applications for premium bonds. You can download the application form from nsandi.com or request one by calling NS&I. Payment by post must be made by personal cheque made payable to NS&I. Postal applications take longer to process than online or phone purchases.
Buying premium bonds for a child
A parent, grandparent or legal guardian can buy premium bonds for a child under 16. The child is the bond holder and is entered into the prize draw in their own name. Prizes belong to the child. The adult registered as account manager controls the account until the child turns 16.
To buy for a child online, select the option to purchase for a child during the NS&I registration or account management process. You will need the child's name, date of birth and, for children aged over a certain threshold, their National Insurance number.
What happens after purchase
NS&I issues a confirmation of purchase by email or post. Bonds are entered into the monthly prize draw from the month after purchase -- bonds bought in June are first eligible for the July draw. Your holder number, which you need to check for prizes, is provided in the confirmation documentation or visible in your NS&I account.
There is no fixed term for premium bonds. They can be held indefinitely and cashed in at any time. The original investment is returned in full on encashment.
Related guides
Disclaimer: This guide is for informational purposes only. Kael Tripton Ltd is not regulated by the FCA and does not provide regulated financial advice. Premium bonds are provided by NS&I, a government-backed savings institution. Always verify current prize rates and terms directly at nsandi.com before making savings decisions.
Frequently asked questions
What is the minimum amount to buy premium bonds?
The minimum purchase is 25 pounds. Purchases must be in whole pounds -- you cannot buy fractional amounts. The maximum holding per person is 50,000 pounds.
Can I buy premium bonds as a gift?
Adults can buy premium bonds for children under 16 as a gift, acting as account manager. It is not possible to transfer premium bonds to another adult -- bonds can only be held in the name of the person who bought them or, for children's bonds, in the child's name.
How long does it take for premium bonds to be entered into the draw?
Bonds purchased in one month are entered into the draw from the following month. For example, bonds bought in June are first eligible for the July draw. There is no minimum holding period -- bonds can be cashed in at any point after purchase.
Are premium bonds guaranteed by the government?
Yes. NS&I is backed by HM Treasury. Unlike bank savings accounts which are protected up to 85,000 pounds under the Financial Services Compensation Scheme, NS&I savings including premium bonds are 100% backed by the government with no limit.
Can I buy premium bonds if I live abroad?
No. Premium bonds are only available to UK residents. If you become non-resident after purchasing bonds you can retain existing holdings but cannot purchase additional bonds.
Can I buy premium bonds for someone else?
Adults can buy premium bonds for children under 16. It is not possible to buy premium bonds for another adult -- each person must purchase bonds in their own name and manage their own account.
