Premium Bonds can be purchased through our safe online system. Please have your debit card information handy.
You can buy Premium Bonds by bank transfer if you or the child you’re buying for already have some (including standing order).
How do I increase the value of my Premium Bonds?
A bank transfer may be the best option for topping up your or your child’s funds on a regular basis. You can set up a standing order with your bank to top up more frequently.
You can usually accomplish this online, over the phone, or in a branch. There’s no need to provide your card information; we’ll update your account once the funds have been received. It normally takes two to three banking days for this to happen.
Premium Bonds, Income Bonds, Direct Saver, Direct ISA, Junior ISA, and Investment Account can all be topped up via bank transfer or standing order.
Are Premium Bonds and NS&I the same thing?
Premium Bonds have no danger to your capital, thus the money you put in is completely safe; the only risk is the ‘interest’. And because Premium Bonds are managed by NS&I, which is backed by the Treasury rather than a bank, this capital is as safe as it gets.
Is there an NS&I Premium Bonds app?
Find out if you’ve won with our prize checker app in only a few taps. Are you one of the lucky Premium Bonds winners this month? Our official prize checker app, which is available for free, will tell you right away.
Do Premium Bonds qualify as NS&I investments?
The government created a new tax-free Personal Savings Allowance on April 6, 2016. If you’re a basic rate taxpayer, you can now earn up to £1,000 (or £500 for higher rate taxpayers) in interest on your savings each tax year without paying any tax. A Personal Savings Allowance is not available to additional rate taxpayers.
John, a higher-rate taxpayer, has £25,000 in an ordinary savings account earning 2% interest at the start of this tax year. He doesn’t have any other taxable assets. In this tax year, he’ll earn £500 in interest on this account, which consumes his whole Personal Savings Allowance. He’ll have to pay tax on the additional interest if he puts any more money into that account this tax year. Instead, he could invest up to £20,000 in a cash ISA without paying any tax this tax year.
Jenny, a basic rate taxpayer, has £60,000 in an ordinary savings account earning 2% interest at the start of current tax year. She doesn’t have any other taxable assets. This account will yield her £1,200 in interest this tax year, which is £200 more than her Personal Savings Allowance. If she maintains all of the money in the account, she’ll have to pay tax on the £200 in interest. Instead, she could transfer £10,000 from her regular savings account to a cash ISA at the start of this tax year, and she won’t have to pay tax on any of the interest she earns. This tax year, the interest she earns on her regular savings account will be reduced to £1,000, the same amount as her Personal Savings Allowance. The interest she earns on her £10,000 cash ISA will be tax-free.
When determining where to invest your money, consider the interest rate you’ll receive and the tax rate you’ll pay before deciding whether an ISA or a regular savings account is the best option for you.
Other tax-free savings
In addition to an ISA, we offer several tax-free savings accounts. In our monthly prize draw, you can win cash prizes ranging from £25 to £1 million if you own Premium Bonds. You won’t have to pay any tax on your prize if you’re the lucky winner.
You won’t have to pay tax on any returns you earn if you already own some of our Savings Certificates. Furthermore, your earnings will not be deducted from your Personal Savings Allowance.
How can I get into my NS&I account?
To log in, use your details if you have an NS&I account in your own name. If you don’t have an NS&I account, simply input the holder’s/account number of the donor’s account, as well as your own name and address. The donor’s accounts and investments will subsequently be added to your online dashboard.
Is it possible to have many premium bond accounts?
Direct Saver allows you to manage your account both online and over the phone. You can deposit or withdraw funds at any time, with no notification or penalty.
Anyone over the age of 16 can open an account, either alone or in partnership with another person.
The National Savings and Investment (NS&I) website has more information and an application form.
Premium Bonds can be held jointly.
Some assets (such as a joint bank account) can be owned jointly with another individual, allowing the assets to flow to the survivor owner after the other owner dies. Outside of the estate, other assets can be designated to a beneficiary (such as life insurance). The assets in these cases can be administered without the need for a probate grant.
Premium bonds can’t be held in a joint account with someone else. Furthermore, premium bonds cannot be designated to pass to a beneficiary when the owner passes away. If the entire worth of NS&I items exceeds £5,000, you have no choice but to file for a grant of probate.
Is there a mobile app for NS&I?
Premium bond checker is a utility tool that allows you to verify the outcomes of NS&I premium bond draws for numerous accounts on your mobile device. The updated software is now available for Android’s latest versions, and it will soon be available on the iOS app store.
Is the NS&I application secure?
Premium Bonds, NS&I’s most popular product, are perhaps the first thing that comes to mind when you think of NS&I – or National Savings & Investments.
Savings and investments with NS&I are supported by the UK Treasury, ensuring that any money you put in is completely safe.
This could make NS&I a more appealing alternative for depositors with more money than the Financial Services Compensation Scheme can guarantee (FSCS).
It has over 25 million customers in the UK who save and invest with it, and it offers products online, over the phone, and by mail.
NS&I interest rates and returns
Although NS&I provides the highest level of savings protection, this does not guarantee that its products will provide you with the best returns on your investment.
To select the perfect product for your situation, compare savings accounts, Individual Savings Accounts (ISAs), and bonds.
NS&I provides a variety of tax-free and tax-deferred savings vehicles, some of which are only appropriate for certain age groups.
Taxable accounts
NS&I offers a variety of taxable savings alternatives, meaning you’ll have to pay income tax on your returns.
Although the interest is taxable in some accounts, it is paid without the tax being deducted. This means you’ll have to record the interest on your tax return each year and pay any tax payable to HMRC.