Frequently asked questions

Each £1 Bond number has an equal chance of winning, regardless of when or where it was bought. Over 97% of eligible Bonds have been bought since the year 2000. So even though Premium Bonds have been on sale for over 60 years, this is why newer Bonds seem to win more frequently. When ERNIE randomly generates winners, it doesn’t store any numbers, so there’s no way any Bonds can be left out.

In 2015 the £1 million jackpot was won by a customer with only a £400 holding, who bought them in 2008!

No, your client will have to transfer in the balance from the Child Trust Fund or other cash Junior ISA.

Certificates starting their term on or after 23 July 2023 cannot be cashed in before the end of your client’s chosen term.

We continually review our products and monitor market conditions. Removing the option to make a withdrawal has brought us in line with the wider financial fixed-term investment market. A fixed-term product is designed to be held for the full term purchased.

Certificates starting their term on or before 22 July 2023 
However, if your client has a Certificate which started on or before 22 July 2023, they can still cash in their Certificate before the end of their fixed term. But please make them aware that we deduct a penalty equivalent to 90 days’ interest on the amount cashed in. They will also lose the index-linking on your whole Certificate for that investment year.
When clients cash in part of a Certificate, at least £100 must remain in the Certificate to keep it open.

Certificates starting their term on or after 23 July 2023 cannot be cashed in before the end of your client’s chosen term.

We continually review our products and monitor market conditions. Removing the option to make a withdrawal has brought us in line with the wider financial fixed-term investment market. A fixed-term product is designed to be held for the full term purchased.

Certificates starting their term on or before 22 July 2023 
However, if your client has a Certificate which started on or before 22 July 2023, they can still cash in their Certificate before the end of their fixed term. But please make them aware that we deduct a penalty equivalent to 90 days’ interest on the amount cashed in. They will also lose the index-linking on your whole Certificate for that investment year. 
When clients cash in part of a Certificate, at least £100 must remain in the Certificate to keep it open.

Your clients can cash in by phone if they are registered for our online and phone service. However, it would be quicker and easier for your clients to do this online, as our phone lines are currently very busy.

Yes. We’ll write to your clients in advance of their investment maturing, providing them with details of their options. One option will be to renew their Certificates in a new term. If the customer doesn’t take any action at maturity, the Certificate will renew with another term of the same length.

Yes. We’ll write to them in advance of their investment maturing, providing them with details of their options – and one of these will be to renew their Certificates in a new term. If your client doesn’t take any action at maturity, the Certificate will renew with another term of the same length.

We have many customers who live outside of the UK, however, to hold an NS&I account your overseas client must have a UK bank or building society account. This is because we can only make payments to, and receive payments from, a UK account in pounds sterling. Also, some of our products can’t be held in certain countries due to local restriction – you would need to check the laws and regulations of the country in which your client resides. 

No.

No. Our Green Savings Bonds are solely managed online, and the nature of some trusts makes it difficult to manage online where we accept instructions from only one named holder.

Yes.

Yes.

The Investment Guaranteed Growth Bonds can only be held in the sole name of an individual of at least 16 years of age or jointly with one other individual of at least 16 years of age.

The Investment Guaranteed Growth Bonds can only be held in the sole name of an individual of at least 16 years of age or jointly with one other individual of at least 16 years of age.

No. The Premium Savings Bond Regulations don’t allow for Premium Bonds to be invested in Trusts, SIPPs or SSAS as the product was created for individuals to save in. 
Premium Bonds were designed as a tax-free product, and the maximum holding limit gives individuals the opportunity to have a potential tax-free return by way of the prize draw. 
The regulations don’t allow joint investors or any organisation, whether incorporated or unincorporated, to invest in Premium Bonds as this would go against the intention of the investment.