Join more than 165,000 subscribers and keep yourself informed with the latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.
You are now subscribed
Your newsletter sign-up was successful
Want to add more newsletters?
An account already exists for this email address, please log in.
How to gift Premium Bonds
Could Premium Bonds be the gift that keeps on giving? We look at how to buy them for a child.
More than 22 million people in the UK own Premium Bonds, entering them into a monthly draw where they could win prizes worth between £25 and £1 million.
Every £1 held in Premium Bonds is worth one entry into the monthly prize draw, and you can hold a maximum of £50,000.
Premium Bonds are managed by the state-owned savings provider, National Savings and Investments (NS&I), making them effectively 100% safe as money held with NS&I is backed by the government.
Start your trial of MoneyWeek today
Get unparalleled financial insight, analysis and expert opinion you can profit from.
Sign up for MoneyWeek’s free twice-daily newsletter.
Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.
Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.
Gifting Premium Bonds can be a good way to help build up a tax-free nest egg for children, and may help them develop a stronger savings habit.
Who can you gift Premium Bonds to?
You can buy Premium Bonds for yourself or buy them for a child under the age of 16.
You can buy them for any child regardless of whether or not you are related to them, although you will need their parent or guardian’s permission, and the minimum amount someone can hold in Premium Bonds is £25.
You cannot buy Premium Bonds for other adults.
If the child you bought Premium Bonds for wins any money from the monthly prize draws – including the £1 million jackpot – the winnings are legally theirs, although their account will be managed by their parent or guardian until they turn 16.
As prizes are distributed through a lottery, there is no guarantee that money held in Premium Bonds will grow.
How to buy Premium Bonds
You can buy Premium Bonds through the NS&I website, over the phone, or by post.
To buy them over the phone, call NS&I for free on 08085 007 007.
To buy by post, you must print and complete an application form and return it with a cheque payable to NS&I. Further instructions and the application form can be found on the NS&I website.
If you are applying on behalf of someone else’s child, there are some considerations you should bear in mind. NS&I says you should make sure the parent or guardian is happy to look after the investment for the child, and agrees to you giving out their details.
NS&I will also need to check and confirm the identity of everyone on the application. This means they will get in touch with the child’s parent or guardian to ask for evidence of identity documents.
If you want to personalise the gift, NS&I allows you to get a free gift card where you can include a message. You can choose to receive this by post or electronically.
Sign up for MoneyWeek's newsletters
Join more than 165,000 subscribers and keep yourself informed with the latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.
Daniel is a financial journalist at MoneyWeek, writing about personal finance, economics, property, politics, and investing.
He covers savings, political news and enjoys translating economic data into simple English, and explaining what it means for your wallet.
Daniel joined MoneyWeek in January 2025 and previously worked at The Economist in their Audience team. He read history at Emmanuel College, Cambridge and edited Cambridge's student newspaper, Varsity.
In his free time, he likes reading, walking around Hampstead Heath, and cooking overambitious meals.
