Can You Buy Premium Bonds as a Gift for Adults in the UK

Gift Premium Bonds: Safe, Easy, and Exciting Investment for Loved Ones

Can You Buy Premium Bonds as a Gift for Adults in the UK?

A thoughtful present for someone you care about is always appreciated. And a Premium Bond is one good idea. Everyone knows they are among the safest investments in the UK and are easy to buy. But can you purchase Premium Bonds as a gift? Indeed, you can, depending on a few variables. This article will explain why buying Premium Bonds makes for great gifts.

How to Buy Premium Bonds

If you’re thinking of buying Premium Bonds for a family member, there’s good news! You can buy them as a gift, and you don’t have to be in the same household. The person you’d like to buy them for must be aged 16 or over, have a UK address, and be allowed to hold only one Premium Bond account, including those held on their behalf by another person.

Can You Buy Premium Bonds as a Gift for Someone Over 16?

Buying Premium Bonds as a gift is a popular choice. If you’re thinking of gifting Premium Bonds, then the good news is that they are easy to buy and make wonderful gifts for family and friends. You can purchase them online or by post, whichever you prefer. If you’d like to buy Premium Bonds as a gift, you can do so on behalf of someone else. This is also known as buying them in trust. However, you cannot buy Premium Bonds in trust for someone under 16 years old. You must also be 16 or over to buy them for yourself. Ultimately, the person you’re giving the gift to will receive any prizes won in their name and not yours.

Can I Buy Premium Bonds for Someone Over 18?

Yes, you can buy Premium Bonds for someone over 18. Once they reach 16, they’re eligible to win prizes and will be able to claim them. If you buy Premium Bonds as a gift, you’ll need to complete the investor’s details on the application form and choose a gift card from our online range. You can also buy a gift voucher from any Post Office branch and exchange it for Premium Bonds on behalf of anyone aged over 16.

When is the Best Time to Buy Premium Bonds?

The best time to buy Premium Bonds is when you’ve got some money you want to save. Of course, people have their own individual savings plans and goals, so the best time to buy them will always differ for everyone. The decision is also very much based on personal preference as there’s no set term for how long you should hold them.

Can I Buy Premium Bonds for Someone Else Online?

One of the great things about Premium Bonds is that they make a fantastic gift. Whether you’re buying for a young person or an adult, you can buy Premium Bonds online, in-branch, or over the phone. You’ll need to provide details of the person you’re buying them for, even if it’s for yourself. This includes their name, address, and National Insurance number if they have one. It’s the same process if you’re using a paper application form or applying with a bank-nominated agent. If you’re buying Premium Bonds for someone else on an ongoing basis, such as through payroll giving, you may wish to set up standing orders. This way, your chosen amount will automatically be invested in the bondholder’s name each month.

Can I Buy Premium Bonds for My Wife?

Yes, you can buy Premium Bonds for your wife. It’s important to note that the name on the bond doesn’t have to be the same as yours, but you will need to know your wife’s National Insurance number and address. Also, these bonds will be held in your name only, and any prizes won will be paid into your account. If you want to hold the bonds in your wife’s name so she can receive any winnings, you’ll need to set up a new account with her details and make any future payments into this instead.

Can I Buy Premium Bonds at the Post Office?

You can buy Premium Bonds at any Post Office. However, there are several other places you can buy them from, including directly from National Savings and Investments (NS&I), and participating banks. Buying them through the Post Office is always free, but some banks and NS&I charge a fee for buying Premium Bonds this way. However, they will only issue application forms and accept bond sales in person if you have a National Insurance number and proof of your name and address. This is because of money laundering regulations.

Can you lose money on premium bonds?

No, you cannot lose money on premium bonds in the sense that you will always get back the amount you invested. Premium bonds are a type of savings product issued by National Savings and Investments (NS&I) in the UK, where instead of earning interest, holders are entered into a monthly prize draw for tax-free cash prizes.

However, it’s important to understand the following points:

  1. No Guaranteed Return: While you won’t lose your initial investment, there’s no guarantee that you’ll win any prizes. This means that, over time, your money might not grow as it could with a traditional interest-bearing savings account or other investments.
  2. Inflation: Your money may lose purchasing power over time due to inflation. If you don’t win prizes regularly, the real value of your investment could decrease as prices for goods and services rise.
  3. Opportunity Cost: By holding premium bonds, you might miss out on potentially higher returns from other investments or savings products.

So, while your capital is secure, and you won’t lose the actual amount you put in, the returns are not guaranteed, and you might find that your investment doesn’t keep pace with inflation or other savings options.


Premium Bonds represent a unique and thoughtful gift option, especially suitable for those looking for a safe investment opportunity in the UK. Whether you’re considering a gift for a young adult just starting out or for someone more established, Premium Bonds offer flexibility, safety, and the exciting possibility of winning substantial prizes. Remember, when buying Premium Bonds as a gift, it’s essential to ensure all procedures are followed correctly to guarantee that the recipient can fully enjoy their benefits. With the ease of purchasing online, by post, or in person at a Post Office, giving the gift of investment has never been easier.

By understanding the guidelines and options available for purchasing Premium Bonds, you can make an informed decision that could potentially yield great rewards for someone you care about.[/vc_column_text][/vc_column][/vc_row]

Loved it? Share it!

Recent Posts

Socialize with us

Selet Country

we plant trees