Lottery Accounts

Lottery accounts are a type of savings account, where you have a chance of winning cash prizes instead of earning regular interest. There is no guarantee that you will win a prize, but the chance of winning is the incentive for most savers. In the UK, Premium Bonds are the only lottery account. Premium Bonds are offered by National Savings and Investments (NS&I), backed by Her Majesty's Treasury and thus guaranteeing the security of your capital.

When you play the lottery, such as The National Lottery™, you pay a fee to be given the chance to win a cash prize. If you do not win your fee is not refunded, and you need to pay each time you wish to participate. Premium Bonds offer you the chance to win cash prizes in exchange for depositing your money with National Savings and Investments. With premium bonds you can withdraw your capital at any time without penalties.

For more details see: