![]() They are also free from stamp duty and do not count toward your personal savings allowance. Premium bonds are free from capital gains tax and income tax, but they are not exempt from inheritance tax.The annual prize fund rate is currently 3.70%, which means that on average, for every £100 invested in premium bonds, you can expect to win £3.70 per year.The prizes range from £25 to £1 million, and the odds of winning any prize are 24,000 to 1 for every £1 bond you own.You can also buy them as a gift for children under age 16. You can buy premium bonds online, by phone or by mail, with a minimum investment of £25 and a maximum of £50,000.Premium Bonds are a type of lottery bond/savings account that offer a chance to win tax-free prizes every month, instead of paying interest-meaning that they have no guaranteed return.
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