Premium bonds hit the web

Premium bonds are now available online for the first time.

16:31 09 February 2005

Premium bonds are now available online for the first time.

The low-risk investments that offer tax-free prizes of up to 1 million can be purchased via the National Savings & Investment (NS&I) website.

The move is intended to make premium bonds more accessible and encourage more people to consider them as a potential investment.

Purchases can be made online using either a debit or credit card.

Visitors to the site select how much they want to invest, starting with a minimum of 100 then in multiples of 10, up to the maximum investment limit of 30,000 per person.

"The option to buy premium bonds online is another feature of NS&I's long-term plan to develop premium bonds and to make it easier for customers to save and invest," NS&I said in a statement.

In May 2003, NS&I raised the upper investment limit to 30,000.