Premium bonds - timing of purchase

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RobinofLocksley
RobinofLocksley Posts: 7 Forumite
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in Savings & investments
Can you buy premium bonds just before a draw and still be entered into that draw or do you have to have made the purchase a specified period before the draw. 

I’ve tried to check this on the NS&I website but couldn’t find anything on this point. 

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  • brenpotts
    brenpotts Posts: 1 Newbie
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    i believe you have to hold the bonds for a month before they are entered into the draw the only time bond are entered into the next draw is if you have your winnings reinvested 
  • ColdIron
    ColdIron Posts: 9,149 Forumite
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    They need to be held for a full calendar month. Buy them in September for the November draw
  • arthurdick
    arthurdick Posts: 3,649 Forumite
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    I bought mine in the last week of January, 1 short month of Feb,  then in the draw for March
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  • RobinofLocksley
    RobinofLocksley Posts: 7 Forumite
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    Thank you, everyone. That makes sense. I guess if you could be entered into the draw immediately, it would allow you to put your money in just before the draw, withdraw it to accumulate interest elsewhere, and then make put back in just before the following draw, so on and so forth. It makes sense that they don’t want to allow people to do that 
  • Swipe
    Swipe Posts: 5,109 Forumite
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    edited 18 September 2023 at 1:54PM
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    Buy them on Friday 29th September for November's draw. I wouldn't trust the Saturday but it may be OK
  • mobfant
    mobfant Posts: 293 Forumite
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    It isn't always an instant purchase so it's best to buy them 3 or 4 days before the end of the month. Much ealier and you forfeit interest elsewhere. Any later and you risk not having them in time.
  • Swipe
    Swipe Posts: 5,109 Forumite
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    mobfant said:
    It isn't always an instant purchase 
    It is if you use a debit card
  • Novice_investor101
    Novice_investor101 Posts: 875 Forumite
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    Swipe said:
    mobfant said:
    It isn't always an instant purchase 
    It is if you use a debit card
    It also is if you use the service on the website where the money is transferred straight from your bank account as a one off payment. Appeared in my account within an hour. 
  • MannyS94
    MannyS94 Posts: 5 Forumite
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    Premium Bonds have a specific purchase deadline before each monthly draw. To be entered into a particular month's draw, you generally need to buy Premium Bonds before the last working day of the previous month. 
  • Nebulous2
    Nebulous2 Posts: 5,135 Forumite
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    When I've bought on their website, it tells you which draw will be your first one, before you make the payment.  
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