Premium Savings Bond

Premium Bond or Premium Savings Bond noun
A Government bond, the holder of which gains no interest, but is eligible for a money prize allotted by a draw held at stated intervals
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Main Entry:premium

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Premium Bond [Premium Bond] (also Premium Savings Bond ; )noun
(in Britain) a document with a number on it which can be bought from the government and which offers a chance of winning money as a prize every month. Unlike ↑National Lottery tickets the Premium Bonds can be sold back to the government at any time. They were introduced in 1956 as a way of encouraging people to save money.
See also Ernie

Useful english dictionary. 2012.

Look at other dictionaries:

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