Previously, the minimum amount you could save was £100 (or £50 by standing order), but this has now been reduced – for both one-off purchases and regular savings.
The maximum Premium Bond holding remains at £50,000.
The change was announced in last year’s Budget, alongside the news that adults, other than parents and grandparents, will be able to purchase bonds for children under 16.
National Savings & Investments (NS&I), which offers Premium Bonds, says that this option will launch at a later date.
It is the first time in the 63 years since Premium Bonds launched that the minimum investment has been lowered.
For more on how Premium Bonds work – and whether they’re worth it – see our Premium Bonds guide.