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Premium Savings Bonds

pl n
  1. (in Britain) bonds issued by the Treasury since 1956 for purchase by the public. No interest is paid but there is a monthly draw for cash prizes of various sumsAlso called: premium bonds
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Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012