premium bond

Noun
  1. A government bond that bears no interest or capital gains but enters the holder into lotteries (synset 113439220)
    domain region: britain, great britain, u.k., uk, united kingdom, united kingdom of great britain and northern ireland - a monarchy in northwestern Europe occupying most of the British Isles; divided into England and Scotland and Wales and Northern Ireland; `Great Britain' is often used loosely to refer to the United Kingdom
    is a type of: bond, bond certificate - a certificate of debt (usually interest-bearing or discounted) that is issued by a government or corporation in order to raise money; the issuer is required to pay a fixed sum annually until maturity and then a fixed sum to repay the principal

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