How Premium Bond Works?

[newbie99]

I am considering putting some money into the scheme, but I would like some advise how exactly it work...

If I was going to put in £1000, then later could I put some more money at a later date? Does it giver me a new number or just uses the same number but increases my chance of winning.?

Also could i get my money back anytime without penalty?

[woofgang]

all info here.
basically every £1 you put in gets a separate number and goes separately into every draw. each bond bought at the same time gets a consecutive number. You are also given a holder number (like an account number) and when you buy more bonds, they have different bond numbers but are linked to your holder number. You can withdraw the money at any time but its not immediate, No withdrawal penalty.
http://www.nsandi.com/premium-bonds

[newbie99]

Thanks woofgang. This is clearer than their website....