![]() Prize bonds are entered into a weekly draw with prizes ranging in value from €50 to €50,000, with a €250,000 prize awarded four times a year. Prize bonds are available at €6.25 each the minimum purchase of four costs €25. The POSB (deposit account) had both a previous return and gross AER rate of 0.05% which is now 0.15% for both. Savings Certificates (5 Years) have a total return of 3% which was 5%. Instalment Savings (6 Years) have a total return of 3.5% now, which was previously 5.5%. The gross Annual Equivalent Rate (AER) is now 0.96% when it was previously 1.5%. The National Solidarity Savings Bond (10 Years) now has a total return of 10%, instead of a previous total of 16%. “State Savings interest rates were last adjusted in June/July 2016, with the exception of Prize Bonds where the rate for the Prize Bond Fund was adjusted in August 2017.” The NTMA, which manages assets and liabilities of the Irish State, said in a statement to TheJournal.ie that the new rates “reflect the reductions in interest rates in both Sovereign bond yields and the retail savings market”. THE NATIONAL TREASURY Management Agency (NTMA) has said that interest rates for State savings schemes will be reduced, and the size of the Prize Bond Fund will also be reduced.
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