Are there any exemptions from the maximum holding limit?

Maturing State Savings Products

Fixed Term State Savings Products (Savings Certificates, Savings Bonds, 4 and 10 Year National Solidarity Bonds) that mature and that are reinvested into current Fixed Term Products are exempt from Maximum Holding Limits.

If any such re-investment brings the total product holdings in the current issues of State Savings Products registered in your name over the Maximum Holding Limit, you will not be allowed to make any additional purchases of the respective State Savings Product.

However, you may continue to invest maturing State Savings products already held by you.

Prize Bond Winnings

Prize Bond winnings that are reinvested within 30 days of winning, into Prize Bonds are not subject to the Maximum Holding Limit; however please note that these new Prize Bonds will be included in the calculation of your Maximum Holding Limit.

If any investment, including prize reinvestment, brings the total Prize Bond holdings registered in your name over the Maximum Holding Limit, you will not be allowed to make any additional purchases of the Prize Bonds. However, you may continue to reinvest Prize Bond winnings into additional Prize Bonds within 30 days of winning, as those Bonds are not subject to Maximum Holding Limits.

To give a practical example, a customer that holds €249,000 in Prize Bonds and subsequently wins a €1,000 prize can reinvest the €1,000 (within 30 days) into additional Prize Bonds.

The proceeds will bring their Prize Bond holding to €250,000 therefore they are not eligible to purchase more Prize Bonds; however they can continue to reinvest any future Prize Bond Winnings.

Note: Prize Bond winnings must be reinvested within 30 days of winning to qualify for this exemption.

Inheritance

Inherited (i.e. the transfer to you of a State Savings product upon the death of the holder) State Savings Fixed Term products and Prize Bonds are exempt from Maximum Holding Limits for those products; however please note that these inherited products will be included in the calculation of your Maximum Holding Limits for State Savings products.  

If any inheritance brings the total product holdings in the current issues or total Prize Bond holdings registered in your name over the Maximum Holding Limit, you will not be allowed to make any additional purchases of the respective State Savings Product. However, you are still eligible to inherit additional respective State Savings product(s) in the future.

To give a practical example for Prize Bonds, a customer holds €200,000 in a Prize Bonds and subsequently receives a transfer of Prize Bonds to the value of €50,000 from a deceased holder.  The customer is eligible to accept the transfer and the proceeds will bring their holding to €250,000.  Therefore they are not eligible to purchase more Prize Bonds; however they are eligible to inherit additional Prize Bonds.

To give a practical example for Fixed Term products, a customer holds €100,000 in a current issue of State Savings Bonds and subsequently receives a transfer of same issue Savings Bonds to the value of €50,000 from a deceased holder. The customer is eligible to accept the transfer and the proceeds will bring their holding to €150,000.  Therefore they are not eligible to purchase any further value of that issue of Savings Bonds; however they are eligible to inherit additional State Savings products.