Can we make Joint Purchases of State Savings Products?

Joint Ownership

You may purchase State Savings Products as joint applicants and hold these Products as Joint owners, subject to Terms and Conditions.
All correspondence in relation to a Product held by Joint Holders will be sent to the first named Joint Holder listed on the Application Form, unless otherwise instructed by you.

Maximum Holdings Limits
A holding held jointly is equally divided between the joint holders and counted as part of the individual limits which apply to individual holders.  If you have already reached your individual limit a joint application with another person will be refused even if they have not reached their holding limit.    The following are the individual Holding Limits in place for Fixed Term Products and Prize Bonds:

  • The Maximum Holding Limit in Prize Bonds for newly registered customers on or after 1 November 2015 is €250,000 per individual, regardless of whether you hold Prize Bonds as a Sole Holder or a Joint Holder.
  • The Maximum Holding Limit in individual issues of Savings Bonds, Savings Certificates or National Solidarity Bonds is €120,000 per individual, regardless of whether you hold as a Sole Holder or a Joint Holder.

Note where Prize Bonds or Fixed Term Products are held jointly all parties will have to approve any transaction such as early redemption etc.

Deposit Accounts

With effect from 13 July 2019, the maximum overall limit for POSB Deposits is €250,000 per individual customer.  For non-individuals, the maximum overall limit is €5,000,000.

In the case of Deposit accounts it is possible to choose that either party can give instructions or that both parties are required. If you have jointly chosen that either signatory may transact on your deposit account then you must be aware this means that either party in the joint account has full authority over the account. Either party can deposit or withdraw from the account. The full amount in the account for instance could be withdrawn without the permission or knowledge of the other party.

If you have jointly chosen that both signatories are required to transact on the account then you must be aware this means that both parties in the joint account will be required to be present for any transaction on the account.  In the event of one party being unable or unwilling to be present no withdrawals or deposits will be possible.

Deceased Cases – State Savings Products

If a Joint Holder dies, the value of the holding passes to the surviving Joint Holder.  No part of the holding will go to the estate of the deceased party.