How Prize Bonds work Prize Bonds are available in units of €6.25. There is a minimum purchase of €25 (4 units) and a maximum of 250,000 (40,000 units). Prize Bonds are entered into a weekly draw with thousands of prizes ranging in value from €75 to €50,000, with a jackpot prize valued at €500,000 awarded in the last draw every month. There are two Prize Bond winnings payment options to choose from: 1. Prizes can be automatically paid into the registered Bondholder's bank account on provision of a SEPA IBAN and proof document validating the IBAN. OR 2. Prizes may be automatically reinvested in new Prize Bonds, in the name(s) of the registered bondholder(s), on their behalf, for inclusion in future draws. Please note: Where bank details are not provided, the prize payment option will default to automatic reinvestment in new Prize Bonds in the name(s) of the registered bondholder(s), on their behalf. Both options provide customers with quick and easy access to prizes. Prize Bonds notify all Prize Bond winners by post with a new bond certificate for automatic reinvestment or confirmation letter for prizes paid to bank account. Prize payment option can be chosen when completing a Prize Bond application form. Alternatively you can change your prize payment method at any time by; A) Completing a Prize Payments Option Form and sending it by post to State Savings, Fexco Centre, Killorglin, FREEPOST, Co. Kerry, V93 WN9T B) Signing in to State Savings Online and selecting your Prize Bond winnings payment option in your Prize Bond settings. Note: If providing an IBAN for Prize Payment Option we require copy of a bank statement header verifying the account name(s) and IBAN, if not already submitted to State Savings. FAQs When are the draws? The Prize Bond draw usually takes place every week and nearly always on a Friday. Details of the next draw are on the Prize Bonds page of our website. The draw results may be available online from 12.30pm. How many prizes are there? The National Treasury Management Agency (NTMA) sets the variable percentage rate used to calculate the prize fund. Effective from October 2023 this variable rate is 1.00% of the total value of Prize Bonds outstanding. The value of the prize fund is recalculated at the end of every month, in line with the monthly net sales of Prize Bonds. As at the end of December 2022, the value of the Prize Bond fund was in excess of €4.7 billion. Thousands of prizes are awarded each week: €500,000 - Jackpot Prize awarded in the last draw each month €50,000 - 1 prize each week €1,000 - 20 prizes each week €500 - 20 prizes each week €75 - all other prizes* *The number of €75 prizes will change on a monthly basis in line with the changes in the value of the Prize Fund. To view recent draw results click here. Is my Prize Bond included in every draw? All elligible* Prize Bonds numbers are included in each draw until such time as the Prize Bond number is repaid. Each individual Prize Bond number is eligible to win one prize in every draw. *An eligible Prize Bond number is one that is active and has not been repaid. How are Prize Bond winners selected in the weekly draw? The Prize Bond winners are selected in a computerised draw each week. The numbers are randomly generated by a computer and every draw is observed by an official from the National Treasury Management Agency. The results of every draw are independently analysed to confirm the randomness of the draw. What is the procedure for the selection of Prize Bonds to be awarded prizes in the draw? The Prize Bond draw is conducted using a computer based, software-driven, random number generation system (the “system”). In conducting the draw, the system generates a random series of numbers in the same format as a Prize Bond serial number. If the series of numbers that is generated includes any serial number for Prize Bonds that have already been encashed the system will automatically remove these numbers from the series. Prizes are awarded to the Prize Bond serial numbers (in descending order of amount) in the order in which the Prize Bond serial numbers were generated. This means that the highest valued prize is awarded to the first Prize Bond in the series, the second highest valued prize to the second Prize Bond in the series and so on until all prizes are awarded. A single Prize Bond number is eligible to win one prize in each weekly draw. Following the draw, the results of the Prize Bonds draw are published online here. How do I know if I have won a prize? Prize Bonds notify all Prize Bond winners by post with a new bond certificate for automatic reinvestment or confirmation letter for prizes paid to your bank account. It is important that you keep your name and/or address up to date with State Savings to ensure you receive notification of any winnings. Click here for information on how to update your personal details with State Savings including the Change of Name and or Address form or contact us on 0818 20 50 60 / 01 705 7200 and we will be happy to assist. Get timely notifications of your prizes by registering for State Savings Online where you can receive online notification of any prizes on the day of the draw and you can view details of any recent and previous prizes.