Cork residents won over €2.5 million in Prize Bonds in 2016

Cork residents are among the luckiest holders of Prize Bonds, having won more than €2.5 million in prizes last year. This is according to The Prize Bond Company Limited, which administers Prize Bonds on behalf of the National Treasury Management Agench, which has published its 2016 Annual Report.

Cork’s total winnings were €2,522,300, with 43,249 prizes won in the county. In 2016, four people in Ireland won the €1 million prize. A top prize of €50,000 is awarded in every other weekly draw. Other cash prizes awarded each week include prizes to the value of €1,000, €500 and €50.

Prize Bonds remain as popular as ever with strong sales in 2016 contributing to an almost 17% increase in the fund value to over €2.894 billion, the highest in the history of the Prize Bonds scheme. Gross sales in 2016 were €670 million, reflecting continued confidence and interest from customers in Prize Bonds as a secure investment option. Repayments of Prize Bonds during the year totalled €252 million, representing a marginal decrease of 0.1% on last year’s repayments.

Currently over 7,000 prizes are issued weekly and the number of cash prizes, worth €28 million, won by customers in 2016 was 392,176. During 2016 The Prize Bond Company made further improvements to its system, including a new customer database to make repeat purchases easier for customers. Further enhancements, particularly in online services, are planned.

Prize Bonds are a State savings product which, instead of paying interest, offers bond holders the chance to win cash prizes every week. All winnings are tax-free and Prize Bonds can be cashed in at any time after the minimum holding period of three months.

Prize Bonds can be purchased by Direct Debit, online at www. StateSavings.ie, by telephone to callsave 1850 30 50 60 or at your local Post Office. Prize Bond holders can check draw results online at www.StateSavings.ie. The main winning numbers are also available in Post Offices.