SAVERS HAVE GOT THEIR EYES ON THE PRIZE

SAVERS are preferring to take a punt on Prize Bonds than earn derisory interest in banks. The effective return on Prize Bonds – that is, the proportion of the fund paid out in prizes – is over half a percent.

That easily beats even the best on-demand bank interest – KBC’s less-than-mouthwatering 0.3%. Prize bonds worth €567m were sold last year – that’s down on 2016, but still the second-highest year on record for sales (2017, €670m). More than 300 cash prizes, worth €23m, were won by customers.