State Savings: Who Qualifies and What You Get
Learn how to use State Savings products to earn tax-free interest on your money through various government-backed savings options.
State Savings offers a range of government-backed products designed to help you save money with the benefit of tax-free interest.
Who it's for
This scheme is available to all residents of Ireland.
What you get
You can access several different savings products, such as Savings Certificates or Prize Bonds. The main benefit is that any interest you earn on your savings is tax-free.
What it costs you
There is no fee to join, but you will need to meet minimum investment amounts, which vary depending on which specific product you choose.
The catch to know
The interest rates on these products are fixed. This means your returns might be lower than the current rate of inflation, which could affect the real value of your money over time.
How to apply
- Visit the official website to compare the different products available.
- Choose the savings product that best fits your financial goals.
- Follow the online instructions to set up your account and make your initial investment.