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The Tánaiste and Minister for Finance, Simon Harris TD, has today 17th August 2026 welcomed the announcement by the National Treasury Management Agency (NTMA) of rate increases on Ireland State Savings products effective from 30th August 2026.

Ireland State Savings is the brand name used to describe the range of Irish Government savings products offered by the NTMA to personal savers. It offers Fixed-Term fixed-rate savings products, Prize Bonds and Deposit Accounts.

Ireland State Savings Products have no fees or charges. Fixed Term products and Prize Bond winnings are tax free.

When a person saves with Ireland State Savings they are placing money directly with the Irish Government. Repayment of all Ireland State Savings money is a direct, unconditional obligation of the Irish Government. Funds saved in Ireland State Savings Fixed Term products and Prize Bonds are placed in the Central Fund of the Exchequer and are used to fund Government expenditure such as capital expenditure in the areas of energy, transport, water and housing. They form part of the National Debt of Ireland.

The total value of Ireland State Savings holdings was €23.9 billion at end June 2026.

Commenting on the rate increases, the Tánaiste and Minister for Finance said:

“I very much welcome today’s announcement by the NTMA to increase these rates as a measure that will help people who are saving and investing and want to make their hard-earned money go further. This announcement will provide Ireland State Savings customers with an increased return on new fixed-term savings products and deposit accounts.

"It will also provide increased prize fund for Prize Bond holders with the variable rate used to calculate the prize fund increasing to 1.5%, while also supporting the valuable conduit that Ireland State Savings provide for the Irish State to raise funding.

"The Ireland State Savings Digital Development Programme has improved accessibility and convenience for customers, complementing the traditional service provided through the post office network. Ongoing digital enhancements have made it easier for customers to access and manage their savings, improving the customer experience.”

The rate increases to the suite of products detailed below are the first set of rate increases since the rate increases that came into effect in October 2023. When setting rates, the NTMA is mindful of the balance between providing customers with competitive savings options and providing value to the Exchequer in terms of borrowing costs.

The new rates will have no impact on existing holders of fixed term products.

The fixed term rates which come into effect on the new issues from 30th August 2026 are:

3 Year Savings Bonds – Issue 19

5 Year Savings Certificates – Issue 26

6 Year Instalment Savings – Issue 18

10 Year National Solidarity Bonds – Issue 10

1 AER = annual equivalent rate. The AER assumes no early encashment.

2 AER on Instalment Savings assumes an average term of 5½ year (12 equal monthly lodgements followed by a 5-year term)

The new variable interest rate, that comes into effect on 30th August 2026 for the Deposit Account is:

3 Subject to Deposit Interest Retention Tax (DIRT) at the prevailing rate. Interest calculated daily and credited yearly on 31 December.

The new variable % rate used to calculate the prize fund from 1st September is:

Communication of these changes to customers will be on the Ireland State Savings website, in Post Offices, and in National Newspapers from 30th August 2026.

The NTMA keeps Ireland State Savings rates under review to ensure that products remain competitive in the savings market generally, whilst providing value to the Exchequer in terms of borrowing costs.

Ireland State Savings Products have no fees or charges. Fixed Term products and Prize Bond winnings are tax free.

The repayment of all Ireland State Savings money is a direct and unconditional obligation of the Government of Ireland. Funds saved in Ireland State Savings Fixed Term products and Prize Bonds are placed in the Central Fund of the Exchequer and are used to fund Government expenditure. They form part of the National Debt of Ireland.

Ireland State Savings Online is the easy way for a saver to manage their savings. It is possible to view and manage holdings across all Ireland State Savings Fixed Term, Prize Bonds and Instalment Savings products, initiate repayments to a nominated bank account (sole holdings) or reinvest funds to another Ireland State Savings product, including Prize Bonds.

The total value of Ireland State Savings holdings was €23.9 billion at end June 2026.

For more information about State Savings including Terms and Conditions go tohttps://www.statesavings.ie/

The National Treasury Management Agency (NTMA) is a State body which operates with a commercial remit to provide asset and liability management services to Government. Businesses managed by the NTMA include Funding and Debt Management, the Ireland Strategic Investment Fund, the Future Ireland Funds, the National Development Finance Agency, NewERA and the State Claims Agency.