Savings bonds in Ireland

In Ireland, savings bonds are savings products offered by the Irish Government and distributed through An Post. They pay a fixed rate of interest provided the money is left untouched for the duration of the term. On this page, we’ll outline how savings bonds work and the different types available, plus how they compare with other savings options.

The information provided here is for informational and educational purposes only and does not constitute financial advice. Please consult with a licensed financial adviser or professional before making any financial decisions. Your financial situation is unique, and the information provided may not be suitable for your specific circumstances. We are not liable for any financial decisions or actions you take based on this information.

A savings bond is a fixed-term savings account where you deposit a lump sum and receive a fixed interest rate. To earn the full interest rate advertised, savers are required to keep their money in the bond for the specified term.

In Ireland, Savings Bonds are one of the savings products provided by the state, operating under the brand name Ireland State Savings. The Savings Bonds are issued by the Minister for Finance in Ireland, who acts through the National Treasury Management Agency (NTMA). This is the agency responsible for managing the Irish national debt. The Irish Government offers these products through An Post, using the money raised to help manage its financing.

In Ireland, Post Office (An Post) Savings Bonds are available as a form of state saving. They’re part of the wider Ireland State Savings range, which also includes Savings Certificates and National Solidarity Bonds.

These are all Ireland State Savings products issued by the NTMA on behalf of the Government of Ireland. Savings held in any of them are not subject to DIRT (Deposit Interest Retention Tax), income tax, Universal Social Charge (USC) or social insurance (PRSI), but other tax liabilities may apply depending on your individual circumstances. What sets them apart is the term length, which can affect how much interest is offered.

Under Ireland State Savings, the Savings Bond (also known as a Post Office Savings Bond or an An Post Savings Bond) is a three-year fixed-term Government bond. The Irish Government is legally obliged to repay all Ireland State Savings money, with no conditions attached*. The minimum investment is €50, while the maximum is €120,000 per person, per issue. For jointly held Savings Bonds, the amount is treated as split equally, so two people can put in up to €240,000 in total.

Savings Certificates last five years and offer a slightly higher rate due to the longer duration. Earnings are tax-free. As with Savings Bonds, the minimum amount you can save in Savings Certificates is €50 per person, per issue, while the maximum is €120,000 (and €240,000 for joint holdings).

Available for a duration of 10 years, these are considered a long-term investment. As the market interest rates can alter a lot in 10 years, signing up to a 10-year bond could mean that the agreed rate becomes less competitive if market rates rise. For the 10-year National Solidarity Bond the minimum investment is €50, and the individual maximum for each issue is €120,000.

Savers may be attracted to Ireland State Savings Bonds due to their backing by the Irish Government, but the state may not always offer competitive rates. When the Government has greater liquidity, it can afford to reduce interest rates on these products, meaning the AER can be relatively low compared with market rates.

While these savings solutions offer flexibility in that you can access your money before the end of the fixed period, you may not earn the full advertised interest rate if you take this option.

It’s worth doing your research and comparing the AER with other fixed-term deposits to make sure you’re getting the best interest rate. Other savings products may offer higher interest rates than An Post Savings Bonds, depending on market conditions.

When it comes to savings accounts, Irish households are increasingly turning to options in other European countries. At Raisin, we’re keen to break down the barriers in European banking. You can apply to open savings accounts across Europe through one secure online platform. Deposits of up to €100,000 per person, per bank are protected by the national deposit guarantee scheme of the country where the bank is headquartered. It’s completely free to register. There are no account-opening or maintenance fees, and rates are set transparently by each partner bank.

When comparing Savings Bonds in Ireland, focus on the AER (annual equivalent rate) rather than the “total return”.

Often, the “total return” is highlighted for Ireland State Savings products. This is a calculation which reflects how much you would earn on your lump sum over the course of, say, a 10-year term. However, it is stipulated in the Irish Consumer Protection Code 2012 that the percentage AER must always be shown in advertisements for a savings or deposit account. The AER is often a more meaningful figure.

For example, if you were to put €1,000 into a National Solidarity Bond for 10 years, which has a total return of 22% as of February 2026, you would get back €1,220 at the end of the term. What it doesn’t mean is that you earn 22% per year. The AER, which in this case is 2.01%, shows the yearly interest rate including compounding, making it the more meaningful figure for comparing savings products.

While this is not subject to DIRT or other taxes, the interest rates may be lower than similar fixed-term accounts in mainland Europe with shorter durations.

The minimum duration for an Ireland State Savings Bond is three years, while our current minimum term deposit duration is just three months. Savers still benefit from the security of a fixed interest rate, but with a wider choice of savings terms to choose from than with Post Office Savings Bonds. Simply compare our offers and find one that suits you.

With Raisin, you can combine fixed-term accounts with flexible demand deposit offers from multiple partner banks, and our handy online platform enables you to keep track of all your savings in one place.

And it’s never been easier to save within Europe. Your savings are legally protected - up to €100,000 per person and bank, depending on the bank’s country of origin. This amount includes any interest you make on your deposit.

*https://www.ntma.ie/business-areas/funding-and-debt-management/state-savings