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Prize bonds intrest rates

  • 16-04-2018 10:59am
    #1
    RossaP
    Registered Users, Registered Users 2 Posts: 2 ✭


    Hey so I was bought a prize bond back in 1994 a week after I was born, it won in 2002 of €75. Now I know unclaimed prizes do grow with interest after the first 6 months. Can anyone tell me the rates?
    What I thought was that it was
    2.25% per month upto 2013 and downwards then after that? Now it’s sitting on 0.50%?
    Any ideas what I’m owed? 16 years in full


Comments

  • #2
    Squatter
    Closed Accounts Posts: 1,841 ✭✭✭Squatter


    RossaP wrote: »
    Hey so I was bought a prize bond back in 1994 a week after I was born, it won in 2002 of €75. Now I know unclaimed prizes do grow with interest after the first 6 months. Can anyone tell me the rates?
    What I thought was that it was 2.25% per month upto 2013 and downwards then after that? Now it’s sitting on 0.50%?
    Any ideas what I’m owed? 16 years in full

    Wow! 2.25% a month!!!! A quick calculation using my fingers and toes reveals that you're owed in the region of €50,000 :D - and the really good news is that it's all tax-free!

    However, from 1st January 2018 no further interest (other than the interest accrued up to the 31st December 2017) will be paid when the prize is claimed.


  • #3
    coylemj
    Registered Users, Registered Users 2 Posts: 25,624 ✭✭✭✭coylemj


    RossaP wrote: »
    What I thought was that it was 2.25% per month upto 2013 and downwards then after that? Now it’s sitting on 0.50%?
    Any ideas what I’m owed? 16 years in full

    You've been seriously misinformed - 2.25% per month is an APR of 30.6%.


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