Prize Bonds are a State Savings product in Ireland: instead of paying regular interest, eligible bonds are entered into periodic prize draws. You do not need to sell the bonds to enter, and prizes are generally tax-free under the current rules, although these rules can change. If your bond does not win, its value remains available for repayment, subject to the applicable terms and procedures. Check the latest draw details, repayment arrangements and tax treatment with Ireland State Savings or on citizensinformation.ie.