With Prize Bonds you are eligible to win not just once, but every week - for as long as you hold the bonds.

On 16th December 2012 the National Treasury Management Agency announced a reduction in all State Savings interest rates. This changed, from 3% to 2.25%, the rate used to calculate the monthly prize fund.
The prize structure was changed to ensure that, despite the reduced interest rate, approximately the same number of prizes will be awarded each week.
The new weekly prize structure is as follows:

€1 Million Prize awarded on the last Friday of every month. €20,000 awarded each week, other than when the €1 Million prize is awarded.
5 €1,000 prizes.
500 €100 prizes.
Over 8,000 €50 prizes.

Prize Bonds are an integral part of the wider range of NTMA State Savings™ products offered to retail customers by the National Treasury Management Agency ( NTMA). When you put your money into any NTMA State Savings™ product you are placing your money directly with the Irish Government. All NTMA State Savings™ money is under the management of the NTMA. The repayment of all NTMA State Savings™ money is a direct, unconditional obligation of the Government.