Written answers
Tuesday, 4 July 2023
Department of Finance
State Savings Schemes
Niall Collins (Limerick County, Fianna Fail)
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232. To ask the Minister for Finance the historical State savings rates for the past 20 years; and if he will make a statement on the matter. [32464/23]
Michael McGrath (Cork South Central, Fianna Fail)
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I am advised by the National Treasury Management Agency (NTMA) who manage State Savings, that when setting interest rates historically, the NTMA has sought to ensure that products remain competitive in the savings market generally, whilst providing good value to the Exchequer in terms of borrowing costs.
The following table outlines the Historical State Savings Rates for the past 20 years (2003-2023):
| Product | Date of issue | Date of cessation | Issue number | Maturity Rate |
|---|---|---|---|---|
| Savings Certificates - 5 Year | 23/12/1998 | 31/07/07 | 16 | 16.00% |
| 01/08/2007 | 15/12/12 | 17 | 21.00% | |
| 16/12/2012 | 01/06/13 | 18 | 15.00% | |
| 02/06/2013 | 07/12/13 | 19 | 11.00% | |
| 08/12/2013 | 04/10/14 | 20 | 10.00% | |
| 05/10/2014 | 04/06/16 | 21 | 7.00% | |
| 05/06/2016 | 23/01/21 | 22 | 5.00% | |
| 24/01/2021 | 26/03/23 | 23 | 3.00% | |
| 27/03/2023 | To Date | 24 | 5.00% | |
| Product | Date of issue | Date of cessation | Issue number | Maturity Rate |
| Savings Bond - 3 Year | 23/12/1998 | 31/07/07 | 11 | 8.00% |
| 01/08/2007 | 15/12/12 | 12 | 10.00% | |
| 16/12/2012 | 01/06/13 | 13 | 7.00% | |
| 02/06/2013 | 07/12/13 | 14 | 4.00% | |
| 08/12/2013 | 04/10/14 | 15 | 4.00% | |
| 05/10/2014 | 04/06/16 | 16 | 2.50% | |
| 05/06/2016 | To Date | 17 | 1.00% | |
| Product | Date of issue | Date of cessation | Issue number | Maturity Rate |
| Instalment Savings - 6 Year Term | 23/12/1998 | 31/07/07 | 8 | 15.00% |
| 01/08/2007 | 15/12/12 | 9 | 20.00% | |
| 16/12/2012 | 01/06/13 | 10 | 17.00% | |
| 02/06/2013 | 07/12/13 | 11 | 14.00% | |
| 08/12/2013 | 04/10/14 | 12 | 10.00% | |
| 05/10/2014 | 04/06/16 | 13 | 7.00% | |
| 05/06/2016 | 23/01/21 | 14 | 5.50% | |
| 24/01/2021 | 26/03/23 | 15 | 3.50% | |
| 27/03/2023 | To Date | 16 | 5.50% | |
| Product | Date of issue | Date of cessation | Issue number | Maturity Rate |
| National Solidarity Bond (NSB) - 10 Year Term | 01/05/2010 | 15/12/12 | 1 | 50.00% |
| 16/12/2012 | 01/06/13 | 2 | 45.00% | |
| 02/06/2013 | 07/12/13 | 3 | 35.00% | |
| 08/12/2013 | 04/10/14 | 4 | 30.00% | |
| 05/10/2014 | 04/06/16 | 5 | 25.00% | |
| 05/06/2016 | 23/01/21 | 6 | 16.00% | |
| 24/01/2021 | 26/03/23 | 7 | 10.00% | |
| 27/03/2023 | To Date | 8 | 16.00% | |
| Product | Date of issue | Date of cessation | Issue number | Maturity Rate |
| National Solidarity Bond (NSB) - 4 Year Term | 31/01/2011 | 15/12/12 | 1 | 15.00% |
| 16/12/2012 | 01/06/13 | 2 | 12.00% | |
| 02/06/2013 | 07/12/13 | 3 | 8.00% | |
| 08/12/2013 | 04/10/14 | 4 | 6.00% | |
| 05/10/2014 | 04/06/16 | 5 | 4.00% | |
| 05/06/2016 | To Date | 6 | 2.00% | |
| Product | Effective Rate | Rate Change | Deposit Rate | |
| Deposit Account | 01/08/2007 | 15/12/12 | 1.00% | |
| 16/12/2012 | 04/06/16 | 0.25% | ||
| 05/06/2016 | 23/01/21 | 0.15% | ||
| 24/01/2021 | To Date | 0.05% | ||
| Product | Effective Date | Deposit Rate | ||
| Prize Bonds | 01/06/1999 | 2.75% | ||
| 01/09/2003 | 2.40% | |||
| 01/08/2007 | 3.00% | |||
| 01/12/2012 | 2.25% | |||
| 01/05/2013 | 1.75% | |||
| 01/12/2013 | 1.60% | |||
| 01/11/2014 | 1.25% | |||
| 01/06/2016 | 0.85% | |||
| 01/07/2017 | 0.50% | |||
| 01/01/2021 | To Date | 0.35% |
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