The Prize Bond Company has said that a record €279m was invested in Prize Bonds last year, almost double the amount invested in 2007.
Investments in September and October amounted to a total of €134m.
These appear to have been driven by fears over bank deposits, immediately before the Government introduced a bank deposit guarantee scheme.
Since the guarantee scheme was introduced, investment has fallen back to levels of around €25m per month, which is slightly above average.
Prize Bonds are a guaranteed State savings scheme that also offer investors the chance to win cash prizes.
The Prize Bond Company is holding three draws per year for jackpots of €1m each and eight draws per year for €500,000 each. All Prize Bond winnings are tax free.
The Prize Bond scheme is operated on behalf of the National Treasury Management Agency and moneys invested in Prize Bonds are counted as part of the national debt.
Founded in 1957, the Prize Bonds draw is Ireland's longest-running prize draw.
