ONE lucky person in Cork is €50,000 richer following this week's Prize Bond draw.

The bond, number ZY886745, is held in county Cork and was purchased in 2015.

Alongside the €50k grand prize, over 9,500 other prizes were awarded this week, amounting to over €790,100.

Prize Bonds are a State Savings product which, instead of paying interest, offers bond holders the chance to win cash prizes every week. All winnings are tax-free, and the bonds can be cashed in at any time after the minimum holding period of three months.

In addition to a €500,000 prize awarded on the last weekly draw of every calendar month, there are weekly draws where the top prize is €50,000. Other cash prizes awarded each week include 20 of €1,000 and 20 of €500.

Founded in 1957, the Prize Bonds draw is Ireland’s longest running prize draw. The unit price of a Prize Bond is €6.25 with a minimum purchase of four units, at a total cost of €25.

Prize Bonds can be purchased by direct debit, online at www.statesavings.ie, by telephone on 0818 20 50 60 or at your local post office.