10 year solidarity bonds

Discussion in 'Deposits' started by Haille, Nov 22, 2016.

  1. Haille

    Haille Frequent Poster

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    260
    I have approx €65,000 invested in 10 year solidarity bondsI got a rate of 25%.However that rate has reduced to 16% since the Summer.I have a 20 year tracker mortage[ interest only] so I have to pay off €140,000 in Sept 2027. Just wondering as I wish to invest more savings if the EBS regular Saver at 3 % less DIRT compares with the 16% over 10 years with the Solidarity bonds
     
  2. CiaranT

    CiaranT .

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    4,450
    The EBS Family Saver product is a regular saver product. You can deposit a lump sum. You can deposit up to 1,000 EUR per month. Also, the rate is only fixed for 1 year. You cannot directly compare this to the NTMA State Savings 10 year product.
     
  3. Toledo

    Toledo Registered User

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    36
    Haille, if you entered the 10 year solidarity bond at 25% it stays fixed for the next 10 years so you will earn the 25% as stated, that is, if you keep the bond for the full 10 years.( hence the term bond )
     
  4. Haille

    Haille Frequent Poster

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    260
    Many thanks Ciaran T and Toledo
     
  5. sunnydonkey

    sunnydonkey Frequent Poster

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    106
    They are really wrong to refer to the 25% as a 'rate'. I'm surprised the Regulator allows this. The rate is something less than 2%.
     
  6. dub_nerd

    dub_nerd Frequent Poster

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    1,330
    I'd be a stickler for that too, SD. But on a quick check of their site and their brochure they never use the word "rate" in connection with any of the multi-year savings products. It's always referred to as either a "return", "total return" or just "interest" and no value is ever given without the AER immediately adjacent in brackets.
     
  7. sunnydonkey

    sunnydonkey Frequent Poster

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    106
    That's interesting because I know they used to do this. Glad it seems to have been corrected.