E
An Post: Savings Bonds
3 Years 3.23% (equivalent to 4.30% because this product is not subject to DIRT at 25%) ** Best 3 year rate **
Note 1: €120,000 maximum
Note 2: Interest is not accrued on a daily basis, it is accrued each year from date of purchase. You can withdraw at any time during the term but you will loose any non accrued interest.
An Post: Savings Certificates 17th issue
5.5 Years 3.53% (equivalent to 4.70% because this product is not subject to DIRT at 25%) ** Best 5.5 year rate **
Note 1: €120,000 maximum
Note 2: Interest is not accrued on a daily basis, it is accrued each six months from the date of purchase. You can withdraw at any time during the term but you will loose any non accrued interest.
An Post: ChildCare Plus Savings
5 Years 3.37% (equivalent to 4.21% because this product is not subject to DIRT at 25%)
Note 1: €120,000 maximum
The wording in the 'Best Buys' may be contributing to your confusion. In fact, there are two different products. Saving Bonds are for the 3 year term and Saving Certificates are for the 5.5 year term. Their terms and conditions are slightly different. The main points to remember are, if a depositor intends leaving the money for 3 years Saving Bonds are the better product. If a depositor intends leaving the money for the longer term of 5.5 years Saving Certificates are the better product. Another difference is when interest is added. With Saving Certificates interest is added every 6 months on the anniversary of the date they were purchased. With Saving Bonds interest is added every 12 months on the anniversary of the date they were purchased. I hope this answers your question and clarifies any confusion.
If interest on the savings bonds is added on after the 12 months anniversary, whats to stop me withdrawing my savings and getting an interest rate of 3.23% (equivalent to 4.30%) after one year? There by making the best fixed rate on the marked over 1yr
Hello,
I have a question regarding the maximum holding of Saving Certificates one is allowed to have.
It says on the brochure that if you are single you are allowed to hold 120,000 euro worth except where as I understand it (and this is my question) you reinvest all or some of the proceeds of maturing Installment Savings, Saving Bonds and other Saving Certificates into buying further Savings Certs.
Accordingly your holding of Saving Certs can exceed the 120,000 limit if you keep reinvesting and the limit only applies if you buy Saving Certs with new monies as it were.
Am I right in my interpretation?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?