I have 10K currently earning no interest in my current account.
I was considering taking out a savings bond for the 10K, thereby earning 10% over 3 years, tax free. However, I am aware that I would make significantly less interest if I were to need to cash-in the bond before the end of its 3 year period.
My question is, can I instead, take out ten seperate €1000 savings bonds. Therefore if I needed some of my cash early I could just cash-in a few of the bonds early, losing some interest on them but still gaining the full interest on the remaining bonds that run full term.
The terms and conditions seem to suggest that I can take out a bond for as little as €100 and have a maximum holding of €120,000. This implies that I could have up to 1200 bonds active at the same time during a three year period.
I was considering taking out a savings bond for the 10K, thereby earning 10% over 3 years, tax free. However, I am aware that I would make significantly less interest if I were to need to cash-in the bond before the end of its 3 year period.
My question is, can I instead, take out ten seperate €1000 savings bonds. Therefore if I needed some of my cash early I could just cash-in a few of the bonds early, losing some interest on them but still gaining the full interest on the remaining bonds that run full term.
The terms and conditions seem to suggest that I can take out a bond for as little as €100 and have a maximum holding of €120,000. This implies that I could have up to 1200 bonds active at the same time during a three year period.