Purchase limit on State Savings

Discussion in 'Deposits' started by Logo, Feb 3, 2018.

  1. Logo

    Logo Frequent Poster

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    I was informed that a 5-year saving cert is maturing at end of the month (issue 17). I want to re-invest again in the 5-year product but already have the maximum purchase per individual for issue 22 (i.e. €120K). Can a reinvestment exceed the 120K limit?
    Thanks in advance.
     
  2. noproblem

    noproblem Frequent Poster

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    If you're married and still trust each other :) you can both invest the maximum.
     
    Sue Ellen likes this.
  3. Logo

    Logo Frequent Poster

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    Thanks for the info noproblem but can the €120K limit per individual be exceeded by re-investment of an earlier issue?
     
  4. Gordon Gekko

    Gordon Gekko Frequent Poster

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    No, it cannot
     
  5. Logo

    Logo Frequent Poster

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    Thanks Gordon Gekko. I could be wrong but I was sure that limits could be exceeded when reinvesting - but maybe that was for reinvestment of bank saving accounts.
     
  6. Logo

    Logo Frequent Poster

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    179
    Last edited: Feb 3, 2018
    Apologies but maybe I should have researched more thoroughly before posting the query...

    1.3 There is no limit on Savings Certificates in Issue 22 that are held as a result of: (a) transfers to you in accordance with condition 17 (Death of a Holder) of the General Terms and Conditions; and/or (b) investment by you of proceeds on the maturity of your other Products.
    (Source: From http://www.anpost.ie/AnPost/downloads/statesavings/SavingCertRules2012.pdf)

    Or maybe I'm misreading this?
     
    Last edited: Feb 3, 2018