State Savings new issue

alwaysonit

Frequent Poster
Messages
91
When do we speculate a new issue of the 10 year bond will be released? Current one has been around a couple of years already - historically do they release a new issue every few years?
 
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4,912
New releases are normally on the Sunday of a public holiday weekend. Easter or May public holiday weekend are the next options. State Savings rates are not in like with deposit rates not sovereign yields so one would think that a review might come at some stage.
 

fayf

Frequent Poster
Messages
122
The 10 year state savings product, was reduced from 25 %, to the current 16%, over the June bank holiday weekend (Sunday)of mid 2016.

This was the most recent cut, and there have been a few cuts since the 10year product, yielded a gross total of 50 % (40 % return dirt free, 10 % subject to DIRT), a net 47% return approx, after DIRT.

Bear in mind, if you sign up, to any state saving scheme, you can withdraw, at any time, and get 100 % of original investment returned. It takes about 2 weeks to get your funds returned. Depending on the timing-of how long the funds were invested, determines how much interest is applied.
This early withdrawal/any time access -feature, is a major advantage of these products as peoples ( and life)circumstances, can change so quickly.

Its a reasonable assumption that there will be a further cut, so its probably a question of when, rather than if.
 

ardmacha

Frequent Poster
Messages
243
I have a State Savings 4 Year bond maturing.
Am I correct in saying that I can reinvest this although I already have the max and that I can do this in any product, not just the 4 year one?
 

The Ghoul

Frequent Poster
Messages
347
Yes, you can reinvest in the 4 year bond or in any of the other fixed term products regardless of the amount you already have in them. I have done this myself and brought myself over the 120k limits.

However I'm not sure if this applies if investing into/out of prize bonds - prize bonds may be treated differently.
 

Archer1

Registered User
Messages
18
I recently took out my 10 year solidarity bonds in individual bonds to make them easier to encash in case I need access to money. E.g. instead of taking out a single 10,000 euro bond, take out 10 bonds of 1,000 euro each. You can still pay for the lot with one check/bank draft. Hoping the interest rate will increase - you can just encash them and reinvest to new bonds.
 

Archer1

Registered User
Messages
18
The rates were great on all state savings going back. I did he max on the Instalment savings ( Issue 9) and on €12k had €14,400k at the end of 5.5 years. Today's rate will only give you something like €12,600 on same investment.
 

Duke of Marmalade

Frequent Poster
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2,918
I recently took out my 10 year solidarity bonds in individual bonds to make them easier to encash in case I need access to money. E.g. instead of taking out a single 10,000 euro bond, take out 10 bonds of 1,000 euro each. You can still pay for the lot with one check/bank draft. Hoping the interest rate will increase - you can just encash them and reinvest to new bonds.
Partial encashments are allowed
 

Duke of Marmalade

Frequent Poster
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2,918
I did not know that! I actually rang them up and asked in the PO and they encouraged me to do individual bonds if I thought that I might need access to some of the money.
The Ts&Cs clearly refer to partial encashments, but maybe it is less admin hassle to encash bonds in their entirety.
 
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