An Post savings

mayfire

If I put some money in An Post savings bonds, how often is the interest paid to your account? And also if I withdraw early, how do they lower the interest? Do they take back interest paid already or is it in the current period?
I have some money I want to put into savings but need to have access and An Post rates are attractive but it says the interest is reduced if early withdraws are made. How does it work? Thanks in advance.

Priapus

mayfire wrote: »

If I put some money in An Post savings bonds, how often is the interest paid to your account? And also if I withdraw early, how do they lower the interest? Do they take back interest paid already or is it in the current period?

Not sure how often interest is applied. If you withdraw early they pay interest accrued up to that point in time. So they don't lower the interest rate per se. You just don't get to receive the advertised yield. e.g. 10% over 3 years or 21 over 5 etc,.

MatureStudent

Interest is added annually, interest already added is not taken back.Interest for the period between the previous interest date and the date of withdrawal is paid at post office savings account rate (which is usually lower).

snubbleste

mayfire wrote: »

If I put some money in An Post savings bonds, how often is the interest paid to your account? And also if I withdraw early, how do they lower the interest? Do they take back interest paid already or is it in the current period?
I have some money I want to put into savings but need to have access and An Post rates are attractive but it says the interest is reduced if early withdraws are made. How does it work? Thanks in advance.

Have you read the Savings Bond information on the An Post website?
It surprisingly enough answers your questions

mayfire

Thanks for your help. The An Post website isn't as clear your replies.
Thanks again for constructive contributions.