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an post savings

  • 11-09-2012 1:19pm
    #1
    ubeonek
    Registered Users, Registered Users 2 Posts: 136 ✭✭


    HI I am in my 60s and have some savings ,which I was thinking of putting into anpost ,as there are several types of schemes ,can any one give me some plain talking pros and cons as towhich one to go for,as always thanks again.


Comments

  • #2
    homer911
    Registered Users, Registered Users 2 Posts: 5,150 ✭✭✭homer911


    I presume you are talking about Savings Certificates and Bonds. These are now managed by NTMA, but administered by An Post

    http://www.statesavings.ie/Pages/default.aspx

    This is the main product brochure: http://www.statesavings.ie/Downloads/Brochure1.pdf

    The main differences between these products, apart from the rate, is the term of the deposit - use the AER to compare the overall returns. Some products may include bonuses which are only payable when you hold the deposit to maturity, so read the fine print. The advantage of all these products is there is no DIRT, and they are as safe as the state's credit rating (?!)

    There are minimum amounts you can deposit and each "deposit" is treated as a separate purchase which can be a pain if making subsequent "deposits"

    The only real negative is that the rate is fixed for the duration of the deposit, which means you dont benefit when rates rise as you would with a normal deposit account - you do though have a guaranteed return at the end of the period


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