10 Year National Solidarity Bond - Topping Up

Hey - trying to figure out the best savings options, advice welcome!

We're looking for the best place to save monthly children's allowance to save up for education etc in 18+ years.

I know the rate recently took a hit (we had the form filled and ready!) but is the 10 Year National Solidarity Bond rate of 0.96% AER (Tax Free) still a good no risk option?

A paper form is needed for registration before gaining access to the online account. Was thinking of adding another €1000 bond every 6-7 months then reinvesting in a shorter term option after they start maturing after 10 years.

Anyone have access to their online system? Easy enough to add more once you're setup?

Sound like a good plan??

The J Stands for Jay

The online system is only for setting up new investments, it won't so anything after that. Of you include the child's name on the account, the cheque will be issued with their name on it, as well as your own. This will cause issues with cashing, as you will need to set up a joint bank account with all the people named on the cheque.

Henry Ford III

1% won't even cover inflation. To make any sort of real return you need to invest and accept an element of risk

Henry Ford III

Henry Ford III wrote: »

1% won't even cover inflation. To make any sort of real return you need to invest and accept an element of risk

Looking for maximum return (or lowest loss against inflation) with no risk.

McGaggs

McGaggs wrote: »

The online system is only for setting up new investments, it won't so anything after that. Of you include the child's name on the account, the cheque will be issued with their name on it, as well as your own. This will cause issues with cashing, as you will need to set up a joint bank account with all the people named on the cheque.

Thanks for the info. But can you easily manage/view all your investments together on one account? Every 6 months would be a new bond added to the list.

Good shout on not including the child's name, we're keeping it in our names.

The J Stands for Jay

[Deleted User] wrote: »

Thanks for the info. But can you easily manage/view all your investments together on one account? Every 6 months would be a new bond added to the list.

Good shout on not including the child's name, we're keeping it in our names.

I've never managed to view it online. I filled in the forms with the child as beneficiary, and me and my wife as trustees. The cheque on maturity was made out to all three of us. We have been unable to cash it. Seemingly the only option is to set up a new bank account in all three of our names.

Any other trust based investment I've encountered would make the cheque payable to either the trustees or the beneficiary, as per the trustees' instructions (actually, they all just paid directly to a bank account, but An Post/State Savings aren't helpful in that regard).