Government SSIA's

Dustaz

Did you get one?
Free money , its all good:)

Shiminay

If you want to get one be quick!!!

Here's what you'll need:

• Proof of your PPS (formerly RSI) number - bring your RSI card that you got in the post when you were 16
• Photo ID - my expired provisional drivers licence was enough for them, so I wouldn't be too stressed out about this one - anything should do
• You might require Proof of Address - a lecky or phone bill - mobile phone bills won't count

Good luck - free money going a begging!

Victor

Even sign up for the minimum amount of €12.70 per month and if you want you can increase the amount later. However if you don't join in the next few days (up to April 30), you will never be able to join.

po0k

The mother is signing me up for one today.
Kind of a late 18th birthday present.
A guy i know got a car.
I get a 'promise' of cash...in 5 years...4 and a half of which I have to pay.....

That 23% removal penalty is something that isn't half as well publicised either.
Can you reduce deposits down the road, even if you've previously increased it?
If not, make sure you can afford the commitment, cos it seems like it's worth it.

DC

Be careful when setting up the account at the last minute. I would suggest just using the same branch as your main current account (or whrerever the savings will be transferred from). That way there is less chance that the money transfer will be messed up.

If in doubt pay the first payment by cheque and the rest by transfer.

As soon as trhe first 12 months is up you can change the amount up or down. What happens after that I am unsure about - whether it is from year to year or month to month.....

bombidol

i signed up for the max i think its 200 euro a month, its my america fund.

bomb

Stephen

I've had one for ages, got it set up a few days after they first became available.

Mmm, free money.

Puck

Just got one... well just had my first amount of money taken and put into the account. It's cool to look at the accounts online and see that I have more money in there than was taken out of my other account.

Mmmmm free money!;)

Keeks

Originally posted by Kharn
[*]You might require Proof of Address - a lecky or phone bill - mobile phone bills won't count

Whats wrong with mobile phone bills? Its the same as any other bill. Its proof of address.

Cake Fiend

Call me severely ignorant, but WTF exactly is a Government SSIA?

KdjaCL

A saving scheme that gets you 25% interest PLUS whaterver interest your bank offers for the next 5 years
too good an oppurtunity to miss.
I Got 2 with BOI one for 10 years (only 5 with 25%).
And another for 5 years only (in wifes name).
And paying €200 into them a month.
well theres my mortage paid in 10 years time
Kdja

paddymee

Are they that good?

I've worked out that it's about 4 percent pa. Before DIRT.

What do you expect from the banks that manage it?

Wouldn't a indexed market fund return about the same, without the removeal penelty.

Paddy

KdjaCL

I looked at it as a longterm i knew of the removal penalty and hope there is never a need to use it.
But the 10 year option with BOI has 8% basic interest (for the 10yrs) + the ****loads of terms they throw at saying "figures based on previous performance"
I am looking at it bottom line save €20000 get gauranteed €25000 and then whatever interest it has accumulated in that time .
Too good to turn down.
I think the Post Office is still offering this but not sure .
they have a good deal on it too.
Kdja

Shiminay

Originally posted by Keeks
Whats wrong with mobile phone bills? Its the same as any other bill. Its proof of address.

Well, that's what I thought, and the guy wasn't able to fully explain why it was a problem, but I find there's no point trying to argue with the muppetry of Banks

strat

I signed up for the BOI investment one for the full whack ( €254 a month afaik ) its a corss between BOI's PIP savings plan and the SSIA - suppsoed to be a good deal, i went in to sign up and was marched into the manageers office where he proceeded to bleet at me for about half an hour it was getting to the stage where i wouldnt have gladly gave all my money if he would just stfu

Victor

Originally posted by paddymee
I've worked out that it's about 4 percent pa. Before DIRT.

There is no DIRT. There is however an exit tax of 23% on the interest.

If you withdraw early (before 5 years are up) it is applied to the full amount including your capital and the 25% bonus also (effectively negates the bonus).

po0k

I think we're getting it through Acorn Life