An post saving bonds questions

Have some questions about the below. Have 40k that I can put asside for 3 years, will this be my best option or should I go with a bank?
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3 Years 3.23% (equivalent to 4.30% because this product is not subject to DIRT at 25%) ** Best 3 year rate **
Note 1: €120,000 maximum
Note 2: Early withdraw is possible but is subject to interest penalties.
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Is it 3.23 or 4.30 percent you get?, Im not sure what this means. Its advertised as 3.23 on their webpage.

Whats the best way to get money from my current bank into the post office. Will there be a fee with this?

Can you withdraw the interest earned each year with no penalty?

Was also looking at the investec one year fixed deposit at 3.6 AER, is this a better option?

Do you think money is safer in post office that other options?

Is it best to split the money into two difference places? why?

Thanks for help.

All rates in the best buy thread are listed as gross AER rates.

4.30% is a grossed up AER rate. The rate you will get is 3.23% AER.

You can wire the money using online banking.

There is a penalty for withdrawals.

This is the best 3 year rate, if you can lock for 3 years you will not get a better rate elsewhere.

fungus said:

All rates in the best buy thread are listed as gross AER rates.

4.30% is a grossed up AER rate. The rate you will get is 3.23% AER.

You can wire the money using online banking.

There is a penalty for withdrawals.

This is the best 3 year rate, if you can lock for 3 years you will not get a better rate elsewhere.

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thx

Fungus, areyou sure you can wire money online to An Post. I asked in the local Post Office and they said no. Also I couldn't find any reference to it on theAn Post Website.

149oaks said:

Fungus, areyou sure you can wire money online to An Post. I asked in the local Post Office and they said no. Also I couldn't find any reference to it on theAn Post Website.

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You can't

The An Post T&C's are here:
http://www.anpost.ie/NR/rdonlyres/B592051E-D6D4-4157-835F-3E8A5481E988/0/InstalmentSavingsTandCs.pdf

Payments
Instalments may be paid:
• at any Post Office which transacts savings business or through any branch of permanent tsb;
• by arrangement with your employer under a Group Savings Scheme (see Paragraph 12 below);
• by bank direct debit;
• by post to An Post, Inpayments, 3D, GPO, Dublin 1.
• by electronic funds transfer by arrangement with An Post; or
• by any other method approved by An Post.

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Am I missing something or do An Post allow EFT's?

Fungus, the terms and conditions you have posted above relate to 'Instalment Savings,' which are totally different from Savings Bonds. The question asked is do EFT apply to Savings Bonds? I was aware EFT applied to Instalment Savings but do the same terms and conditions apply to Saving Bonds?

Okay, point taken that An post may allow EFT's for some savings products but not allow EFT's for other savings products. Seems strange.

I cannot see it clearly stated in their T&C's that EFT's are open to all products.

Their application form for An post Savings Bonds states that they accept cash, cheques and "other".

With National UK dropping their 2 year term to 3.25% AER are they still the Best Buy over 2 years? After DIRT 3.25% is equal to 2.44% . Saving Bonds give 5.2%, DIRT free, over two years. Am I correct?