An post savings bond and certs 3 and 5.5 year

Hi Fungus,

this link seems only for Saving cert, do you have one for saving bond?

thanks,
 
just wondering if anyone took out saving bond or saving certs and how long it took to receive confirmation from an post. I took out one on 21st nov and still haven't received anything yet. I rang an post today and was told it would take at least 4 weeks to process it. even the lady in the post office told me it would take 10 working days. and on the receipt it says contact an post if i don't receive anything within 21 days.
 
My last one took nearly 6 weeks but interest accrues from date of purchase so you're not losing out by not having the cert.
 
thanks Crunchie, i am not worried about interest as I know my a/c was opened on the day at the counter, but didn't realise it would take that long. and don't understand why it takes so long.
 
I bought mine 12th November, they only arrive this Monday. I had called before, they said there was a huge backlog. I found it very surprising that they didn't send the certificate as registered mail.
 
looks like a lot of people are going for it now. so i'd be lucky if I get mine before x'mas.

btw, robinvn, i don't think they send mail by registered post for any of their products.
 
I'm thinking of getting the 5.5 Years 3.53% option (equivalent to 4.70% because it's are not subject to DIRT at 25%) but cashing it in after about 2 years (because will need mortgage deposit).

To calculate the interest per 1K, do I simply multiply it as follows:

yr 1: 1K x 1.047 = 1,047
yr 2: 1,047 x 1.047 = 1,096

Is this correct? No penalties for early withdrawl either as far as I can see...
 
Your calculations are almost spot on. After 2 years a €1,000 saving cert is worth €1046. If you intend withdrawing after 2 years savings bonds are better i.e. €1,000 is worth €1,052. You are correct, no penalties for early withdrawal. However, be a little careful, for saving certs the interest is calculated every 6 months, for saving bonds the interest is calculated annually.
 
The penalty for early withdrawl is the lower interest rate you get i the beginning compared to the full period.
 
I bought a Savings Bond on 25th November, last in my local post offfice and still haven't received the certificate yet, is this unreasonable!
 
pudds said:
I bought a Savings Bond on 25th November, last in my local post offfice and still haven't received the certificate yet, is this unreasonable!
Click to expand...
Considering that you've signed up for a three year bond and there has been a big uptake, I feel you should afford them a little more time
 
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