An post savings bond and certs 3 and 5.5 year

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 :cool:
 
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