An Post Savings Bond

V

VanZan

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I am quite interested in getting a 3 yr An Post Savings Bond. It might be a silly question but what is the best way to pay for it/invest it? On the application form it says payment by cash, cheque or other. I have €28000 in an Ulster Bank eSavings Plus account. I don't have a cheque book and obviously €28K in cash would be unwise. Would the best way be to get a bank draft for that amount payable to An Post and then head to my local post office? Would they accept that?
 
Re: An Post Savings Savings Bond

VanZan said:
I don't have a cheque book and obviously €28K in cash would be unwise. Would the best way be to get a bank draft for that amount payable to An Post and then head to my local post office? Would they accept that?
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Thats exactly what I did 6 weeks ago, draft cost, €2.50 and I got a receipt from local P.O. and they sent it off to Dublin. Took about 4 weeks before bond cert arrived.
 
Re: An Post Savings Savings Bond

Will €120,000 in a 5.5 year An Post savings bond/cert taken out this year and so will expire in 2015/6 be covered under the government guarantee scheme or will just €100,000 be covered?
 
Re: An Post Savings Savings Bond

Savings Bonds and Saving Certificates are fully State guaranteed, so to answer your question, yes, the full amount is State guaranteed.
 
Re: An Post Savings Savings Bond

'State guaranteed' as long as the state is solvent which is not guaranteed.

If we go the way of Iceland expect deposit withdrawal restrictions.

I like An Post and this product but best not to have all one's investments and savings eggs in Irish institutions and in cash in the financial system and best to spread it around in various liquid assets and various baskets internationally with a small allocation to gold.
 
Re: An Post Savings Savings Bond

George.shaw, very interested in your post and would welcome any advise re the institutions. Think it is sound advise but apart from Rabo and Northern Rock could you recommend any foreign banks? Thanks
 
Re: An Post Savings Savings Bond

Brianne said:
George.shaw, very interested in your post and would welcome any advise re the institutions. Think it is sound advise but apart from Rabo and Northern Rock could you recommend any foreign banks? Thanks
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For what type of savings product?
 
Re: An Post Savings Savings Bond

Going a bit off topic but I think Nationwide UK is a good institution to read up on if your looking for a safe non-Irish place for your savings.

I believe it is one the few banks / building societies not to get terribly mauled during the credit crunch. Rabo been the only other one I know.
 
Re: An Post Savings Savings Bond

Fungus, I would be interested in recommendations for deposit accounts in foreign banks like JysticX's suggestion. Thank you , MysticX
 
Re: An Post Savings Savings Bond

Brianne said:
Fungus, I would be interested in recommendations for deposit accounts in foreign banks like JysticX's suggestion. Thank you , MysticX
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I need more information.

What type of savings product? How much do you have to deposit? What are your main criteria when choosing the foreign bank?
 
Safety of the savings is the most important and a deposit type account with low risk and resultant low return is probably most suitable, maybe some long term savings and the amount is about 20.000 Euros..
 
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