Poste Italiane launches postal savings bonds for minors: the yield can reach 6%


By John

The new postal vouchers for the savings of minors are on the market from today. Poste Italiane has in fact begun to sell a new series of postal savings bonds dedicated to minors (from zero to 16 and a half years).

The voucher dedicated to minors can be given as a gift by anyone – parents, relatives, grandparents or friends – and accrues interest until the child to whom it is registered reaches the age of majority.

Upon reaching the age of 18, the security becomes interest-free and if it is not reimbursed, it becomes statute barred ten years after expiry. Early repayment is however possible at any time, upon authorization from the Tutelary Judge, with the right to a refund of the invested capital and, 18 months after subscription, to the payment of accrued interest.

However, in the event of early repayment before the age of eighteen, a gross annual nominal interest rate of 0.50% will be applied.

The gross annual return can reach up to 6% based on the age of the minor at the time of signing the voucher. The maximum duration also varies depending on the age of the minor on the date of subscription. The small saver can choose the amount to subscribe even in small sums, starting from a minimum of 50 euros.

The holder of the postal voucher can count on preferential taxation of 12.50% and, furthermore, the vouchers themselves are exempt from inheritance tax. The maximum amount that can be subscribed by a single person on the same working day, at one or more post offices and/or via electronic subscription, is equal to 1 million euros.

Postal interest-bearing bonds are issued by the Cassa Depositi e Prestiti, guaranteed by the State, and placed exclusively by Poste Italiane. They always guarantee the return of the invested capital and the owner can request reimbursement of the capital plus any accrued interest at any time. There are also no costs for subscription and reimbursement, except for tax charges.