Poste Italiane launches Bonds for Minors: yields up to 6%

Newpostal bonds for the savings of minors are coming onto the market from today. Poste Italiane has indeed started to place a new series of postal savings bonds dedicated to minors (from zero to 16½ years of age). The voucher dedicated to minors can be given by anyone - parents, relatives, grandparents or friends - and accrues interest until the child in whose name it is issued comes of age.

At the age of 18, the security becomes non-interest-bearing and, if not redeemed, becomes statute-barred ten years after maturity. However, early redemption is possible at any time, with the authorisation of the Tutelary Judge, with the right to the return of the invested capital and, after 18 months from subscription, the payment of accrued interest. In the event of early redemption before the age of 18, however, a gross annual nominal interest rate of 0.50% will apply. The gross annual yield may be as high as 6% depending on the age of the child at the time the bond is subscribed.

The maximum duration also varies depending on the age of the child at the date of subscription. The small saver can also choose the amount to be subscribed in small sums, starting from a minimum of EUR 50. The holder of the postal voucher can count on the preferential taxation of 12.50% and, in addition, the vouchers themselves are exempt from inheritance tax. The maximum amount that can be subscribed, by a single person on the same business day, at one or more post offices and/or by telematic subscription, is EUR 1 million. Buoni Fruttiferi Postali are issued by Cassa Depositi e Prestiti, guaranteed by the State, and placed exclusively by Poste Italiane. They always guarantee the repayment of the invested capital and the holder can request repayment of the capital plus any accrued interest at any time. There is also no cost for subscription and redemption, except for tax charges.