Savings books and postal savings bonds are still among the most popular forms of saving, even by savers in the Venetian province. In 2022, a year of strong economic uncertainty, 305,000 and about 403,000 were active, respectively.
For Poste Italiane, the reasons for this nearly centennial success (the first coupons were issued in 1924) are security, simplicity and transparency. In Italy there are more than 45.5 million postal savings bonds. With no administrative costs, placement or redemption commissions, these investment products are subject to preferential taxation and currently offer even more advantageous interest rates.
Postal savings represent the most stable form of private financing of public expenditure. This centrality of postal savings is emphasized by Matteo Del Fante, CEO of Poste Italiane: “We are proud to offer this service of general economic interest, which once again confirms Poste Italiane’s role as a strategic pillar of Italy.”
In addition to the traditional regular bonds, which have a term of 20 years and a total annual interest rate of 2.50%, it is possible to choose from different types of bonds with different terms. For example, a 3-Year Plus bond has a term of 3 years and an APR of 1.50% at maturity. On the other hand, 3×2, 3×4, and 4×4 bonds have a duration of 6, 12, and 16 years and an annual total interest rate at maturity of 2%, 2.50%, and 3%, respectively.
Then there is the Renew Coupon, which is intended for those who reinvest money derived from expired Postal Savings Bonds, for a period of 6 years and at a total rate of 3.25%, and the “Sustainable Saver Coupon”, for a period of 7 years with fixed incremental returns with a potential premium at maturity linked by the performance, if positive, of the STOXX Europe 600 ESG-X Index.
All postal savings bonds are guaranteed by the Italian state and can be repaid during the investment period with the return of the capital invested and any interest accrued. Moreover, it is exempt from subscription, management and redemption costs and from inheritance taxes, excluding excise duties and boasts preferential taxation of 12.5% on interest.
The savings account books, developed by Poste Italiane since 1875, are also available in various types to meet customer needs. All holders of the Smart Booklet can access the 180-day SuperSmart offer directly online, allowing them to earn a total annual interest rate of 1.50% on allotted amounts at expiry. In addition, from January 19, 2023 until March 6, 2023, excluding early closure, a 270-day Supersmart Premium offer is available for Smart Book holders who contribute new liquidity. Total annual interest rate on amounts set aside for new liquidity and reached maturity equals 3.00%
To subscribe to an interest-bearing postal savings certificate, open a passbook or activate the Supersmart offer, you can visit a post office or, if you have a BancoPosta account or a smart savings account passbook, browse the website www.poste.it or download the BancoPosta app.
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