Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.
Support MFO
Donate through PayPal
10% tax-free, but in euros: Ireland. 10-year term.
Just thought I'd share, in case anyone else can find a way to get your foot in the door. I've already received an auto-reply from them by email. After the holiday, I'll hear back from someone over there.
@Crash The table on page 2 of your second link shows this is 10% total (not per year) over 10 years, increasing very slowly to 10% total over that period.
Perhaps I misunderstand, as it seems odd to advertise such low returns these days. And the "cumulative bonus percentage" matches what appears to be the total return; nothing seems to be a "bonus". But an "Annual Equivalent Rate" of 0.96% sure seems like 10% total over 10 years, since (1.0096)^10 is 1.10. And the AER if redeemed early is pitiful.
@orage thanks! it appears that it might not be worth my time, then. 10 years is a long time to lock-up money. And if it's not compounding, then this seems to me like a shameless come-on.
This is Ireland's national State/savings bond program. See Table 1 under each category. So, 10% for 10 years means euro 1,000 principal bond will mature to euro 1,100. TR is cumulative (typical default), not annualized. There is some bonus too, but I didn't spend more time on details.
US I-Bonds or 5-yr TIPS (held to maturity) are MUCH better, so are the US T-Bills/Notes.
Reply from the Irish side of the pond regarding my eligibility to buy that 10-year item:
Thank you for your email.
Yes you are eligible once you have a PPSN number the address can be registered to the USA. A cheque or bank draft can be posted to Inpayments, State Savings, GPO, Dublin 1. Personal cheques or bank drafts should be made payable to NTMA State Savings. If your wife does not hold a PPSN number she would not be able to make the purchase held jointly with yourself.
The application should be accompanied by original or certified* copies of identification for each applicant:
Proof of name e.g. current passport, driving licence
Proof of address e.g. current household bill, bank/building society statement
Proof of PPS number e.g. document from Dept of Social protection or Revenue, P60, Social Services, EU/HSE Health Cards).
*Certified Copy - You may bring the original documents to any Post Office where a Post Office Official can photocopy the original to certify it is a true copy of the original. Alternatively you can bring the original documents to a Member of An Garda Siochána/Police or a practising Solicitor/Commissioner for Oaths where they can photocopy the original and stamp it to certify it is a true copy of the original.
************************************************** Couldn't get past Square One: I don't hold a PPSN number, and don't plan to do it.
Comments
Is that to say it's 10% simple--- not compounded--- interest?
US I-Bonds or 5-yr TIPS (held to maturity) are MUCH better, so are the US T-Bills/Notes.
Thank you for your email.
Yes you are eligible once you have a PPSN number the address can be registered to the USA. A cheque or bank draft can be posted to Inpayments, State Savings, GPO, Dublin 1. Personal cheques or bank drafts should be made payable to NTMA State Savings. If your wife does not hold a PPSN number she would not be able to make the purchase held jointly with yourself.
The application should be accompanied by original or certified* copies of identification for each applicant:
Proof of name e.g. current passport, driving licence
Proof of address e.g. current household bill, bank/building society statement
Proof of PPS number e.g. document from Dept of Social protection or Revenue, P60, Social Services, EU/HSE Health Cards).
*Certified Copy - You may bring the original documents to any Post Office where a Post Office Official can photocopy the original to certify it is a true copy of the original. Alternatively you can bring the original documents to a Member of An Garda Siochána/Police or a practising Solicitor/Commissioner for Oaths where they can photocopy the original and stamp it to certify it is a true copy of the original.
**************************************************
Couldn't get past Square One: I don't hold a PPSN number, and don't plan to do it.