National Solidarity Bond
The Minister for Finance, Mr. Brian Lenihan T.D., welcomed today’s announcement by the National Treasury Management Agency of the details of the National Solidarity Bond:
“I am very pleased to launch the National Solidarity Bond, which I announced in my Budget 2010 speech.
This bond is an innovative product from which everyone can benefit. Investors can play their part in supporting the economy through this bond which will help to fund the capital investment programme and develop important and necessary infrastructure, which in turn will help to create the conditions for the creation of additional employment.
In return, the Irish Government, acting through the National Treasury Management Agency, will provide a return on investment of 50% gross over ten years. After tax the net return will still be a very rewarding 47.5%.”
The Minister outlined that the National Solidarity Bond will be available for purchase in all Post Offices from Tuesday next, 4th May. The National Solidarity Bond is directly invested with the Irish Government for 10 years under the management of the National Treasury Management Agency and there are no fees, charges or sales commission attached to the bond.
While the minimum investment amount is €500 there is also a provision for regular savings of €25 which will be automatically invested in the Bond when your savings accumulate to €500.
The maximum individual investment is €250,000 or €500,000 from two joint investors.
Investors can have their money back at any time without penalty.
The longer you leave your money invested the greater the return:
· At the end of 5 years you will earn 15% Gross
· or the end of 7 years you will earn 29% Gross
· or at the end of 10 years you will earn 50% Gross
All details including brochures, application forms and Terms & Conditions will be available from this evening on:
Telephone 1850 30 50 60
Mail to State Savings™, GPO, Dublin 1
The Bond will be sold at all Post Offices from Tuesday next 4th May.
29th April 2010