Details announced for National Solidarity Bond

The National Treasury Management Agency (NTMA) today announced details of the National Solidarity Bond.

The bond will pay a 50% gross return over 10 years and will be available for purchase in all post offices from Tuesday next, May 4.

The National Solidarity Bond was announced by Minister for Finance in his Budget 2010 speech.

Any money invested in the National Solidarity Bond is placed directly with the Government under the management of the NTMA and is 100% secure.

The minimum individual investment in the Solidarity Bond is €500 but savers can accumulate that amount through regular lodgements of €25 or more. The maximum individual investment is €250,000 or €500,000 from two joint savers.

There are no fees, charges or sales commissions attached to the bond.

Savers can access their money at any time without penalty but the longer money is left invested the greater the return.

Savers who leave their money invested for at least five years will earn a bonus payment in addition to the annual interest rate payable on the bond.

The maximum bonus payment will be earned by savers who leave their money invested for the full 10 years, earning a total gross return of 50%.

Full details, including brochures, application forms, terms and conditions will be available on www.StateSavings.ie this evening.