They arrive on the market i new savings bonds dedicated to children up to 16 and a half years old. The initiative was launched Poste Italiane, with vouchers issued by Cassa Depositi e Prestiti and guaranteed by the Italian State. They can be given as gifts by anyone: parents, relatives, grandparents or friends, and grow in interest until the recipient's 18th birthday. There are no costs for subscription and redemption, except for tax charges. They are also exempt from stamp duty, if with a total redemption value of less than 5.000 euros. If higher, the current tax applies. The return? It goes up to 6%. Let's see how they work and everything you need to know to subscribe to them.
Poste Italiane savings bonds: what happens at 18?
Once you reach the age of 18, the voucher no longer generates interest and lapses if not is collected within 10 years from expiration. However, early repayment is possible subject to authorization from the Tutelary Judge. In this case, you are entitled to a refund of the capital invested and, 18 months after subscription, to the accumulated interest. If repayment occurs before the eighteenth birthday, a nominal gross annual interest rate of 0,5% will apply.
How long they last?
Also the duration maximum is different, depends on age of the minor when purchasing. You don't have to be rich, you can even start with 50 euros. And there is a 12,5% tax advantage, like a government bond and are exempt from inheritance tax. The yield starts from 2,5% gross in the first year and reaches 6% upon the owner's 18th birthday. You can buy up to 1 million euros of vouchers in one day, online or in post offices.
Savings vouchers for minors: how much do they yield?
Here the return gross annual effective at the end of each holding period:
- 1 year and 6 months 2,5%
- 2 years 2,5%
- 3 years 2,5%
- 4 years 2,5%
- 5 years 2,5%
- 6 years 2,75%
- 7 years 2,75%
- 8 years 3%
- 9 years 3%
- 10 years 3%
- 11 years 3%
- 12 years 3%
- 13 years 3%
- 14 years 3%
- 15 years 3%
- 16 years 4%
- 17 years 6%
- 18 years 6%.
The returns refer to the holding period and they cannot be combined: for example, if you subscribe to the Voucher when the child is 6 years old, the effective annual gross yield at maturity (at 18 years) will be 2,75%, calculated for the 12 years of ownership.
Sul Post Office website, a is available simulator to understand how much it is possible to earn over time based on the age of the minor and the value of the vouchers.
How do you sign up?
to subscribe postal savings bonds, it is possible to go to all post offices, providing the tax code and a valid identity document of the applicant together with the minor's documents (tax code, identity document and birth certificate, which can be requested directly in mail). Alternatively, you can do this online, via the official website or the BancoPosta app. However, to purchase online you must be the holder of a Smart Booklet to be able to register the voucher in your child's name.
