Postal Savings Bonds (BFP) allowed generations of Italians to put their savings to good use at interest rates that did not fear competition. It was a time when financial markets were closed and certainly less complex than today. Italians invested almost exclusively in government bonds and specifically in postal savings bonds. Over time, interest declined, especially because Italians began to invest in the stock market and in more advanced financial instruments. There has certainly also been a drop in the rates offered, which in recent times have practically reduced to zero even for long time constraints.
Finally, a postal interest voucher has arrived which could prove interesting: until a few weeks ago, the most durable interest voucher was the 4 x 4 voucher, that is to say for a period maximum of 16 years. And in the sixteenth year it was possible to collect 0.75%. In February, Poste Italiane began distributing 5 x 5 interest-bearing bonds to customers. As you may have gathered from the same denomination, this is security that lasts up to a maximum 25 years old.
Obviously, the holder can decide to be reimbursed the principal first, even if in this case he obtains less interest, namely:
- after 5 years, it obtains a gross annual rate of 0.1%;
- after 10 years, it has 0.2%; after 15 years 0.4%;
- after 20 years 0.75% and after 25 years 1.5%.
If you divest before the end of one of the five years shown, interest is credited to you until the end of the previous five-year period.
Finally, a remunerated postal check arrived with an interest rate of around 1.5% and is very attractive to savers.
As you can understand, the maximum rate to which the saver is entitled at maturity is not high, but it is still higher than what has been recognized in recent years. With the inflation we have today, that also seems too little. But you have to think that in the next few years the rise in prices should decrease and the interest could cover a large part of the loss of purchasing power. Credit risk is practically non-existent. In fact, postal savings bonds are securities issued by Cassa Depositi e Prestiti, a company which belongs to the State.
The 5 x 5 voucher is accessible to all budgets, like all postal savings vouchers. The minimum denomination is 50 euros and multiples. This means that I can invest even a negligible amount. Interest is discounted at the same rate of 12.5% applied to government bonds, demonstrating that this is an investment comparable to the famous BTPs.
To subscribe, you can go to one of the Poste Italiane offices or stay comfortably at home by browsing the Poste website and purchasing the voucher chosen after registration. Even better if you download the BancoPosta app. On the La Poste website, it is also possible to simulate the capital at maturity before the purchase by investing the amount entered, so as to have a concrete idea of the sum which would be collected excluding taxes.