Minister for Finance Michael McGrath welcomes move and says it will support ‘valuable conduit’ for Exchequer funding
The tax-free return on a five-year savings certificate will increase from 5 per cent to 9 per cent, while it will increase from 5.5 per cent to 10 per cent on six-year instalment savings.
NTMA director of funding and debt management Dave McEvoy said the move in interest rates was designed to “seek a balance” between providing customers with a savings option and providing “long-term value” to the Exchequer as it manages the cost of borrowing. The increased prize fund will a top monthly prize of €500,000 in the last weekly draw of every calendar month, versus the previous top monthly prize of €250,000 in the last weekly draw of every calendar quarter.
When a person saves with State Savings, they are placing money directly with the Government, and repayment is an unconditional obligation of the Government.
España Últimas Noticias, España Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Five money changes in September with last €100 bonus, VAT hike and bank savingsSeptember is normally a very expensive month for people as families are sending their children back to school - here are the money changes that everyone needs to know
Leer más »
UBS to absorb Credit Suisse’s domestic bank, eyes €9bn in cost savingsDecision likely to face Swiss public and political backlash and lead to thousands of job losses
Leer más »
Housing Minister ‘has written’ to EU Commissioner for stricter regulation of short-term letsKieran was joined by Darragh O’Brien, the Minister for Housing, Local Government and Heritage to discuss today's constituency review from the Electoral Com...
Leer más »
Minister meets banks to discuss home owners’ interest rate challengeMichael McGrath urges lenders to engage with customers as Insolvency Service deals with ‘increased demand’ for services
Leer más »