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NTMA launches State Savings products

The National Treasury Management Agency has announced new issues of fixed rate State Savings products as well as changes to the interest rates on variable rate products.

THE NATIONAL TREASURY Management Agency (NTMA) has today announced new issues of fixed rate State Savings products and changes to the interest rates on its variable rate products.

The new issues of the NTMA’s fixed rate products include:

  • 3-year Savings Bond (Issue 14) offering a 4 per cent fixed-rate total return (AER 1.32 per cent)
  • 4-year National Solidarity Bond (Issue 3) offering an 8 per cent fixed-rate total return (AER 1.94 per cent)
  • 5-year Savings Certificate (Issue 19) offering an 11 per cent fixed-rate total return (AER 2.11 per cent)
  • 6-year Instalment Savings (Issue 11) offering a 14 per cent fixed-rate total return (AER 2.41 per cent)
  • 10-year National Solidarity Bond (Issue 3) offering a 35 per cent fixed-rate total return (AER 3.05 per cent)

The NTMA announced changes to variable rate products, which will have an affect on all existing Prize Bonds as well as the 30-day notice Deposit Account Plus.

The rate reductions will only affect new purchases made from today and will have no affect on the existing holders of Savings Bonds, Saving Certificates, Instalment Savings or National Solidarity Bonds – all of which have fixed interest rates.

Changes

The top prize structure for Prize Bonds is changing, with the previous €1 million prize offered each month being scrapped in favour of a €1 million prize in the last weekly draw of each second month, ie February, April, June, August, October and December. The Prize Bonds fund rate will be changed to 1.75 per cent from today.

Meanwhile, the variable interest rate on the 30-day notice Deposit Account Plus is also being altered, and will now pay a variable rate of 0.5 per cent AER subject to the prevailing rate of Deposit Interest Retention Tax (DIRT) (currently 33 per cent).

There will be no change to the Ordinary Deposit Account.

“The new rates reflect the reductions in interest rates in the savings market and in Sovereign bond yields generally,” an NTMA spokesperson said today.

Read: NTMA and NAMA staff will lose exemption from new public pay cuts
Read: €500m worth of T-Bills sold at auction
Read: Another €500m of T-Bills for sale this week

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23 Comments
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    Mute Toby
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    Jul 28th 2023, 8:06 AM

    Every country France colonised is a mess now, recent coups in Mali, Burkina and Niger. Even France is a mess. Do we want to be in Europe as a bit player in their club?

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    Mute James Carroll
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    Jul 28th 2023, 8:51 AM

    @Toby: Yes.

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    Mute John Lonergan
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    Jul 28th 2023, 8:53 AM

    @Toby: cause the ones other countries colonised are all fine and dandy?

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    Mute Washpenrebel
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    Jul 28th 2023, 10:12 AM

    I would expect no one here realises that France is still has the biggest colonies in Africa. They countries they used to directly control, they now control their finances. Ie these countries reserves are stored in the French central bank. The French keep them poor and the enrich themselves with their resources. When a leader comes in they don’t like, they are removed. France is far from a democracy. In fairness to the British at least they left.

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    Mute Donal Desmond
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    Jul 28th 2023, 11:16 AM

    @Washpenrebel: In fairness the British left? Yes the British left after drawing lines in the sand that led to the deaths of millions between India and Pakistan. The mess they left behind in the Middle East is still going on to this day. The British Empire was just as bad as the French Empire. A legacy of murder and destruction.

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    Mute Washpenrebel
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    Jul 28th 2023, 12:37 PM

    @Donal Desmond: 100% agree with you. But the way the French still control former colonies is horrendous. There is a reason why the French foreign legion are still active all over Africa. Africa is still used as a resource to plunder a pillage from. The Congo being a perfect example with all its rich minerals.

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    Mute P.J. Nolan
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    Jul 28th 2023, 10:31 AM

    Washpenrebel.
    For anyone starting to read his comment just skip down to the last sentence.

    It’s handy when commenters make their agenda so obvious.

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    Mute Pato
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    Jul 28th 2023, 3:04 PM

    The British left did they? How come I still see them when I go to Enniskillen?

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