Characteristics, premium and standard return, tax regime of postal savings vouchers 4 years simple savings.
4-year postal savings bonds are securities with a maximum term of four years and can only be subscribed by persons of legal age who have activated a savings plan known as “simple savings”. Here are the main features and information on the premium rate and tax regime.
Bfp 4 years simple savings
4-year postal savings bonds are securities that can only be subscribed to as part of the simple savings plan. They have a maximum term of four years and a premium return on maturity of 0.50% gross per annum. This is only if a minimum of 24 regular subscriptions are made under the savings plan.
This means that you will be able to save a little at a time: you will be able to set aside even small amounts at regular intervals in order to build up a small amount of capital for pension purposes over time. As said, then, the premium return will be reached with a minimum of 24 periodic subscriptions and will be applied on each voucher subscribed under the plan that will expire.
The vouchers 4 years simple savings: the co-investment
The 4-year bfp will be issued in dematerialised form exclusively under the “simple savings” savings plan. The duration, as announced, will be a maximum of four years and interest will only accrue at the end of the fourth year. These securities will be a safe product because they will be issued by the Cassa Depositi e Prestiti and guaranteed by the Italian State. In addition, they may only be subscribed by natural persons of legal age. Co-ownership will be permitted, but not more than four persons.
We remind you that this type of vouchers (dematerialized) will have the same header as the postal current account or postal savings book that will be necessary for their subscription. Finally, the latter will be for cuts of 50 euros and multiples is the maximum amount that can be subscribed by a single person on the same day will be 1,000,000 euros.
How to subscribe under the simple savings plan
The 4-year bfp savings will only be subscribed to in the “simple savings” savings plan for which they are planned:
- periodic monthly or bimonthly subscriptions. In detail every 5th or 27th of the month for a minimum amount of 50 euros and up to a maximum of 1,000 euros.
- 1 000 euros,subscriptions in addition to the day (minimum 50 euro maximum 1.000.0000 euro). They will not contribute to the achievement of the minimum number of periodic subscriptions to obtain the premium yield,
- reinvestment subscriptions. Amounts arising from the maturity of such bonds will be automatically reinvested under the savings plan itself for minimum amounts of 50 euros and multiples of 1 euro cent.
- Please note that each subscription will correspond to the issue of a single 4-year savings bond.
The effective gross annual rate of return at the end of each year will be 0.25% standard at the end of the fourth year and 0.50% premium at the end of the fourth year. The capital invested in these vouchers, however, may be repaid at any time but without interest. The redemption of joint holders, on the other hand, may be requested by all joint holders jointly or by each joint holder separately depending on the method chosen during the subscription and reported on the security.
Income earned on vouchers and fixed interest will be subject to the income tax substitute tax regime at the rate of 12.50%. It is recalled that these securities will be exempt from inheritance tax and stamp duty if, in total, their redemption value does not exceed €5,000.
Poste Italiane recalls that for vouchers issued in paper form before 1 January 2009 the tax will be calculated on the nominal value of the individual security. We would like to remind you that it will only be applied from 2012 on a proportional basis of 0.10%, 0.15% for 2013 and 0.20% from 2014 onwards. As far as the application is concerned, the proportional tax is applied to the nominal value (i.e. the capital invested) of each individual security every 31 December of the life of the voucher.
Finally, for paper bonds issued after 2009, the tax will be calculated on the nominal value of all bfp that are held both paper and dematerialized with the same header if the actual redemption value net of tax charges exceeds €5,000.
As far as tax is concerned, it will be applied only from 2012 on a proportional basis of 0.10%, 0.15% for 2013 and 0.20% from 2014.