Co-founder of Affari Miei
December 22, 2023
Are you looking for information on Savings bonds proposed by Intesa SanPaolo Bank?
Among the various solutions that Banca Intesa SanPaolo offers for invest your savings we also find i savings bonds.
As for the savings bondsthe institution we are talking about at the moment proposes this solution to recognize the customer with a more favorable rate of return compared to that which would be applied by the bank, on the sums that he places in the current account or in the nominative savings deposit book and which does not are used.
We are certainly talking about an investment that cannot promise who knows what returns: so don’t expect anything special.
But let’s see in detail what we are talking about.
This article talks about:
Two words about Intesa SanPaolo
As always, before seeing together in detail what savings bonds are, let’s focus for a moment on the bank that offers them.
Il Intesa SanPaolo Group is one of the Italian banking institutions best known to the general public. We are in fact talking about one of the main banking groups in Europe.
His market capitalization is equal to 41.1 billion euros. In Italy it is certainly among the top groups in terms of importance and notoriety, and is in fact committed to becoming a point of reference in terms of sustainability and social and cultural responsibility.
Some numbers can help to understand the size of the group: the Group in fact offers its services to 13.5 million customers, and has around 4200 branches throughout the national territory.
As for history, the group was born from the merger between Banca Intesa and Sanpaolo IMI, that is, two realities characterized by common values that have come together to serve families but also to help businesses develop and grow.
What are Savings Bonds
We can include this type of investment with that of deposit accountboth for the not too high yields and for the very low risk of the investment.
Lately, in fact, banks have been offering similar types of savings, both due to the ever-increasing uncertainties in the financial sector, and for other reasons linked to low risk and the desire to start making small investments anyway.
The tool that meets the requirements of:
Low risk
Safe investment
it is without a doubt the deposit account. It allows you to bind a sum that allows the customer to have a certain certain profit.
Intesa SanPaolo Bank However, it does not provide for the subscription of deposit accounts, but offers a very similar type of savings, i.e savings bonds.
Savings bonds are in fact the ideal solution that remunerates a part of the account balance or registered savings book more favorably, if it is maintained for the entire duration of the savings bond.
They can be subscribed to by any customer who owns or intends to subscribe to a current account, with the exception of the “Basic Account” and the “Pension Booklet for You”.
Subscription can take place in the branch, or on the internet after having signed the My Key contract.
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Characteristics of Intesa SanPaolo Savings Bonds
As we said before, by subscribing to a savings bond the customer will be granted a more favorable rate of return compared to that which would otherwise be applied by the bank to the current account contract or savings book.
We can summarize the main characteristics of Intesa SanPaolo savings bonds:
Higher remuneration than that applied to the account/booklet
Choice of amount and duration
No start-up fees
Certain investment in returns.
The sum that can be tied up ranges from a minimum of 1000 euros to a maximum of 100,000 euros, and an administered deposit is not necessary.
The contract provides that upon expiry, the remunerated sum will automatically be highlighted in the ordinary accounting entries of the current account or savings book. The interest is credited by the third working day following settlement.
The savings bond is flexible, as you can indicate any working day as the deadline and you can choose the amount within the limits we have seen previously. Furthermore, the customer can withdraw from the contract early, and the interest rate reduction will be applied, even if partial repayments are not permitted.
In addition, the savings bond is certain in performance because the interest is calculated from the effective date of the contract to the expiry date, and upon expiry the remunerated sum is immediately highlighted in the ordinary accounting entries of the current account or savings book.
An important feature is the possibility of being able to withdraw your money even before the constraint expires: this is an advantage to take into consideration, which is not present in classic deposit accounts which have more stringent constraints.
The duration is set at a minimum of 1 month, and a maximum of 24 months.
As for the interestsranging from a minimum of 0.01% nominal per year, gross of the withholding tax in force pro tempore, to a maximum of 1% when the investment is profitable.
Who is the product intended for?
Il Savings Coupon it is intended above all for those who seek a greater remuneration on their excess liquidity, which is precisely higher than that foreseen by the account or savings book, for those who do not plan to use the remunerated sum for the duration of the savings voucher, and to those who want the certainty that the rate applied on the remunerated sum remains unchanged for its entire duration.
Costs of Savings Bonds
The savings bond is one economic tool as there are no commissions or even expenses, except for the tax withholdings on interest, due to you, to the extent provided for by law, and furthermore the possession of a securities deposit.
No type of cost is applied either to opening or closing the account.
The risks
I typical risks are those relating to the impossibility for the customer to benefit from any increases in interest rates that have occurred on the market in the meantime, or those relating to the possibility that the bank cannot reimburse the customer, in whole or in part, the balance present in the account current account or savings account. Precisely for this reason the bank joins the Interbank Deposit Protection Fund which ensures each depositor coverage of up to 100,000 euros.
Affari Miei’s Opinions on Savings Bonds
As we have seen and as we well know, the institution is solid and safe, and the product I have presented to you is also a safe investment with low but still safe returns if seen from the perspective of a certain investment.
These products replace deposit accounts, which as we saw before Intesa SanPaolo does not offer.
As for the interest rateit is almost always below 1% per year: these are modest returns, but still a safe investment, so you need to evaluate what you are really looking for.
Since Intesa SanPaolo does not offer deposit accounts, if you are really looking for a similar investment, this tool could be right for you, always taking into account the fact that you cannot expect a completely advantageous investment.
It could be a safe investment if you are looking for a small income, but if you instead wanted to opt for higher returns, at this point it might be better for you to tie up your money for a longer period of time and therefore opt for a real deposit account.
Other Intesa SanPaolo tools for investing
If you are looking instead other investments of the Intesa SanPaolo Groupyou might want to check out these resources:
Here you can read some investment guides:
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