“Smart Poste Savings Book: 3 Ways to Earn Up to 2.50% Annual Gross Interest”

Saving with Postal Savings Books in Italy

One of the most common saving instruments in Italy is the postal savings book (LRP), offered by Cassa Depositi e Prestiti and distributed by Poste Italiane under the umbrella of postal savings.
These products are easy to subscribe to and manage.

There are no maintenance fees associated with these postal savings books, apart from tax liabilities stipulated by law, and they enjoy the guarantee of the Italian State, just like savings bonds.
The issuer provides several types and formats, including paper or dematerialized formats, catering to the needs of different subscribers.

Alongside the Ordinary, Judicial, and Minors’ books, there is the Smart book, which is considered the flagship product of the LRP lineup.

Earning Interest with the Smart Savings Book

Now, let’s explore three methods to earn a gross annual interest rate of up to 2.50% with the Smart Book.

Firstly, it’s essential to understand how cash, which is often kept in current accounts, typically yields no interest.
Actual liquid assets, while readily available for spending, usually accumulate no earnings at all.

Moreover, depending on where money is held, there could be fixed or variable costs involved.
Fixed costs, for instance, include losses due to inflation, which can affect cash in all forms, while variable costs might include monthly maintenance fees from financial intermediaries.
However, it is noteworthy that postal savings books do not incur management fees.

Nevertheless, a stamp duty of €34.20 applies to individuals if the total balance of all accounts in the same name exceeds €5,000 during the reporting period.
This duty is applicable to each book held, irrespective of the actual average balance in each one.

Maximizing Returns with the Supersmart Deposit

To mitigate losses and achieve gains, investing is an unavoidable path, perhaps in conjunction with minimizing expenses.
The Smart book allows for a bond activation through the Supersmart Deposit, boosting your savings.

The amount you can deposit depends on the issuing agency’s requirements being met by the account holder.

It’s crucial that you hold a Smart book and activate a bond.
Currently, there are three options for bond activation, each starting from €500 and can be deactivated at any time, although you will only earn the prevailing basic rate starting from the activation date.

Current Offers for Smart Savings Book Holders

Let’s delve into the details of the current offers, including eligibility criteria, duration, and yields.

The Supersmart Young Deposit caters to individuals aged 18 to 35 years, lasting 180 days, with a gross annual interest rate of 2.50% upon maturity.

Conversely, the Supersmart Pension Deposit targets recipients of INPS pensions, featuring a 364-day duration and the same interest rate of 2.50% at maturity.

Lastly, the Supersmart Open Deposit offers a slightly lower interest rate of 2.00% upon maturity, available to all Smart book holders.
This deposit has a duration of 360 days.