New Italian postal savings bond offers semi-annual interest payments

A new postal savings bond, "Buono a Cedola," has been launched, offering two annual interest payments similar to government bonds. This five-year bond is guaranteed by the Italian state, has no management fees, and a 12.50% tax rate on interest, aligning with state securities. It allows for early redemption and has a minimum subscription of €1,000. The bond features a step-up interest rate, increasing annually, with the highest rate of 2.50% gross in the final year. It pays interest every six months, unlike other postal savings bonds.