What happens when postal savings bonds expire? Everything you need to know to avoid unpleasant surprises.

Postal savings bonds are savings tools particularly appreciated by Italians. Among the characteristics that have contributed to the popularity of these instruments is the absence of the costs of issuing and subscribing to postal vouchers, as well as the application of preferential taxation.

Deadlines and dates to remember for postal savings bonds

There was a time when most Italians put aside their savings, for future years or for their children/grandchildren, using a well-known tool: the postal savings bond. Currently this option still represents the favorite savings tool for Italians.

Despite the fact that its performance has dropped significantly. But today we would like to focus on the consequences of a postal savings bond that has expired: what happens to the saver? Is there a risk of losing the sums of money?

Expiration of postal savings bonds: everything you need to know

The duration of postal savings bonds can be 20 or 30 years. Specifically, those issued that belong to the Z series have a duration of thirty years while those that belong to the A1 series last twenty years.

Prescription of the postal savings certificate

At the time of expiry, postal vouchers cease to be interest-bearing. Based on the provisions of the regulations, postal savings bonds may become statute barred. This situation occurs when the repayment of the principal and the payment of interest does not occur within 10 years of the maturity of the bond.

When the postal savings certificate expires, the holder of the same no longer has the possibility to collect the sum of money. For paper postal savings bonds issued by 13 April 2001, which have not been redeemed ten years after expiry, the statute of limitations starts in favor of the Ministry of Economy and Finance.

For paper savings bonds issued from 14 April 2001 and not redeemed, within ten years of expiry, the amount is paid to the fund established at the MEF. As regards dematerialized postal savings bonds, there is no statute of limitations as, upon expiry, they are automatically reimbursed into the holder’s postal savings book or BancoPosta current account.

It is therefore necessary to pay particular attention to the expiry of the postal savings bond and the possibility that it becomes statute-barred. To avoid this eventuality just check by accessing the personal area of ​​the Poste Italiane website. Alternatively, you can go to a post office with your paper postal savings voucher and ask for information.