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20,000 invested in bond scheme

MORE than 20,000 people have invested €440m in the national solidarity bond, new figures have revealed.

The first 10-year bond scheme, which was launched 11 months ago, has proven to be popular with individuals looking for a stable savings scheme as the banking landscape changes around them.

The bond scheme is managed by the National Treasury Management and funds invested in the 10-year and four-year bonds are helping to stimulate economic recovery.

The 10-year investment, offers a gross return of 50pc, including 10 annual payments of 1pc.

Fianna Fail spokesman on Public Expenditure and Financial Sector Reform Michael McGrath TD (above) has said that a four-year bond has already succeeded in attracting almost 1,500 customers in just two months.

"Customers can sign up to the bond in their local post office and can invest anything from €100 to €250,000," he added.