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Strategies & Market Trends : Value Investing
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To: Spekulatius who wrote (28016)9/6/2007 9:23:47 AM
From: gcrispin  Read Replies (2) of 78717
 
AIB is a rock solid bank, but you have to wonder about the Irish housing market.

finfacts.ie

Also, SSIA scheme that provided incentives for borrowers in Ireland has now expired. So some Irish deposits could be exiting. See explanation below.

The SSIA scheme opened on 1 May 2001 and entry to it closed on 30 April 2002. The scheme allows savers to subscribe to their SSIA account on a monthly basis for a 60 month period (minimum of €12.50 for first 12 months and a maximum of €254) and the Government provides a top-up (tax credit) of 25% of the value of subscriptions made in each month.

The accounts are due to mature between May 2006 and April 2007 depending on when the account was originally opened. When an SSIA account matures, the saver is entitled to the funds in the SSIA less Exit Tax at 23% on the profit made from the investment of both the saver’s subscriptions and the Exchequer contribution (subject to compliance with the conditions of the scheme). In order for an account to be matured, the account holder will be required to make a maturity declaration to his or her financial institution at any time within a period of 3 months ending on the maturity date. Information regarding SSIA maturity is already published on the Revenue website at www.revenue.ie.
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