The guaranteed rate for An Post savings certs has dropped to 25 per cent tax-free over five years and six months, or 4.14 per cent per annum. Savings bonds are down to 12 per cent tax-free over three years, or 3.85 per cent. Savings Certificate interest is calculated on a six-month basis. This is how £1,000 would grow after six months: £1,014; after one year: £1,030; after 1 1/2 years: £1,046; after two years: £1,063; after 2 1/2 years: £1,081; after three years: £1,100; after 3 1/2 years: £1,122; after four years: £1,146; after 4 1/2 years: £1,175; after five years: £1,210; after 5 1/2 years: £1,250.

You need to buy a minimum of £50 worth of certificates and there is a maximum limit of £60,000 per individual s or £120,000 for joint accounts. Savings Bond investors will earn a cumulative return of 3 per cent after one year, 6.3 per cent after two years and 12 per cent after three years.

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