The history of postal savings bonds began in 1924, they were in fact introduced to encourage the spread of savings among the population. Since then they have accompanied entire generations, becoming a constant presence in Italian families so much so that in 2025 alone, together with postal savings books, they achieved a total collection of 320 billion euros.
The reason for this success is linked above all to the perceived security: they are in fact issued by Cassa Depositi e Prestiti, placed on the market by Poste Italiane and guaranteed by the State. Furthermore, they have no subscription or reimbursement costs and operation is very simple even for those with little financial experience.
So what are the best postal savings bonds of May 2026, those that offer a yield of up to 4%?
The characteristics of postal savings bonds
Postal vouchers can be purchased at post offices or online and are available in both paper and dematerialized formats.
If you choose the first option, a physical document is issued which must be carefully preserved. In fact, it will be necessary to present it at the time of reimbursement at the post office.
Dematerialized BFPs, on the other hand, only exist in digital format and are more practical to manage. To subscribe to them, however, it is necessary to have a settlement account, such as a postal savings account or a BancoPosta current account, registered in the same name as the voucher holder. The main advantage of this last solution is the simplicity of operations. In fact, upon maturity, both the principal and the interest are automatically credited to the linked account, without the need to go to the counter.
The best of May 2026 are:
- vouchers dedicated to minors;
- the 4-year premium voucher;
- the 3×4 with prize;
- the ordinary ones;
- the 8-year coupon coupon;
- the voucher renews for 4 years.
Vouchers dedicated to minors
Among the best postal savings bonds of May 2026 are those dedicated to minors up to 16 and a half years of age with interests that accrue until they reach adulthood.
You can sign in paper form if you are a parent, acquaintance or family member as long as you are an adult.
In dematerialized form only if you are the legal guardian or parent. In the latter case it is necessary to be the owner of a Smart savings book or a BancoPosta current account, alternatively the vouchers can be purchased directly from the minor’s booklet.
The gross annual returns of these securities are as follows:
- 2% after 1 year and 6 months or 2, 3, 4 and 5 years;
- 2.25% after 6 or 7 years;
- 2.50% after 8, 9, 10, 11, 12, 13, 14 or 15 years;
- 3% after 16 years;
- 4% after 17 or 18 years.
For the purchase the applicant must bring these documents:
- health card on plastic support or tax code;
- Italian or EU country identity card;
- Italian driving license;
- Italian or EU passport;
- non-EU passport together with a sworn translation if it is written in a language other than English.
Instead, the following are needed for the minor:
- health card on plastic support or tax code;
- identity card or passport;
- birth certificate.
Premium voucher 4 years
For short investments, the best postal savings bond is the 4-year Premium which lasts 4 years.
However, it is not a security that can be subscribed to by everyone but only by those who have a Smart or ordinary savings account and bring new liquidity from 3 April 2026 by 7 May 2026, unless the offer is closed early. The new liquidity can only be provided in these ways:
- crediting of salary or pension;
- payment of bank checks or bank drafts;
- bank transfer.
The new money paid into postal savings books or BancoPosta accounts can then be transferred to the Smart savings book to purchase the security using a girofondo.
The effective annual return on the 4-year Premium voucher is 3%.
Finally, reimbursement can be requested at any time but before four years you are only entitled to recognition of the amount invested and not interest.
3×4 postal vouchers with prize
The 3×4 postal vouchers with premium have a duration of 12 years and offer predefined and increasing returns which are recognized after the 3rd, 6th, 9th and 12th year.
The refund can be requested at any time but before three years you will only receive the capital net of any tax charges.
The conditions in force from 8 April 2026 are as follows:
- 1% gross annual effective return after the 3rd year;
- 1.50% after the 6th year;
- 2% after the 9th year;
- 2.50% after the 12th year.
The actual gross annual yield including premium at maturity is:
- 1% after the 3rd year;
- 1.50% after the 6th year;
- 2% after the 9th year;
- 2.87% after the 12th year.
The gross premium, exclusively at maturity and solely on the nominal value, is 6%.
Ordinary postal savings bonds
Among the BFPs that offer higher interest rates there are also ordinary ones that last 20 years.
The returns on these securities are fixed and increasing and recognized starting from the 1st year. It means that before twelve months in the event of a refund you will only receive recognition of the money deposited and not the interest.
From the conditions in force from 24 June 2025, it can be seen that the gross annual returns at the end of each period are:
- 0.75% after 1-2-3-4 years;
- 0.90% after 5 years;
- 1.04% after 6 years;
- 1.14% after 7 years;
- 1.25% after 8 years;
- 1.36% after 9 years;
- 1.47% after 10 years;
- 1.57% after 11 years;
- 1.64% after 12 years;
- 1.75% after 13 years;
- 1.86% after 14 years;
- 1.97% after 15 years;
- 2.07% after 16 years;
- 2.18% after 17 years;
- 2.28% after 18 years;
- 2.37% after 19 years;
- 2.50% after 20 years.
Postal savings bond with an 8-year coupon
The postal coupon coupon is a convenient solution for those who want interest paid by crediting quarterly coupons.
It lasts 8 years and offers the following gross effective rates of return at the end of each period:
- 1% after 1 year;
- 1.13% after 2 years;
- 1.25% after 3 years;
- 1.37% after 4 years;
- 1.50% after 5 years;
- 1.62% after 6 years;
- 1.74% after 7 years;
- 2% after 8 years.
Interest, net of taxes, is recognized through coupons on a semi-annual basis until the expiry of eight years.
The amount of each coupon is determined by multiplying the nominal value invested by the corresponding annual coupon rate divided by two.
In the case of one or more partial early repayments, for the purposes of determining the value of each coupon, reference will be made to the residual nominal value.
Coupon Renew 4 years
Finally, among the postal bonds that yield the most in May 2026 for short investments there is the Renew 4 years which lasts 4 years and offers a default rate of return at maturity which is 2% gross per annum.
However, it is not a security that can be subscribed to by everyone but only by those who have repaid expired vouchers, except those dedicated to minors and 4-year simple savings vouchers, starting from 15 September 2024 and during the placement period.
They can also be purchased if you have repaid thirty-year ordinary vouchers after the end of the fruitfulness period or if the Supersmarts have expired from 1 October 2024.
Some performance examples
Assuming you want to invest 3,500 euros in some postal savings bonds, the calculator made available by Poste Italiane shows that you will obtain an effective return at the end of the period of:
- 3,752.45 euros with 4-year renewal vouchers;
- 3,884.37 euros with 4-year Premium vouchers;
- 4,739.97 euros with 3×4 with premium of which 183.75 euros net premium at expiry;
- 5,455.77 euros with ordinary tickets;
- 497.68 euros with net coupons paid at maturity.
