The savings bonds dedicated to under 18s provide a gross annual return of 5% until they reach the age of majority. Issued by Cassa Depositi e Prestiti and guaranteed by the State, these savings instruments can be subscribed for starting from 50 euros for children up to 16 and a half years old. Currently in Italy there are over 6.8 million vouchers for minors in circulation.
Characteristics of Vouchers for minors with 5% yield
Savings bonds dedicated to minors provide a gross annual rate of return of 5% until they reach the age of 18. The security is issued by Cassa Depositi e Prestiti, benefits from the direct guarantee of the Italian State and is distributed through the post office network and dedicated digital channels.
Subscription requires an initial minimum amount of 50 euros (and related multiples) and can be made in favor of children and young people aged between zero and 16 and a half years.
Upon reaching the age of eighteen, the interests accrued are added to the invested capital, making the accumulated sum available for the needs of adulthood, such as university studies, professional training or starting work activities.
Tax regime, absence of management costs and subscription methods
From a strictly financial and fiscal point of view, this savings instrument has some specific characteristics: there are no management, subscription or reimbursement costs, with the exception of fiscal charges.
The interest accrued is subject to a preferential taxation of 12.50%, similarly to that provided for government bonds, and the invested capital is totally exempt from inheritance tax.
The subscription can be made in paper format by any adult (parents, relatives or acquaintances), while the dematerialized method is reserved exclusively for the parents or legal guardians of the minor.
The system of dedicated booklets
The official data relating to the diffusion of postal savings published as of 30 June 2026 show that there are 6,840,313 savings bonds in circulation in the name of minors, for a total value deposited that exceeds 10.5 billion euros.
The analysis of the territorial distribution shows a high concentration of contracts in some specific areas of the country: Campania is in first place in the national ranking for the number of vouchers signed, followed by Lombardy and Lazio.
In parallel with savings bonds, the management of money intended for younger people is also organized through savings books dedicated to minors, whose highest share of subscriptions is recorded in Lombardy.
The booklets are structured into three distinct age groups (“I grow” up to 12 years, “I know” from 12 to 14 years and “I understand” from 14 to 18 years) so as to set up a gradual path of autonomy and learning linked to financial education.
