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A.i.b new savings

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  • 08-03-2006 9:42pm
    #1
    Lorcul
    Closed Accounts Posts: 21 ✭


    What ye think of new ad for Aib on line savings offering higher interest on saving account or would rabo be better?


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    #2
    BuffyBot
    Registered Users Posts: 24,924 ✭✭✭✭BuffyBot


    It depends - do you want to put amounts in on a regularily and be committed to doing that on an ongoing basis, or put a lump sum in and leave it, topping it up now and again or withdrawing from it?


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    #3
    Lorcul
    Closed Accounts Posts: 21 ✭Lorcul


    I would be putting a regular amount in every month


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    #4
    BuffyBot
    Registered Users Posts: 24,924 ✭✭✭✭BuffyBot


    I believe AIB's newest online savings plan requires between 20 a month and 1000 to gain the high rate of interest. For lump sums or irregular amounts, Rabo might be the way to go.


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    #5
    Idleater
    Registered Users Posts: 6,236 ✭✭✭Idleater


    Read the terms and conditions associated with the interest rate. You only get the high rate if you make at most One deduction per year (Apr-Apr) and lodge between €20 and €1000 (max total) in any month. The "bonus" grows for 5 years then starts back low again. I think the claimed 3.75% (variable) is over the 5 years if you adhere to all the T&C in all the years.

    RD is 3.2% (variable) each year, unlimited lodgements and withdrawls.

    There are also charges associated with having the current ac in AIB. You will most likely end up with more value in accounts using a "free banking" current ac (like PTSB/BOI if you can wrangle it out of them and now I see Ulster bank are offering the same), and a RD/NR account.

    I had the AIB one but ditched it and put the money into RD instead. 1x 20c charge rather than 2x 20c.

    L.


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