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Irish Nationwide 7.35% regular saver

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  • 11-04-2008 2:21pm
    #1
    Colonel Sanders
    Closed Accounts Posts: 7,669 ✭✭✭


    nowt on their website yet but its being discussed here on askaboutmoney

    my anglo account matures in august, will, wait til I can read the T&Cs online before I commit but the more 7%+ regular savers out there the better!


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    #2
    stepbar
    Closed Accounts Posts: 6,123 ✭✭✭stepbar


    Ask yourself something.... Why is Irish Nationwide is offering such a good offer? When historically they've pritty much ignored the retail customer. Something is sturring in INBS me thinks......


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    #3
    Colonel Sanders
    Closed Accounts Posts: 7,669 ✭✭✭Colonel Sanders


    stepbar wrote: »
    Ask yourself something.... Why is Irish Nationwide is offering such a good offer? When historically they've pritty much ignored the retail customer. Something is sturring in INBS me thinks......

    they have offered competitive 1yr fixed bond rates and notice rates (fair enough with 20k minimum balances) for a while now. This account has been rumoured for a long time now, in response to the great regular saver rates offered elsewhere. Seeing as a lot of the rate guarantees are coming to an end why not launch now (especially when inter rate rates being high and banks trying to attract deposits)

    No offence stepbar but I have learned that you criticise every bank offer other than those offered by BOI and sometimes AIB (still not sure which one you work for :D)


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    #4
    stepbar
    Closed Accounts Posts: 6,123 ✭✭✭stepbar


    Thats fair enough. But... don't you think that because they have been late to market with products as above that there's something a bit fishy going on? Just my opinion discard if you want. But I know for a fact INBS is highly indebted on the commercial side of things, so you might want to think about that before you commit to anything.


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    #5
    orbital83
    Registered Users Posts: 208 ✭✭orbital83


    A lot of banks have become more "interested" in the retail market since the interbank market dried up.
    For instance, just two months ago, AIB relaunched their regular saver, paying a whopping 7.3%. That's just 0.05% shy of the INBS rate.

    Having said that, in current market conditions I'd advise against holding large sums at any one institution, no matter who they are. Most Irish banks are heavily exposed to commercial and residential property.
    The Irish deposit protection scheme pledges to return 90% of the first €22,222.22 of cash held at a bank.
    Following the Paddy's Day stockmarket massacre I've made sure to spread out my cash keeping that in mind.


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