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Deposit account interest rate change at balance threshold

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  • 14-04-2015 7:12pm
    #1
    Red Alert
    Hosted Moderators Posts: 7,486 ✭✭✭


    I was recently posted a summary of sorts of my Dual Saver account. In it it states that the interest rate for both the lump sum and regular saving balance is 0.03%.

    Does this mean that once the balance goes over the ceiling amount that the entire balance is now subject to the low rate?

    If so, is there any prohibition on holding multiple deposit accounts in BoI?


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    #2
    Bank of Ireland: Elaine
    Closed Accounts Posts: 1,367 ✭✭✭Bank of Ireland: Elaine


    Hi Red Alert, 

    Thank you for getting in contact with us here on Boards.ie. 

    Once the lump sum balance reaches it's threshold as per your terms and conditions, it will sweep the funds into a lump sum rate. For further clarification on the specific terms and conditions and rates of your specific savings product please contact your account holding branch where a representative will be happy to discuss this with you. 

    Contact details of your branch can be found here on our website. 

    If we can help with anything else here, please don't hesitate to post again. 

    Thanks
    Elaine 


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