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Interest Rate for Regular Saver Extra Issue K account

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  • 25-02-2023 1:33pm
    #1
    Evil_g
    Registered Users Posts: 552 ✭✭✭


    Hi. Does anyone know what the interest rate is for these accounts?



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    #2
    Bank of Ireland Reps
    Closed Accounts Posts: 1,293 ✭✭✭Bank of Ireland Reps


    Hi there,

    Thanks for getting in touch with us.

    Please see here Deposits FAQ's KBC - Bank of Ireland

    There is no change to the amount of interest you’ll earn as a result of your account(s) transferring to BOI.

    For variable rate accounts, the rate you were on immediately before the service transfer date applied but, as with any variable rate, we can vary it. We’ll confirm the interest rate on your deposit account(s) in our communication 4 letter.

    For fixed term accounts, if you have an interest upfront account, interest has already been paid to you and no further interest will be paid at maturity. If you have an instant interest account, we will pay any accrued interest to you on request.

    BC divided the annual interest rate by 360 to calculate the daily interest rate. BOI divides the annual interest rate by 365 to calculate the daily interest rate.

    We do this whether the rate of interest is positive or negative. When we pay interest to you on your deposit, we call it positive interest. When we ask you to pay us interest on your deposit, we call it negative interest.

    The difference means that the same annual interest rate results in slightly less interest whether positive or negative.

    What this means for accounts with a positive interest rate:

    Where we pay positive interest we made a small adjustment to your interest rate to make up this difference so that the amount of interest you earn each day with us will be the same as it was in KBC as long as the annual interest rate does not change.

    Bank of Ireland has a dedicated team to help you with your queries.

    If you’ve a question about any of our communications you have received, please don’t hesitate to contact Bank of Ireland’s KBC Transition Support team on 0818 210 290, 8am – 8pm Monday – Friday (excluding bank holidays) or +353 1 250 0305 (if calling from outside Ireland). From 4 February to 25 March our support team will be available on Saturdays 10am-2pm.

    Thanks,

    Declan



  • Options
    #3
    Evil_g
    Registered Users Posts: 552 ✭✭✭Evil_g


    I had read all of that. That's why I was asking whether anyone knew what the interest rate was.



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    #4
    Bank of Ireland Reps
    Closed Accounts Posts: 1,293 ✭✭✭Bank of Ireland Reps


    Please contact Bank of Ireland’s KBC Transition Support team on 0818 210 290, 8am – 8pm Monday – Friday (excluding bank holidays) or +353 1 250 0305 (if calling from outside Ireland). From 4 February to 25 March our support team will be available on Saturdays 10am-2pm.

    Our colleagues will be able to advise further on this.

    Thanks,

    Declan



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