ECB interest Rate 3.5%, deposit rates BOI 0%

bikedude

Why there is no change on any of the deposit rates in the BOI savings options or new options available on new deposit accounts?

Interest rate on mortgage was easily updated but not so quick on deposit options.

Possible ECB going up again, will BOI be reviewing the deposit rates anytime? Or offer any other deposit options for clients to reflect the ECB rates?

walterking

ECB deposit rate is 3%

Variable mortgage rates and fixed rates have not moved as much as the ECB.

Several other options out there if you are willing to switch

maninasia

https://www.boards.ie/discussion/comment/120489843#Comment_120489843

what options ?

bikedude

Preference would be to keep with BOI. But at the moment losing money leaving it in the account.

Quick search shown Permanent TSB has an option of 1.5 year for 3/5 years fixed.

Any other suggestions for deposit accounts with banks covered by the deposit guarantee?

Bank of Ireland Reps

Hi bikedude

Thanks for reaching out to us on Boards.ie.

Please see here Bank of Ireland Deposit Rates - Savings - Bank of Ireland

If you wish to discuss your query further please contact our deposit team on 0818 200 347 between 9am to 5pm Mon-Fri.

Thanks,

Declan

chrisgalway1

The ECB rate increased today (4th May) to 3.25%, but BoI still give 0% on my Saving Account with them. In contrast, NS&I in the UK give 2.2%, with instant no-notice withdrawal. I'm sure I'm not the only one fed up of being fleeced by Irish Banks!

Chris

walterking

https://www.boards.ie/discussion/comment/120554136#Comment_120554136

Buy their shares. I moved a chunk of my pension into aib and boi last year and very happy with the result 😁

jahalpin

NS&I is the UK state saving scheme so it would make more sense to compare them to the An Post state saving scheme rather than to a commercial retail bank

NS&I is also based in the STG area which attracts different rates of interest , the BOE base rate is currently 4.5%