AIB dropping deposit interest rates

AIB said "AIB insisted its rates remain competitive". Nah. The AIB 1 year term deposit rates (up to 0.30%) pay less than a third of the market leader(1.05%). The highest variable rate with AIB (0.15%) pays less then a third of the market leading variable rate (0.65%).

AIB said "It continues to offer leading market rates to its regular savers". Nah. AIB now pay 1.50% to regular savers. KBC and EBS (granted, an AIB subsidiary) pay double that at 3.00%.

seems hardly worth saving any more.

The rate cuts certainly don't help. Still most people need to save and still should try to maximise their return.
 
At a wild guess, EBS might also cut their 3.00% AER fixed Family Regular Saver rate on 1 April 2017. Hence, now might be a good time to avail of this rate.
 
I see AIB (and the best buy thread) now state interest is paid annually in April instead of in April and October - will this affect existing accounts?
 
Back
Top