PTSB to cut fixed rates on deposits?

Hi LongShot

Can you be more specific?

Are you saying that their fixed rates will be cut or that their SVR will be cut?

Brendan
 
Brendan, I think the OP is referring to deposits rather than mortgages.

For anyone interested in fixing, Permanment TSB rates to go south from Tuesday.

Thanks Longshot.

PTSB have the highest fixed term deposit rates on the market. A correction is overdue. You can bet that KBC won't be too long dropping their rates after PTSB.

I suspect that PTSB's variable deposit rates are also in for a correction.

That just leaves online today or tomorrow to grab one of the market leading PTSB fixed term deposit rates. One should act fast if they want to be paid 2.25% AER Fixed.
 
Hi Brendan, I spoke to a PTSB rep about the 1 year fixed account over the phone on Friday, and he said their rates are being reduced from Tuesday. Thats all know.
 
If I set up my account prior to these changes, am I still able to avail of the previous superior rate?
 
Thanks Ciaran. I checked and it's variable rate. Pity, I don't remember choosing that option or why I would but I suppose I must have

EDIT: just looked on PTSB website there and the account is advertised as variable rate. Perhaps there is no way to get a fixed rate on this instant access account. And there was I thinking deposit interest rates could only go up!
 
LOL!! Sure deposit rates have been going steadily down over last two years. As far as I know ,a fixed rate never applies to any account that isn't a fixed term. Otherwise they'd never be able to change the rate.
 
It's useless now keeping money in the bank, the interest rate is pitiful and then the government takes nearly half of it in DIRT. It would be nearly better to keep it under the mattress at this stage, in a fire proof tin of course!.
 
It's useless now keeping money in the bank, the interest rate is pitiful and then the government takes nearly half of it in DIRT. It would be nearly better to keep it under the mattress at this stage, in a fire proof tin of course!.
so long as your not robbed!! (is it only €500 of cash that can be covered by insurance?)
Yes interest rates are pitiful now, banks are going to find it very hard to get people to save money now.
 
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