AIB: Regular Saver

M

madmoe

Registered User
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Hi all,
I currently have above 15 K in an AIB current account. I was thinking about setting up an AIB Regular saver account and transferring a regular amount of the 15K into it.

Would this be the best thing to do with it? I notice that it says ECB + 2.50 % to 01/01/2008 and ECB thereafter until 01/01/2009, as its not too far off from 01/10/2008 I won't really get the benefit of this.

All this stuff is pretty new to me.

Cheers,
M
 
Might be a bit late to consider AIB as their rate is uncertain after end of this year. Anyway they have a limit of €300 per month. Would you consider one of the other institutions e.g. EBS offer 7% and they allow up to €1,000 per month with good terms and conditions. I think their guarantee runs out at end of April. One wonders how long these high interest regular saving accounts will continue. I think Bank of Ireland are offering 6.75% for 18 months from time of opening account, maximum of €500 per month, so in long term could be one to consider.
 
AIB have a habit of advertising termination dates and then pushing them out if the competition have kept up -- e.g. interest on current accounts. Given banks want cash at the moment and FA have recently launched two high interest savings accounts, I expect AIB to keep their rates above the minimum advertised. Though I could be wrong :)
 
Had one of those annoying calls from AIB yesterday, the lady confirmed that the interest rate will revert to the ECB rate in the new year
 
I used to get those sales calls too, but they've given up ;)

the lady confirmed that the interest rate will revert
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Does she work in head office setting savings rates? If not, all she can do is confirm their currently published terms and conditions. I'd be surprised if they do revert to ECB in January. They've already extended bonus interest on current accounts twice.
 
Would this be the best thing to do with it?
Click to expand...

I worked out that transferring the max of €1,000 per month to a RSA at 7% p.a. equates to an AER of 3.32%. If you can get more than 4.5% on Rabo or elsewhere why bother?

Slim
 
surely it would make most sense to transfer all to Rabo, then drip feed into the RSA?
 
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