My wife has a meeting today with the BOI they are offering:10% after 3 and half years if we deposit a lump sum of up to €24k, that we have in another account with them which is earning a poor return. No access to money or we forfeit the 10%, which is a drawback. Deal or no deal anyone? Deadline is tomorrow.
Bank of Ireland offer
- Thread starter PATMAC
- Start date
G
Guest116
Guest
Is that 2.85% per year? You will get better than that e.g. 3% with NIB for up to 50,000 and you can withdraw money anytime you want (but you get less interest for that month if you withdraw).
No deal!
No deal!
DrMoriarty
Moderator
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- 5,173
That "deal" doesn't even make it into the best buys list.
If you can afford to tie up the money for three years, the best rate currently on offer is:
An Post Savings Certificates 17th issue
3 Years 3.23% (equivalent to 4.30% because these are not subject to DIRT at 25%)
Or you could put €20K away with Investec 6 Months @4.04% ** Best 6 Month rate
1 Year @4.50% ** Best 1 year rate
(Apparently the deadline for this is next Thursday?)
...and keep the balance in a demand account like Anglo Irish Bank: Premium Demand (currently paying 3.60%).
If you can afford to tie up the money for three years, the best rate currently on offer is:
An Post Savings Certificates 17th issue
3 Years 3.23% (equivalent to 4.30% because these are not subject to DIRT at 25%)
Or you could put €20K away with Investec 6 Months @4.04% ** Best 6 Month rate
1 Year @4.50% ** Best 1 year rate
(Apparently the deadline for this is next Thursday?)
...and keep the balance in a demand account like Anglo Irish Bank: Premium Demand (currently paying 3.60%).
Some good advise above pointing you to the best rates.
More evidence awful treatment of customers by BOI again. They encourage you to lock your money away for 3 years at such a low rate and give you a deadline of tomorrow. Disgrace.
More evidence awful treatment of customers by BOI again. They encourage you to lock your money away for 3 years at such a low rate and give you a deadline of tomorrow. Disgrace.
There is nothing unusual about free banking and BOI do not have the best current account offer. I suggest you check out the current account best buys here.
Narkyhead,
I too have a high interest current account with AIB.
To avoid maintenance and transaction fees, each fee quarter you need to:
1. Use your AIB Debit Card to make a purchase, and
2. Make a debit transaction using AIB Phone & Internet Banking e.g. pay a bill or top up your mobile
To earn interest you have to make a minimum lodgement of €1,500 each month to your account.
I too have a high interest current account with AIB.
To avoid maintenance and transaction fees, each fee quarter you need to:
1. Use your AIB Debit Card to make a purchase, and
2. Make a debit transaction using AIB Phone & Internet Banking e.g. pay a bill or top up your mobile
To earn interest you have to make a minimum lodgement of €1,500 each month to your account.
G
Guest128
Guest
You arent married to BOI are you?!! And even then you can leave them!
P
pfaulkner
Guest
Is BOI the worst out there.
- I would not say the worst but not the best either and certainly not the best for interest rates.
The "high interest account" with AIB earns a small 1% and only on the first 1,500 EUR.
I suggest you look at the Halifax option (and the T&C's that come with it) if you want to maximise current account interest.
Interesting but not a market leader, Anglo offer 3.5% for the same product with no minimum. Strangely competitive for BOI.
They are very close to "worst" in terms of giving customers a return on their money. For example, a lot of their on demand accounts pay a shocking 0.01%.
Like AIB, they take advantage of consumer inertia through their vast branch network.
Switching isn't overly awkward & you wouldn't have to worry about any of BOI's loopholes to jump through to get fee free banking & "high" interest either.