BOI Discounted Tracker

[zombie]

1 Year Dis TKR ECB +0.85
2 Year Dis TKR ECB +0.95

Both roll to ECB + 1.25

(Assume I am going to go for one of these ignoring other institutions rates.)

As far as I can see since they both roll to the same rate then the 2 year option is the better value option, am I right?

 

[ClubMan]

Unless there are other terms & conditions it would certainly seem so.

 

[Ravima]

1.25 over ECB is quite high. Have you checked other insitutions?

 

[eggerb]

Forfeited these initial discount trackers with BOI for ECB + 1% from day one. This might be a better option in the medium/long term. Some number crunchers can probably advise?

 

[ClubMan]

Crunch the numbers yourself here perhaps?

 

[zombie]

Thanks, final question on it
Is the ECB+1.25 rate something that can change if the bank decides to become more competitive in the future with increased competition or are you tied to that rate once you sign up?

 

[ClubMan]

The whole point of a tracker is that the margin over ECB is set in stone. Check the terms & conditions for clauses that allow them to change it but it really should not be possible.