Rabo Direct term Deposit

C

cisco

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Rabo are offering 5.10% over 6 months on term deposits

is this 5.10% for 12 months so really only 2.5% for 6 months

if i deposit 10,000 for 6 months how much interest will it earn
 
check if its 5.10% aer (annual equivelant rate) if not it should show the aer as well.
 
Term Deposits 1 - 11 months, Fixed, CAR. Term Deposits 1 - 5 years, Fixed, Gross Rate.

gone down to 4.95% for 6 months now

i really havnt a clue how this works, any advise would be appreciated.
 
The interest quoted is the Annual Equivalent Rate (AER).

If you deposit 10k for 6 months at 4.95% AER then the calculation is simple.

4.95% of 10k is €495. Therefore your term deposit will earn half of that: €247.50.

This interest is subject to DIRT, unless you're over 65 years old. It gets a bit more complex now because the DIRT rate is changing from January 1st 2009 to 23%, up from 20%.

As an example, if you opened the account at the start of November, then two months worth of interest would be subject to 20% tax and the remainder subject to 23%.

1/3 x 0.2 x 247.5 = €16.50
2/3 x 0.23 x 247.5 = €37.95
Total DIRT: €54.45

So you'll receive 247.50-54.45 = €193.05 in interest on your 10k for 6 months.
 
In the current climate, RABO appears to be losing its competitiveness in the deposit market.

I've been with them for a few years now, but I'm tempted to move.

As usual, inertia is the greatest enemy, coupled with the hassle of opening a new account elsewhere! :eek:

Oh, well..........

D.
 
Irish Nationwide and Halifax branches open on Saturday mornings, if that makes it easier to move.
 
Have two term deposits with them at the moment with decent rates, both mature at the end of the year/the new year.

Their rates now are very poor compared to their competitors. I`ll be keeping my current account with them @4.3% but will definitely considering moving some of the funds when they are frees up.
 
Is there any online site where I can get a table of up to date deposit rates offered by Irish based institutions?

Thanks.

D.
 
Have a look at the financial best buys thread on here and also check out itsyourmoney.ie
 
adox said:
Have two term deposits with them at the moment with decent rates, both mature at the end of the year/the new year.

Their rates now are very poor compared to their competitors. I`ll be keeping my current account with them @4.3% but will definitely considering moving some of the funds when they are frees up.
Click to expand...

Do Rabo really pay 4.3% on the current account they open for you alongside the Savings a/c? Sounds good, I didn't know that
 
My love affair with Rabo continues despite their poor rates. I just have the impression they know what they're doing. I can access my money online, move it around, spend it, no questions asked. Excellent customer service always. I thought about moving some dosh to Investec, but their corporate image is so bad I simply don't trust them. Look at all those typos! And the agents seem to be slightly unprofessional too.
 
agreed - the Rabo web site is intuitive and easy to use and customer service has always been spot on.
 
marshmallow said:
Do Rabo really pay 4.3% on the current account they open for you alongside the Savings a/c? Sounds good, I didn't know that
Click to expand...

Sorry as already mentioned its on a savings account. Having said that their savings account is more or less a current account.
 
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