Best Buy Term Deposits (Fixed Lump Sum Savings)

Discussion in 'Deposits' started by CiaranT, Jan 16, 2009.

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  1. CiaranT

    CiaranT .

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    Last edited: Jan 1, 2017
    Rates are frequently updated. Information last changed: 31 December 2016.

    Highest Term Deposit Rates

    1 Year - KBC - 1.05%
    2 Years - PTSB - 1.00%
    3 Years - PTSB - 1.10%
    4 Years - KBC - 0.80%
    5 Years - State Savings - 0.98% Tax Free


    Selected Term Deposit Rates

    KBC: Extra 12 Month Fixed Term Account
    • 1 Year 1.05%*
    • Minimum: €3,000
    • Maximum: €100,000
    • Access: At the end of the term.
    • *To open this account you must also open a KBC Extra Current Account which requires that at least €2,500 is deposited into the KBC Extra Current Account per month in order to avoid most fees.
    • Deposit Protection: €100,000 via Irish Deposit Guarantee Scheme.

    KBC: Interest Up Front
    • 1 Year 0.60%
    • Minimum: €3,000
    • Maximum: €1,499,999
    • Access: At the end of the term.
    • Interest paid within 16 days of account opening.
    • Deposit Protection: €100,000 via Irish Deposit Guarantee Scheme.

    KBC: Fixed Rate Account with withdrawal
    • 1 year 0.60%
    • Access: Up to 25% can be withdrawn during the term.
    • Minimum: €3,000
    • Maximum: €1,499,999
    • Deposit Protection: €100,000 via Irish Deposit Guarantee Scheme.

    KBC: Online Savings Accounts: Instant Interest Fixed Rate Account
    • 1 Year 3 Months 0.80%*
    • Minimum: €3,000
    • Minimum: €100,000
    • Online only.
    • Access: At the end of the term.
    • *It is mandatory to open a KBC current account in order to be able to open this account. A KBC Extra Current Account requires that at least €2,500 is deposited into the KBC Extra Current Account per month in order to avoid most fees.
    • Interest accrued can be withdrawn directly to a KBC current account only.
    • Deposit Protection: €100,000 via Irish Deposit Guarantee Scheme.

    KBC: Standard Fixed Rate Account
    • 3 Months 0.15%
      6 Months 0.45%
      9 Months 0.50%
      1 Year 0.80%
      1 Year 2 Months 0.80%
      1 Year 6 Months 0.80%
      3 Years 0.80%
      4 Years 0.80%
    • Access: At the end of the term.
    • Minimum: €3,000
    • Maximum: €1,499,999
    • Deposit Protection: €100,000 via Irish Deposit Guarantee Scheme.

    Permanent TSB: Interest First Savings Account
    • 1 Year 0.75%
      1 Year 6 Months 0.80%
      2 Years 1.00%
    • Minimum: €10,000.
    • Access: Early withdrawal possible subject to a fee.
    • This account pays interest within a month of account opening.
    • Deposit Protection: €100,000 via Irish Deposit Guarantee Scheme.

    Permanent TSB: Fixed Access Deposit Account
    • 1 Year 4 Months 0.80%
      5 Years 1.10%
    • Minimum: €5,000
    • Access: Penalty-free access to 25% of your deposit during the term.
    • Deposit Protection: €100,000 via Irish Deposit Guarantee Scheme.

    Permanent TSB: Fixed Term Accounts
    • 3 Months 0.30%
      6 Months 0.50%
      9 Months 0.60%
      1 Year 0.75%
      1 Year 6 Months 0.80%
      3 Year 1.10%
      5 Years 1.10%
    • Minimum: €10,000
    • Access: At the end of the term.
    • Deposit Protection: €100,000 via Irish Deposit Guarantee Scheme.

    Permanent TSB: Online Fixed Term Deposits
    • 3 Months 0.30%
      6 Months 0.50%
      1 Year 0.75%
    • Minimum: €5,000
    • Access: At the end of the term.
    • Online only.
    • Joint accounts not allowed.
    • Deposit Protection: €100,000 via Irish Deposit Guarantee Scheme.

    Nationwide UK (Ireland): Loyalty Euro 12 Month Fixed Rate Savings Account
    • 1 Year 0.65%
    • Minimum: €3,000
    • Maximum: €2,000,000
    • Access: Instant access to your money before maturity but early withdrawal is subject to a 90 day interest penalty and account closure.
    • To open this account, the customer must already have an account open with Nationwide UK (Ireland) and must have maintained the minimum balance required in that account for a period of at least 12 months.
    • Deposit Protection: The euro equivalent of £85,000 via UK Financial Services Compensation Scheme effective 30 January 2017.

    Nationwide UK (Ireland): Interest at Maturity
    • 6 Months 0.50%
      1 Year 0.55%
      2 Years 0.60%
    • Minimum: €3,000
    • Access: Instant access to your money before maturity but early withdrawal is subject to a 90 day interest penalty and account closure.
    • Deposit Protection: The euro equivalent of £85,000 via UK Financial Services Compensation Scheme effective 30 January 2017.

    Nationwide UK (Ireland): Monthly Interest
    • 1 Year 0.50%
    • Minimum: €3,000
    • Access: Instant access to your money before maturity but early withdrawal is subject to a 90 day interest penalty and account closure.
    • Interest paid on a monthly basis to a nominated account.
    • Deposit Protection: The euro equivalent of £85,000 via UK Financial Services Compensation Scheme effective 30 January 2017.

    Investec
    • 3 Months 0.15%
      6 Months 0.15%
      1 Year 0.40%
    • Minimum: €20,000 minimum. Maximum: €2,000,000.
    • Access: At the end of the term.
    • If you do not inform Investec prior to maturity date where you want to money wired to, Investec place the lump sum in a one month notice account.
    • Deposit Protection: The euro equivalent of £85,000 via UK Financial Services Compensation Scheme effective 30 January 2017.

    EBS: 12 Months Fixed Savings Account
    • 1 Year 0.35%
    • Minimum: €10,000
    • Access: At the end of the term.
    • The above rate is only available to existing customers.
    • One penalty free withdrawal of up to 30% of capital available.
    • Deposit Protection: €100,000 via Irish Deposit Guarantee Scheme.

    EBS: Fixed Save
    • 3 Months 0.10%
      6 Months 0.20%
      9 Months 0.25%
    • Minimum: €10,000
    • Access: At the end of the term.
    • Deposit Protection: €100,000 via Irish Deposit Guarantee Scheme.

    EBS: 15 Months
    • 1 Year 3 Months 0.35%
    • Minimum: €3,000
    • Access: At the end of the term.
    • Deposit Protection: €100,000 via Irish Deposit Guarantee Scheme.

    EBS: SureGrowth
    • 2 years 0.35%
      3 years 0.35%
      5 years 0.35%
    • Access: At the end of the term.
    • Deposit Protection: €100,000 via Irish Deposit Guarantee Scheme.

    EBS: Half Yearly Sure Income
    • 2 years 0.35%
      3 years 0.35%
      4 years 0.35%
      5 years 0.35%
    • Minimum: €5,000
    • Access: At the end of the term.
    • Deposit Protection: €100,000 via Irish Deposit Guarantee Scheme.

    Bank of Ireland: 365 12 Month Fixed Term Deposit Account
    • 1 Year 0.30%
    • Minimum: €5,000
    • Maximum: €1,000,000
    • Access: At the end of the term.
    • This product is only open to those that have a BoI current account and are also registered users of 365phone or 365online .
    • Deposit Protection: €100,000 via Irish Deposit Guarantee Scheme.

    Bank of Ireland: Advantage Fixed Term: No access
    • 3 months 0.05%
      6 months 0.10%
      9 months 0.20%
      1 Year 0.25%
      1 Year 6 Months 0.40%
      2 Years 0.50%
    • Minimum: €5,000
    • Maximum: €1,000,000
    • Access: At the end of the term.
    • Option of getting interest paid monthly.
    • Deposit Protection: €100,000 via Irish Deposit Guarantee Scheme.

    Bank of Ireland: Advantage Fixed Term: 10% Access
    • 6 months 0.15%
      9 months 0.20%
      1 Year 0.25%
      1 Year 6 Months 0.35%
      2 Years 0.45%
    • Minimum: €5,000
    • Maximum: €1,000,000
    • Access: Access to 10% of the deposit during the term.
    • Option of getting interest paid monthly.
    • Deposit Protection: €100,000 via Irish Deposit Guarantee Scheme.

    Bank of Ireland: Growth
    • 3 Years 0.60%
      4 Years 0.69%
      5 Years 0.79%
      6 Years 0.88%
      7 Years 0.97%
    • Minimum: €5,000
    • Maximum: €249,000
    • Access: At the end of the term.
    • Deposit Protection: €100,000 via Irish Deposit Guarantee Scheme.

    Ulster Bank: Fixed Term Deposits
    • 6 Months 0.30%
      1 Year 0.40%
      2 Years 0.45%
      3 Years 0.50%
    • Minimum: €15,000
    • Maximum: €500,000 for terms up to 1 Year. €1,000,000 for the 2 year and 3 year terms.
    • Access: Early withdrawal only allowed if "exceptional circumstances" exist and is subject to fees.
    • At the end of the 12 and 6 month terms withdrawal instructions must be provided. If not, your deposit will be automatically renewed for the same term at the prevailing rate.
    • Deposit Protection: €100,000 via Irish Deposit Guarantee Scheme.

    AIB: Online Fixed Term Deposit
    • 1 Year 0.30%
    • Minimum: €25,000
    • Maximum: €100,000
    • Access: At the end of the term.
    • Online only.
    • Deposit Protection: €100,000 via Irish Deposit Guarantee Scheme.

    AIB: Select Term Deposit Accounts
    • 6 Months 0.20%
      9 Months 0.20%
      1 Year 0.20%
      1 Year 6 Months 0.20%
      2 years 0.25%
    • Minimum: €25,000
    • Access: If the term of your account is 6 months or greater, you may make a once-off withdrawal of up to 10% of the balance, providing the required minimum balance of €15,000. No further withdrawals are permitted. If the term of your account is less than 6 months, you cannot make a withdrawal from your account until maturity.
    • Deposit Protection: €100,000 via Irish Deposit Guarantee Scheme.

    RaboDirect: Fixed Term Accounts
    • 4 Years 0.05%
      5 Years 0.10%
      10 Years 0.25%
    • Minimum: €500.
    • Access: At the end of the term.
    • Monthly, quarterly and semi annual interest payment options available subject to lower rates.
    • 10 year term deposits are not suitable for most savers. You should only consider this product if you are certain that you will not need access to your money at any stage over the next 10 years. You should also be aware that you take on considerable upward interest rate risk by fixing for 10 years.
    • Deposit protection: €100,000 via Dutch Deposit Guarantee Scheme.

    NTMA: State Savings: 3 Year Bonds: Issue 17
    • 3 Years 0.33% Tax Free
    • Minimum: €50
    • Maximum: €120,000 (or €240,000 from joint applicants).
    • A normal deposit account would need to be paying 0.49% to match this rate if your deposit interest is currently taxed at 39%*.
    • A normal deposit account would need to be paying 0.52% to match this rate if your deposit interest is currently taxed at 43%*.
    • *These rates have been pre-announced as 33% and 37% in 3 years which has been factored into the calculation. More information here.
    • Access: Early withdrawal is possible but is subject to interest penalties.
    • Deposit Protection: Unlimited via Irish government sovereign debt guarantee.

    NTMA: State Savings: 4 Year National Solidarity Bond: Issue 6
    • 4 Years 0.50% Tax Free
    • Minimum: €50
    • Maximum: €120,000 (or €240,000 from joint applicants).
    • A normal deposit account would need to be paying 0.75% to match this rate if your deposit interest is currently taxed at 39%*.
    • A normal deposit account would need to be paying 0.79% to match this rate if your deposit interest is currently taxed at 43%*.
    • *These rates have been pre-announced as 33% and 37% in 4 years which has been factored into the calculation. More information here.
    • Access: Early withdrawal is possible but is subject to interest penalties.
    • Principal and Encashment Bonus are only paid to the holder upon maturity (or early encashment) of the bond.
    • Deposit Protection: Unlimited via Irish government sovereign debt guarantee.

    NTMA: State Savings: 5 Year Savings Certificates: issue 22
    • 5 Years 0.98% Tax Free
    • Minimum: €50
    • Maximum: €120,000 (or €240,000 from joint applicants).
    • A normal deposit account would need to be paying 1.46% to match this rate if your deposit interest is currently taxed at 39%*.
    • A normal deposit account would need to be paying 1.56% to match this rate if your deposit interest is currently taxed at 43%*.
    • *These rates have been pre-announced as 33% and 37% in 4 years which has been factored into the calculation. More information here.
    • Access: Early withdrawal is possible but is subject to interest penalties.
    • Deposit Protection: Unlimited via Irish government sovereign debt guarantee.

    NTMA: State Savings: 10 Year National Solidarity Bond: Issue 6
    • 10 Years 1.50% Tax Free
    • Minimum: €50
    • Maximum: €120,000 (or €240,000 from joint applicants).
    • A normal deposit account would need to be paying 2.24% to match this rate if your deposit interest is currently taxed at 39%*.
    • A normal deposit account would need to be paying 2.38% to match this rate if your deposit interest is currently taxed at 43%*.
    • *These rates have been pre-announced as 33% and 37% in 4 years which has been factored into the calculation. More information here.
    • Access: Early withdrawal is possible but is subject to interest penalties.
    • NB: As the interest penalties for early withdrawal are significant on this account, you should only consider this product if you are certain that you will not need access to your money at any stage over the next 10 years. 10 year term deposits are not suitable for most savers.
    • You should also be aware that you take on considerable upward interest rate risk by fixing for 10 years.
    • Deposit Protection: Unlimited via Irish government sovereign debt guarantee.

    Notes:
    • A term deposit is a deposit held at a financial institution that has a fixed term. These are generally short-term with maturities ranging anywhere from a month to a few years. When a term deposit is purchased, the lender (the customer) should understand that the money can only be withdrawn after the term has ended or in some cases by giving a predetermined number of days notice which is often subject to exit penalties.
    • All rates are AER unless otherwise stated.
    • All rates are subject to DIRT unless otherwise stated.
    • There are also best buy threads for variable rate instant access and notice accounts, current accounts and regular saver products.
    • Most credit unions pay very low rates on deposits and shares, but some pay good rates. It might be worth your while investigating the rate offered by your local credit union.
    • Post any questions, comments or suggestions in the deposit forum.
    • Products above are for personal customers only.
    Tax on deposit interest:
    • Deposit income is taxable via: (1) DIRT at 39% at source, exceptions apply to DIRT including for those aged 65 or over subject to meeting certain income criteria and (2) PRSI which is normally at 4% if you have unearned income over €5,000 per year, if you are aged 16 or over and aged 66 or under.
    • The NTMA State Savings products that are listed above are DIRT exempt.
    Instructions by maturity date:
    • When a term deposit matures, your financial institution will apply a default instruction, if the customer does not give the financial institution an instruction, as to what to do with the maturing amount. Default instructions typically include actions such as the financial institution moving the money to an instant access account at a low rate, the financial institution moving the money to a notice account at a low rate or the financial institution reinvesting the money in a new term deposit often at a far less favorable rate. Hence, ensure that you give an instruction to your financial institution before maturity date as to what you want to occur on maturity date. It is advisable to place a reminder in your calendar to ensure you don't forget.
    Updates:
    • If you want email updates on term deposit rates, you can subscribe to this thread.
     
    Last edited: Jan 1, 2017
  2. CiaranT

    CiaranT .

    Posts:
    4,336
    Top post updated.

    Ulster Bank have reduced their term deposit rates.
     
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