7% Regular Savers

Any point opening one or two of these or is there a general consensus that rates will be tumbling in the near future?

No harm in opening those that have no lock-ins or restrictive terms & conditions. If the rates do fall dramatically then you can just take your money and run elsewhere.

Actually I've a query. For example with Halifax you need to keep saving for 1 year before you can close the account and get the savings. With Anglo-IB 2 years.

What happens if they change the rate while the expiry date still has to be reached? Can you still move the money elsewhere and get the interests? I don't think so...

With Halifax their [broken link removed] refer to rate of interest and bonus rate of interest but it's never been clear to me what the split is for their existing 7% (variable) rate. If you don't meet certain conditions (see section 3) then you don't get the bonus rate. Otherwise I think you are paid the "base" rate - whatever these are - I was unable to find out by browsing their website. If you are not happy with the rate but want to hold out until a year is up then you can change your lodgement to the minimum €10.

Anglo suggest that they close your account if you make a withdrawal:

Early withdrawals will result in your account being closed and the balance transferred to our Easy Access Account

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There is no suggestion that I can see that existing interest is affected though.

Halifax is a bit more tricky- from the T&Cs:

3.6 In addition to interest, the bonus rate of interest will be paid on your account on each account opening anniversary if, but only if, the following conditions are met in that year:-
(a) no more than two withdrawals have been made in that year from your account;
(b) your account has not been closed in that year by you or us; and
(c) all twelve monthly payments in the amounts set out in the application form have been made by you to your account in that year.

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Seems to suggest that you have to continue your monthly contributions for the 12 months to get the "bonus" interest. Not sure how that 7% breaks down though.

EDIT: Note all twelve monthly payments in the amounts set out in the application form though - although the T&Cs allow one change of this amount per year this suggests to me you don't get the bonus if you reduce your payment to €10.

I have a First Active RS already, was thinking of opening the Anglo-IB one and maybe EBS. This would be to drip a lump sum currently distributed between AIB and Rabo (15k to be moved to First Active's lump sum account as soon as they set that up for me.)

It is just a bit of a hassle to set up accounts if you are not an existing customer of the bank in question, especially as I don't have a driving license. Would not be worth it if the rates are all going to drop to ECB in a few months.

Thanks a lot for clarifying!

I've been assured by Anglo that I can close the account whenever I like and will get the 7% up to the closing date. It's only if you withdraw part of the savings that the balance is moved into a very low interest account. Also they told me I can miss as many monthly payments as I like, and adjust the monthly payment whenever I like. So if their 7% changes drastically, I'll do what I did with AIB regular saver - find a new home!