masterboy123
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I have multiple savings accounts with AIB. Can I check somewhere online how much interest (profit) I have earned?
AIB 2.77% 2 Year Deposit Until 12 May
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Homewardbound11
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When filing tax returns for interest on deposits ie AIB. . Is the 5,000 euro income limit per person before you need to fill in form 11 instead of form 12. Ie if you have a joint account and you are jointly assessed . Is the limit then 10,000 before you need to fill in a form11.
Not the answer you were hoping for…. It’s €5,000 per tax registration/return, so that remains the limit for joint assessments.
Yes, but don’t hang around, the account is cancelled automatically if you have not lodged to it. Also, it might be safer to think of it as six days; I set one of these up before Christmas and the lodgement was delayed awaiting funds was and when I attempted to lodge on the seventh day it wasn't accepted as the account had been closed. On that occasion I was fortunate as the rate I signed up for was still on offer when I set up another account.
This is dropping 0.5% on the 13th May; https://www.rte.ie/news/business/2025/0430/1510281-aib-cuts-deposit-and-mortgage-rates/
Should be - it's a fixed term and fixed rate account:
There is still a bit of time to get the 2.77% rate. AIB have provided much more notice this time of the change. The rate is available until 13 May. And you can fund the account up to 5 days thereafter.
RTE reporting that AIB are saying that "AIB continues to offer some of the most competitive savings rates in the Irish market, especially for customers who require instant access on their savings". This is somewhat misleading. AIB offer awful instant access rates on standard instant access products. AIB are clearly selectively referring to their regular saver product but it is not fair to compare the rate on this product to instant access rates on the market as a whole.
RTE reporting that AIB are saying that "AIB continues to offer some of the most competitive savings rates in the Irish market, especially for customers who require instant access on their savings". This is somewhat misleading. AIB offer awful instant access rates on standard instant access products. AIB are clearly selectively referring to their regular saver product but it is not fair to compare the rate on this product to instant access rates on the market as a whole.
Officially speaking you have no access to your money until maturity date.
However, access might be granted in certain exceptional circumstances. But it is not guaranteed.
Some other providers, like PTSB, state that you can gain access during a term but subject to a penalty. AIB don't state that.
If you might need access you the money over the next 2 years, you are better choosing a different product.
However, access might be granted in certain exceptional circumstances. But it is not guaranteed.
Some other providers, like PTSB, state that you can gain access during a term but subject to a penalty. AIB don't state that.
If you might need access you the money over the next 2 years, you are better choosing a different product.
Just double checking this as people might be rushing to open one of these accounts and intend transferring the money afterwards. Is it not 7 days (or 6 as some have recommended to be on the safe side) rather than 10 before the account automatically closes?
@Sue Ellen You are of course correct. The 10 days was a typo on my part and I have now edited the original to correct this. The T&Cs say 7 calendar days but based on my experience I would treat it as 6. See also post #88 above.
First off there is the following, from this page
Which sounds reasonable, however the Terms & Conditions for the AIB Fixed Term product are much more restrictive, make no mention of VERY EXCEPTIONAL CIRCUMSTANCES and allow for early repayment in the following circumstances: Death, Bankruptcy, Offset by AIB against other monies owed by you. That's it. There is no mention of Emergency, Hardship etc. So you would be appealing to AIB's better nature, and at their sole discretion, in looking for early repayment. You would face a high bar in the earlier days, however the chances of getting early withdrawal would improve in the final year because of the potential bonus to the bank in retaining the interest "earned to date".
I think your war scenario would almost definitely not be regarded as very exceptional circumstances as every other customer would be in the exact some situation.
Realistically, as @Lightning pointed out this is a fix term product and you should treat this money as gone for the duration. Given that you have a separate emergency fund you should probably be OK.
Also worth considering is the BOI Advantage Fixed Term Product which allows up to 25% of the original sum to be withdrawn at any time.