Avant/Bankinter launch deposit product in Irish market

I wonder how they are selecting people for this product offering. Maybe those that opted in to be told about new products.

2.60% for 6 months is a market leading rate for that term. Interesting that they are starting with term deposits.
 
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I have turned on marketing preferences to be told about new products inside the Avant website (as I have their credit card) on the off chance that they will contact me.

Anyways, this product goes live in November 2025, so not long to wait.
 
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I just received an email from Avant with this offer. Copypasta:
  • 2.60% interest (2.62% AER^) fixed for a 6-month term*
  • Access up to 25% of your funds during the term (after the initial 8 weeks)**
  • Deposit between €2,000 - €200,000
  • Interest paid at maturity
  • Support from the same Irish-based contact centre you know and trust
https://www.bankinter.ie/personal/save-and-invest/fixed-term-deposit-account
 
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I have merged the 2 threads on this topic.

@Cumulus - Interesting that Avant are starting to offer this product to more customers. But it is not publically available yet. Any clue why they contacted you? Do you have other Avant products and opt-in for marketing? or did you sign up to be told when the term deposit product is available?

Giving access to 25% of your funds (after 8 weeks) on top of the market-leading rate for a 6 month term makes this offer even better.
 
I have a credit card from Avant and opted in for their marketing. The email with the offer came only today at 13:30.

Studying the email in detail it actually says: "This exclusive interest rate is available only to recipients of this email.
Anyone who has not received this email directly from us will be unable to apply for this offer."

But, even further down: "If you received this email from someone else, please note that application for a Fixed Term Deposit Account is currently limited and not yet available to the public. However, you are welcome to register your interest by emailing us at interest@bankinter.com and we will notify you when it is available."
 
I signed up and already have an account via their Bankinter Ireland mobile app. You have to commit to a lump sum figure during sign up and nominate an IBAN from which they'll do a DD (they didn't let me know the DD date yet).

Hopefully Avant personal loans and mortgages will appear in the same app: it's a pain to have to ring up to know the balance status of personal loans.
 
I have an Avant mortgage but can't seem to get access to register for the app without a credit card number. Is it only for Avant credit card holders?
 
When you attempt to sign up for the deposit account it actually validates if your info is either on the mailing list or you are an existing customer and only then can you sign up.

They clearly enforce the "This exclusive interest rate is available only to recipients of this email. Anyone who has not received this email directly from us will be unable to apply for this offer."
 
A lot of palaver for a good but not ground breaking rate! Who knows what it will drop to after 6 months. Either launch it or don't imo. Not sure there is any value in this "exclusive" soft launch, certainly doesn't appeal to me as a potential customer

Raisin are giving 3% for 3 months to any new customer right now.
 
Nope you need to click on the link in your invitation mail, do the process on the web and once you get your data, you can use the app.
And the app only works for the deposit account, not the credit card/loans etc.
 
messyleo said:
A lot of palaver for a good but not ground breaking rate! Who knows what it will drop to after 6 months. Either launch it or don't imo. Not sure there is any value in this "exclusive" soft launch, certainly doesn't appeal to me as a potential customer

Raisin are giving 3% for 3 months to any new customer right now.
Click to expand...

I guess the idea behind the soft launch is to test systems before a wider rollout. i.e. To reduce day one risk. But it is unusual.

The Raisin offer is clearly an introductionary short term offer.

The Avant/Bankinter offer is not ground breaking indeed. But it is a market-leading rate for a 6 month term. And with good T&C.

The palaver is mainly about a new bank, that is based in Ireland, entering the deposit market. And according to the Irish Independent will launch current account products next year too (it was not previously clear that Avant/Bankinter would do current accounts too). A welcome development for competition.
 
By palaver I meant the invite only / exclusive access / pre-registering interest hyping etc., (not needed imo) not discussion of and interest in the product which is of course a welcome addition to the market
 
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