BoI slashes Special Bonus Saver Account Rates

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Dreamerb

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Apologies if anyone's already drawn attention to this but I had a quick search and haven't seen any recent posts on it.

Bank of Ireland's SSIA follow up had been paying ECB on any lump sum [Matured Blanace] retained in the Bonus Saver Account after the SSIA matured, and ECB + 2.75% (6.75%) on any new savings after that date [Regular Savings Balance].

They've now withdrawn this, and the rate on all monies in those accounts is down to 3.75%. It's also expressed as a variable rate (not ECB linked) and at the discretion of the bank.

The letter I got from BoI yesterday said "Now that your account is approaching its 18th month anniversary [...]", so they may be tailoring the rate withdrawal to individual saver's SSIA maturities... but if you've been saving there, it may be time to examine other options.
 
"They've now withdrawn this, and the rate on all monies in those accounts is down to 3.75%"

Where did you see this mentioned ? Can't find anything on the BOI website.
 
They wrote to me about my account. It may be that it's a phased withdrawal - my SSIA matured back in October 2006 - and that other people's account T&Cs won't change until they're also approaching the 18 month mark.
 
The rate was only guaranteed to the the ECB +2.25% for 18 months. It was part of the T&C of the account
 
ECB + 2.75 when I opened mine. And yes, I knew it was a limited duration rate offer although I wasn't sure if it was from the date on which it opened or from a set date - I was just drawing people's attention to the fact the rates they're going to now are very substantially lower.
 
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Yep mine matured in early 07 so I have 6.75% till then end of August or Septmember.
The interest rates for savings account seems to be taking a drop and the mortgage interest rates seem to going the opposite direction.
The credit crunch seems to e biting hard.
 
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