EBS reward reserve account 7.1%

[deputyjk]

Does anyone know if the EBS reward reserve account offering 7.1% on regular savings has any catch?

i.e. if I put in €1000 per month. €70 interesrt is added - DIRT = ~ €50 interest per month.

Could I then withdraw this €1050 and put it in another scheme and do this every month. I cant find any clause in the terms and conditions to say I cant do this.

 

[MugsGame]

7.1% is the annual rate, not the monthly rate. The annual rate applies only to money that is in the account for the whole year.

 

[Godfather]

Sorry 7.1% or 7%??? I've always heard 7%...

 

[Darando]

Are you talking about the regular savings account?

As far as I know you have to call into a branch to withdraw the money - but am not totally sure about that.