NIB Tracker Deposit a/c

A

abbey

Registered User
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55
Hallo,

I was interested in opening this a/c.

Just trying to work out what the interest rate is. Its based on the ECB interest rate.
Anyone know what this rate is?

Gura míle maith agat
 
At present, the ecb rate is 3%. National Irish are giving ecb + 1% on amounts between 20,000 and 50,000 i.e. 4%, and I think ecb + .8% on amounts under 20,000.
 
Great, thank you.

Yes you are right with those details. Also the money will be invested until 31/12/2008, although you can make withdrawals...

Thanks again..
 
So is this currently the best deposit account out there? (beating Northern Rock)
 
IrlJidel said:
Note that you cannot make any more lodgements after 31 August
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Hi IrlJidel,
I see nothing on the NIB website about a cut-off date for deposits to this account. Where did you get this information?
 
I rang them this morning to make an appointment and the official informed of the fact.

I knew about the Aug 31 closing date to open acc (also mentioned in BestBuys) but was not aware you couldn't make further lodgements after that date either.

The NIB site doesn't mention 1) closing date for lodgements or 2) end of account 31/12/2008

I'm opening up account tomorrow - will update if there's any change to 1) or 2)
 
My reply earlier didn't get updated here.

I have 5 - 6 k to put into a savings account and may need access to it over the next year. I am in the middle of opening up a rabo direct account for this - should I go to NIB instead?

In addition - have 20k in an AIB account earning feck all. Won't need this for a year - where best to put this?

Thanks all.
 
Massey said:
My reply earlier didn't get updated here.

I have 5 - 6 k to put into a savings account and may need access to it over the next year. I am in the middle of opening up a rabo direct account for this - should I go to NIB instead?

In addition - have 20k in an AIB account earning feck all. Won't need this for a year - where best to put this?

Thanks all.
Click to expand...

Yes it did-here.
 
Massey said:
My reply earlier didn't get updated here.

I have 5 - 6 k to put into a savings account and may need access to it over the next year. I am in the middle of opening up a rabo direct account for this - should I go to NIB instead?
Click to expand...

Suggest you put 5-6k into Northern Rock for 3.75% Minimum balance: €1,000 (Rate effective 30 August).

Rabo is currently 3.5% (they haven't announced any increase due to ECB change yet but they are usually 0.1% below NR). Min balance €1.


Massey said:
My reply earlier didn't get updated here.
In addition - have 20k in an AIB account earning feck all. Won't need this for a year - where best to put this?

Thanks all.
Click to expand...


Suggest you put 20k into NIB ECB tracker to get 4%.
 
The online access to this account is particularly interesting. Given that I can make once-off and recurring payments from this account, I'd love to use this account for most of my regular payments. I won't have a cheque facility of course, but I rarely use this anyway.

The problem is that they say it won't accept lodgements after 31st Aug. I wonder what will happen if I make a transfer to the account by internet banking. Will it get bounced?
 
Opened up a NIB Tracker Deposit 2 account last September in a South Dublin branch. I was amazed how little knowledge the staff had on this product despite the fact that my branch closes until 10.30 am on A Wednesday morning for staff training purposes. The cashier with whom I made my first enquiry told me I couldn't have one as a joint account because it was like an SSIA?. She also told me that the interest rate was 4 per cent.
When I was directed to the section that deals with queries I was again told that it could not be a joint account and that the interest rate was 4 per cent. I went ahead and opened the account. Today I got my statement and I note that it is 4 percent on amounts over €20k but 3.7 per cent on amounts below €20k and 3.5 per cent on amounts below €5k. I have since learned that it can be a joint account. I also learned that I can make no further lodgments after the 28/02/07, something else I wasn't told about.
 
SlurrySlump said:
Opened up a NIB Tracker Deposit 2 account last September in a South Dublin branch. I was amazed how little knowledge the staff had on this product despite the fact that my branch closes until 10.30 am on A Wednesday morning for staff training purposes. The cashier with whom I made my first enquiry told me I couldn't have one as a joint account because it was like an SSIA?. She also told me that the interest rate was 4 per cent.
When I was directed to the section that deals with queries I was again told that it could not be a joint account and that the interest rate was 4 per cent. I went ahead and opened the account. Today I got my statement and I note that it is 4 percent on amounts over €20k but 3.7 per cent on amounts below €20k and 3.5 per cent on amounts below €5k. I have since learned that it can be a joint account. I also learned that I can make no further lodgments after the 28/02/07, something else I wasn't told about.
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I went with the Regular Saver Account which pays ECB +50 on any balance from 0 to 50k, no expiry.
 
What do you mean 'no expiry.' Why were you told ''I can make no further lodgments after the 28/02/07?'' I would watch this. Last August NIB offered ECB+1.00% but then said no more lodgments after 31/08/06. They then introduced Tracker Deposit 2 with less interest. From what you say I wonder is there a Tracker Deposit 3 after 28/02/07 with less interest again i.e. less than ECB+0.50%?
 
The 'Regular Saver Account' marksa took out has different terms and conditions. Can someone who has seen the actual terms confirm if it can be used as a lump sum account, and not just for small-medium regular lodgements?
 
MugsGame said:
The 'Regular Saver Account' marksa took out has different terms and conditions. Can someone who has seen the actual terms confirm if it can be used as a lump sum account, and not just for small-medium regular lodgements?
Click to expand...

I opened the Tracker Deposit A/C and made enquiries about the Regular Saver Account. You can not lodge a lump sum into the Regular Saver. It is only intended for regular lodgements paid in by standing order. The amount lodged can not exceed 50,000. So in effect you can lodge 4166.66 each month for a year. The interest would be calculated in the same manner as the other regular savings accounts.
 
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