Perm TSB Booster Bonus Demand Deposit Account

[Starting Out]

Hi there,

I've a clarification question re the above account if anyone knows the answer to it. Within the savings best buys it suggests that the first €10k in this account earns interest at one rate and any balance above this earns a higher rate.

I don't read this in the language used on the PTSB site so would like if anyone knows for sure how this account operates. I may be misinterpreting what was intended on the best buys either.

Here's what's written in the best buys section:

0.50% on €0.01 to €10,000 excluding bonus.
1.00%* on €0.01 to €10,000 including bonus.
1.00%* on €10,000+ excluding bonus.
2.00%* on €10,000+ including bonus.
*Rate applies from 21 July 2014.

Thanks,
Starting Out

 

[Lightning]

Hi there,

Firstly, the rate on the PTSB website is the current rate rather than the rate that is applicable from 21 July 2014.

The PTSB website does indicate that there are tiers.

On a balance of €10,000 or more, you earn a variable 1.25% Gross/Annual Equivalent Rate (AER). With a balance below €10,000, you earn 0.5% Gross/AER (variable).

Does that answer your question?