ptsb increases deposit interest rates

Sarenco

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PTSB have announced increases to certain deposit rates, including an increase to their 5-year fixed deposit rate to 1.15%.
 
Nothing beats the deposit rates on offer with raisin at the moment. Referal fee at €50, for both referrer and referee, is not to be sniffed at either.
 
Nothing beats the deposit rates on offer with raisin at the moment. Referal fee at €50, for both referrer and referee, is not to be sniffed at either.
I've just opened a Raisin account following @noproblem's post above. Going for a 1 year fixed for starter. I was amazed at the rates on offer. Bit of faffing about to verify id but sorted in about 15 minutes. Thanks noproblem!
 
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Raisin looks good, but just bear in mind that it's subject to DIRT tax, and you appear to have to do that via your tax return rather than the Irish bank just doing it for you.
 
Raisin looks good, but just bear in mind that it's subject to DIRT tax, and you appear to have to do that via your tax return rather than the Irish bank just doing it for you.
Rather simple to do. A big saving for very little work.
 
Have €55k to put somewhere from KBC but a bit put off by the need to do a tax return with raisin
 
Have €55k to put somewhere from KBC but a bit put off by the need to do a tax return with raisin
It's really not that difficult. If you're PAYE then you can easily do it at/after year end via Revenue myAccount by just entering the deposit interest received and they'll rebalance your account for the year.
 
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The three remaining Irish banks are now essentially operating a cartel and should be regulated accordingly to protect consumers. This should include minimum interest rate floors for deposit accounts.
 
The three remaining Irish banks are now essentially operating a cartel and should be regulated accordingly to protect consumers. This should include minimum interest rate floors for deposit accounts.
I disagree. Without trying very hard I can get multiples of what the the retail banks offer via online alternatives.

The aim should be to bring to people's attention that alternatives are available (I think this forum does that rather well but it's only one channel). Minimum thresholds just compound consumer inertia. If people know there's are better rates elsewhere but make no effort to move that's their choice.

Also consider if you bring in a minimum floor that's effectively setting a floor on bank funding costs. The knock on effect is likely to be higher borrowing costs and charges for other banking activity.
 
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