PTSB to Cut Deposit Rates

[Lightning]

The Sunday Independent have reported that PTSB are going to further cut their deposit rates. Article .

The 75pc State-owned bank is paying savers more than the market average, and said that while it plans to continue to do so, the premium will be at a lower level.

Chief executive Jeremy Masding said the bank wanted to move from 0.12 percentage points above the market rate to 0.05 percentage points.

If you were thinking about fixing with PTSB (there are better returns out there), then now might be a good time to fix.

 

[Boyd]

Cheers Ciaran. 0.12% to 0.05%, does it really matter anymore?! May as well be 0.0% at this rate of cuts (pun fully intended!).

 

[random2011]

How about reducing their mortgage rates or at least allowing existing customers to fix at the same rates of new customers. Rats

 

[Lightning]

0.12% to 0.05%, does it really matter anymore?!

0.12% is what PTSB think is the weighted-average differential between PTSB deposit rates versus BoI and AIB deposit rates. PTSB fixed rates are currently up to 0.90% AER fixed.