Rabodirect Interest post 31/12/07

J

Jethro Tull

Registered User
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As I'm sure you all know Rabo currently pay 5% on the first 10k and 3.75% on the rest of you account (Up to EUR1m I think). This 5% rate is guaranteed until the 31/12/07. Is there any news on what it will be after that? Will it drop to 3.75% on all your balance or has any decision been made on what rates they will offer?
 
Comparing their [broken link removed] with the ECB rate over the last two years shows that they tracked it on the way up so they'll probably track it on the way down too. With the absence of SSIA money they might feel the competition for deposits is diminished and attempt to get away with more aggressive cuts.

I for one stand ready to pull out all my funds at the first sign of this :D
 
GeneralZod said:
Comparing their [broken link removed] with the ECB rate over the last two years shows that they tracked it on the way up so they'll probably track it on the way down too. With the absence of SSIA money they might feel the competition for deposits is diminished and attempt to get away with more aggressive cuts.

I for one stand ready to pull out all my funds at the first sign of this :D
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This is what I was afraid of. The 5% seemed to be targeting SSIA funds. I'll personally put it where ever the best rate is.
 
GeneralZod said:
Comparing their [broken link removed] with the ECB rate over the last two years shows that they tracked it on the way up so they'll probably track it on the way down too. With the absence of SSIA money they might feel the competition for deposits is diminished and attempt to get away with more aggressive cuts.

I for one stand ready to pull out all my funds at the first sign of this :D
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I agree.

My worry is that, with NR effectively off the scene, Rabo will feel that they only have to compete with the staid old Irish banks. Other reasonably competitive banks, such as First Active and their E-savings account, will probably follow whatever Rabo do. Hopefully, the new owners of NR will offer competitive rates... if even for an initial six months or so. We may need to do a good bit of brain storming with a bit of lateral thinking in a couple of months time! ;)
 
carpedeum said:
I agree.

My worry is that, with NR effectively off the scene, Rabo will feel that they only have to compete with the staid old Irish banks.
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While is seems unbelievable Bank of Ireland seem to be doing something:

Bank of Ireland today (Monday, 1st October 2007) announced that it is to further enhance its current account offering for personal banking customers with the introduction of credit interest at a market-leading variable rate of 10.5% (10.92% EAR). Customers can avail of 10.5% credit interest from the 15th of October 2007 which will apply to cleared credit balances up to a maximum of €1,500. Bank of Ireland customers will not be required to make a minimum monthly lodgement or maintain a minimum credit balance to qualify. The introductory rate is available to new and existing customers until the 24th of February 2008 after which time it moves to a variable rate of 4.0% (4.06% EAR).


It is a pity that is only limited to 1,500! Still not option to register on their Website! Time to anoy my branches.

Towger
 
Towger

What you are referring to here is the staid olde BoI following and catching up with AIB/Halifax/PTSB and possibly UB/NIB by introducing a Current Account which has some incentive to actually leave €1.5-€2k in there.

This is not Lump Sum saving, as in Rabo/NR/Anglo/FA, i,e €10k-€15k.
 
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