Savings rate changes after ECB cut

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camlin90

Registered User
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Following the ECB's recent 0.5% rate cut, it might be a good idea to flag changes in deposit interest rates as they happen, so that people can keep informed if accounts become more or less competitive.

Irish Nationwide Regular Saver
Down from 7.6% to 7.1% - 15/10/2008
(expected as the account tracks ECB + 3.35%)
 
EBS Regular Saver down .5% to 7% even though still advertised at 7.50% on web site
 
GON10 said:
EBS Regular Saver down .5% to 7% even though still advertised at 7.50% on web site
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Bank websites are always slow updating their websites. First Active's 7.15% lost its claim as the market leading rate about a year ago, yet they still claim this on their website!

Branches also do not update regularly enough. I saw posters on the windows of Irish Nationwide branches, stating their rate was 7.35%, despite how the ECB had gone up weeks earlier, meaning their rate was now 7.6%

Just this lunchtime, I was in an AIB branch & noted they are still advertising tracker mortgages, even though they pulled the plug on these for new customers last week!
 
TheJackal said:
Just this lunchtime, I was in an AIB branch & noted they are still advertising tracker mortgages, even though they pulled the plug on these for new customers last week!
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Christ if they cant even keep their shop window diisplays up to date it's no wonder they got us into this mess.:mad:
 
AIB Regular Savers issued post 19/02/2008
Down from 7.50% to 7.00%

AIB 7 Day Online Notice
Balances up to 10K - down from 5.25% to 5.00%
Balances above 10K - down from 3.75% to 3.25%
 
TheJackal said:
First Active's 7.15% lost its claim as the market leading rate about a year ago, yet they still claim this on their website!
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Can anyone tell me if anyone knows if the regular savings account with 1st Active is based on the ECB rate. The figure of 7.15% is still advertised on their website & appears to be still advertised here on this website too.
 
Are the banks playing a waiting game to see what the opposition does with the rate cuts? (Good for consumers if so)

Have a tracker so mortgage paments have fallen nicely,

but have an Anglo Regular saver and premium deposit and the 8% and 5.5% are still the same, and the other main players don't seem to have dropped rates either

If it was the other way around we (consumers) would be all very irate, and going "mad" on various websites.
 
First Active E-Savings
New rates:
4.75% for balances up to €15,001 (down 0.47% from 5.22%)
3.80% for balances above €15,001 (down 0.53% from 4.33%)

New rate effective from Tuesday 18/11/2008, so you have a few days to get the hell out of there.
 
Halifax Fixed Term Accounts
The rate on the 1 year fixed account is dropping from 5.9% to 5.6% from Monday 17/11/2008.
 
We already knew about some of these cuts, though I think some of these are new.



Irish Nationwide Building Society had been competing hard in the fixed-rate deposit market. It had been paying 6pc for money on deposit for six, nine and 12 months, but has now cut that to 5.25pc.
Bank of Scotland had been paying 6.25pc fixed for six months, and 6pc for three months for amounts over €100,000. The new rate is 5.5pc for six months and 5.25pc for three. Its sister bank Halifax said that from this week it will pay 5pc on three-month deposits, down from 5.65pc, and 5.6pc on money deposited for a year, reduced from 5.9pc.
First Active has reduced the rate it pays on a number of other savings products.
Its eSavings account will see its interest rate reduced today from 5.22pc to 4.75pc for amounts up to €15,000. For amounts over that the entire amount will now attract a rate of 3.8pc, down from 4.33pc.
AIB is cutting the rate it pays on its Seven Day Online account by 0.48 percentage points to 4.5pc for amounts up to €10,000, and from 3.75pc to 3.25pc for amounts over €10,000.
Fixed rates being offered by Irish Nationwide are also coming down.
Regular savers have also been hit, with Irish Nationwide set to cut the rate it offers coming down from 7.6pc last month to 6.6pc at the moment.
EBS Building Society has reduced its regular saver rate by 0.5 percentage points to 7pc, while AIB's regular saver rate is down to 6.5pc.
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Alright it's only really the BOS and AIB parts that are new:eek: (just checked the rest of the thread in fine detail).
 
Gosh, Northern Rock demand on line account with full British Treasury guarantee at 5% is getting more attractive every day. So far no sign of a reduction.
 
AIB's rates have been updated on the website. Most notably:

AIB 7 Day Notice
Down 0.5% from 5% to 4.5% - confirming MysticX's article above.

AIB Regular Saver
Down 0.5% from 7% to 6.5%

AIB Parent Saver
Down 0.5% from 10% to 9.5%

Also, across the road:

Ulster Bank ESavings
Down 0.5% from 4.4% to 3.9%
 
oldtimer said:
Gosh, Northern Rock demand on line account with full British Treasury guarantee at 5% is getting more attractive every day. So far no sign of a reduction.
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Seems to be the best demand account at the moment. I withdrew all but ten euros or so from my First active esaver account today and did the same with my AIB 7 day online account too...all going to Northern Rock (where I already have most of my savings anyway), only Halifax flexisaver account @ 5.15 left to date.
 
iggy said:
Seems to be the best demand account at the moment. I withdrew all but ten euros or so from my First active esaver account today and did the same with my AIB 7 day online account too...all going to Northern Rock (where I already have most of my savings anyway), only Halifax flexisaver account @ 5.15 left to date.
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Anglo still have their deposit account at 5.5%.
 
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