Why would anyone opt for a 5 year term when the rate is the same for 18 months?
If their investment horizon was 5years and if they wanted certainty of the return they were going to get and if this rate was sufficient and/or if they believed that there was a reasonable chance that rates would drop below 2% during the longer period.
Also, I presume the rate for the 18 month, 3 year and 5 year terms is per annum?
Correct
PTSB have a calculator for this...
https://www.permanenttsb.ie/saving-and-investing/deposit-accounts/fixed-term-deposit-account/
18 mth @2% gross p.a for 100k deposit