RTE, Independent.ie and The Irish Times are giving prominence today to PTSB "deposit rate increases" but not challenging PTSB on the details.
But the reality is:
- No increase in deposit rates for current account holders.
- No increase in deposit rates for lump sum instant access account holders.
- No increase in deposit rates for notice account holders.
- No increase in deposit rates for regular saver account holders.
Term deposit rates are going up for those that open new term deposits. About 1% of Irish deposits are held in term deposits.
PTSB are matching AIB in terms of offering 2.00% but for different terms. 2% for 1 year 6 months, 3 years and 5 years.
Rates remain well below many European banks.
More 'window dressing' by Irish banks sending out press releases about deposit increases when the reality is very few will benefit and the media are not challenging the narrative.
But the reality is:
- No increase in deposit rates for current account holders.
- No increase in deposit rates for lump sum instant access account holders.
- No increase in deposit rates for notice account holders.
- No increase in deposit rates for regular saver account holders.
Term deposit rates are going up for those that open new term deposits. About 1% of Irish deposits are held in term deposits.
PTSB are matching AIB in terms of offering 2.00% but for different terms. 2% for 1 year 6 months, 3 years and 5 years.
Rates remain well below many European banks.
More 'window dressing' by Irish banks sending out press releases about deposit increases when the reality is very few will benefit and the media are not challenging the narrative.
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