First Active Regular Saver - 7.15% on up to €1K p.m.

C

caoimhe

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Can't post this in the Best Buys - Regular Saver thread as it's locked but looks like there's now even more competition for our money.

First Active are offering 7.15% on amounts up to €1000 a month - yipee?
[broken link removed]

Unfortunately i already have the max amount i can afford to save going into regular saver accounts and the difference in rate probably doesn't make it worth my while to open a new account but hopefully this will encourage AIB, BOI etc to raise their rates.

First Active seem to be getting very competitive as they now offer the highest rate for both lump sums up to €15,000 and now regular saver accounts.
 
Re: First Active - Regular Saver

This seems to be a good rate, but if the mess with the eSavings lump sum product introduction is anything to go by, make sure to read all the small print.

On the up side, the amount per month is very good at €1000.

I can't find if there is any promise for how long this rate will last?
 
Re: First Active - Regular Saver

Sounds like a good offer. Nothing on website about how to open account. Has anyone opened one yet?
 
Re: First Active - Regular Saver

I like that it allows funding by standing order instead of direct debit.
 
Re: Great news from FA

Ehi! 74 viewings and not even a "thank you"?:D Are you too busy calling your local branch of FA?:D
 
Re: Great news from FA

Godfather said:
Ehi! 74 viewings and not even a "thank you"?:D Are you too busy calling your local branch of FA?:D
Click to expand...

Thanks for the heads up.

You were beaten to the scoop by yesterday here

Wonder what the T&Cs are? I see it's by standing order so wonder can I set up a SO of E100 but do an additional e-lodgement of a variable amount every month as well?
 
Re: Great news from FA

a few questions:

what if you miss a payment?
penalty for closing account?
can you save with 50 euro then top up 950E?
 
Re: Great news from FA

You're right! Didn't know caoimhe got there 1st...:D I'm trying to contact my subsidiary to set the new account up.
 
Re: Great news from FA

Is this not a nominal rate of 5.77% compounded monthly that gives an effective rate of 7.15%?

And is it not actually less than this, as it applies to regular savings (i.e. only your first month’s deposit gets the full annual interest rate – the next gets 11/12s, the next 10/12s etc., i.e. a nominal annual rate of 4.5%?
 
I was curious so I did a quick spreadsheet see if it was worth setting up for a lumps sum investment. I compared two scenarios. 1. Setup AngloIrish Easy Access for the lumps sum and drip feed 1k into the FA account each month or 2. Setup AngloIrish 30 Day notice and leave the money there. H[broken link removed]. Bottom line is after a year of drip feeding you ahve about 100E extra. What do you think
 
Why Anglo Easy Access when you can get a better rate on lump sums elsewhere (e.g. FA eSaver, Rabo, NR etc.)?
 
How are you getting €20,000 earning €997.24 in interest with Anglo Irish 30 day notice at 4.5%? Surely that should be €900 gross and €720 net of DIRT?

Also - if interest is paid, say, monthly on and account then DIRT will be deducted at that time so you cannot compound on the gross amount.
 
ClubMan said:
Why Anglo Easy Access when you can get a better rate on lump sums elsewhere (e.g. FA eSaver, Rabo, NR etc.)?
Click to expand...
I already have an account there.
How are you getting €20,000 earning €997.24 in interest with Anglo Irish 30 day notice at 4.5%? Surely that should be €900 gross and €720 net of DIRT?
Click to expand...
Compounded monthly. However that's incorrect if the interest rates quoted are AER. (which they may be?)
Granted I have one bug where the values total to the 13th month and not the 12th month.

I didn't include DIRT but you can get that easily as it's approx 20% of the difference
 
Hi guys, just opened the account. Took 10 mins. They accepted a standing order with my "normal bank" for c/a.

I really like the RBS group!:)
 
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