Irish Nationwide regular saver @ 7.35%?
- Thread starter oldtimer
- Start date
Some details from the brochure.
- Rate guaranteed to be ECB+3.35% until 31/3/2009, then ECB+1% until 31/12/2010
- Contribution between €100 and €1,000 per month
- Initial payment by cash or cheque, regular payment by standing order, direct debit or internal transfer. Initial payment must be the same as subsequent payments. The first and second payment must be in different calendar months.
- Contribution can be altered once every 6 months
- Max of 2 withdrawals per year; subsequent withdrawals are subject to 30 days interest penalty on the amount withdrawn
- Rate guaranteed to be ECB+3.35% until 31/3/2009, then ECB+1% until 31/12/2010
- Contribution between €100 and €1,000 per month
- Initial payment by cash or cheque, regular payment by standing order, direct debit or internal transfer. Initial payment must be the same as subsequent payments. The first and second payment must be in different calendar months.
- Contribution can be altered once every 6 months
- Max of 2 withdrawals per year; subsequent withdrawals are subject to 30 days interest penalty on the amount withdrawn
I agree those two terms are contradictory. The way I interpret it is that if you intend to lodge €500 each month, your initial cash / cheque should be €500 too. But there is nothing to stop you using one of your 6-monthly alterations to change the subsequent regular payments to not match this.
I picked up a brochure and form today - very handy that IN are open on Saturday.
Existing customers must re-supply all identity documentation - photo id, evidence of address and evidence of PPS.
I picked up a brochure and form today - very handy that IN are open on Saturday.
Existing customers must re-supply all identity documentation - photo id, evidence of address and evidence of PPS.
Jethro Tull
Registered User
- Messages
- 262
I didn't know this, thanks will drop in next saturday (company have moved from city center to what I call a banking 'blackspot'!!)
I was wondering this myself as I might not want to commit to another 2 year term like I was happy to do with anglo almost 2 years ago. Does it say anything in the brochure about this?
Raul,
what do you mean with minimum 2 years for Anglo, I wonder? I was under the impression you could stop Anglo's Regular Saver at any time and get the full interest up to the last day. However you have to close your Regular Saver for that. But there is no need to commit to two years.
Jethro, Oldtimer,
apart from Anglo most of the other banks which did not advertise that there was a max 2 year term reduced the rate much earlier (Halifax, AIB), so it looks like you are lucky if you get the full two years. This new product looks interesting. However, no guarantee that you get high interest after two years either (ECB+1% until 31/12/2010).
Fanny
what do you mean with minimum 2 years for Anglo, I wonder? I was under the impression you could stop Anglo's Regular Saver at any time and get the full interest up to the last day. However you have to close your Regular Saver for that. But there is no need to commit to two years.
Jethro, Oldtimer,
apart from Anglo most of the other banks which did not advertise that there was a max 2 year term reduced the rate much earlier (Halifax, AIB), so it looks like you are lucky if you get the full two years. This new product looks interesting. However, no guarantee that you get high interest after two years either (ECB+1% until 31/12/2010).
Fanny
dublinhead
Registered User
- Messages
- 57
Today is the day for closing this account. Rate drops on the 1st April 2009
From 1st April 2009 up to 31st December 2010
Regular Saver Deposit Account:
From the 1st March 2008 up to 31st March 2009
ECB + 3.35 %
ECB + 1% Minimum
Brendan Burgess
Founder
- Messages
- 53,759
ptsb changed the terms on this account in May 2011.
But Mugs Game successfully challenged this penalty as he outlines here
Successfully challenged ptsb penalty on former Irish Nationwide account withdrawal
But Mugs Game successfully challenged this penalty as he outlines here
Successfully challenged ptsb penalty on former Irish Nationwide account withdrawal