Anglo Irish Annual Regular Savings Account

B

Bobby1

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Just read in the Indo there that Anglo Irish are closing off their existing Regular Savings account from Monday to new business and replacing it with a new 8% account!

Access to funds will be allowed after 6 months of opening and max DD is still €1,000

No word on the website yet though

Nice!!!
 
Re: Anglo Irish launches new 8% Regular Savings Account

Any news on what happens to existing regular savers (on 7% rate) ? I assume we cannot transfer built up lump sum into the 8% account, but need to keep saving in that account to maintain the 7%...
 
Re: Anglo Irish launches new 8% Regular Savings Account

no your existing 7% will not be transfered to 8%. you can open a new 8% account. but will have to continue the minimum amount deposit on the 7% account
 
Re: Anglo Irish launches new 8% Regular Savings Account

The Financial Regulator yesterday (June 4th 2008) published its first ever regular savings account comparisons on its personal finance website (www.itsyourmoney.ie). The comparisons highlight various regular savings accounts, which show that interest rates on regular savings accounts vary from just over 3% to over 7%. ALBK offers a rate of 7.3% but with a maximum lodgement of €300/month. BKIR offers 7% with a maximum of €500/mth. IPM's 21-day notice account offers 5.75% at a maximum of 1000/month. Yesterday also saw ANGL announce a new regular saver product that pays 8% for a one-year term but with unlimited withdrawals allowed after six months.
These competitive rates highlight the demand on the part of banks for customer deposits as wholesale rates remain high (Euribor 3mth 4.864%) and they seek to grow their loan books more in line with deposits. ANGL has the lowest loan/deposit ratio of 127%, with IPM the highest at 288%. BKIR and ALBK both have a ratio of 157%
 
Re: Anglo Irish launches new 8% Regular Savings Account

so you can have 2 RSAs? I doubt that, but could be wrong.
 
Re: Anglo Irish launches new 8% Regular Savings Account

i rang Anglo because i have a 7% myself and they said there is no problem opening an 8% account aswell.
 
Re: Anglo Irish launches new 8% Regular Savings Account

New 8% account only lasts for a year.
 
Re: Anglo Irish launches new 8% Regular Savings Account

This is great news. Forms available from Monday. Possible to run both accounts concurrently.

I recommend anyone with a lump sum to open a 7% account before COB Monday if at all possible. I set mine up last week. All I have to do to set up the second account is send in the form on Monday.
 
Re: Anglo Irish launches new 8% Regular Savings Account

jambo.ie said:
I recommend anyone with a lump sum to open a 7% account before COB Monday if at all possible.
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Why - what's the rush? If you mean [broken link removed]:
(The current Regular Saver Account (2 year term) is closed for new applications from close of business Monday, June 9th 2008.)
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then doesn't that apply to the old 7% RSA?
 
Re: Anglo Irish launches new 8% Regular Savings Account

Yes, hence if you want a 2 year account (currently at 7%) you should open it ASAP.
 
Re: Anglo Irish launches new 8% Regular Savings Account

Duh! Sorry. Coffee han't kicked in ... :eek:
 
Re: Anglo Irish launches new 8% Regular Savings Account

I know the regular saver will grab the headlines because of the 8% rate but that link also states that they're offering a 6 month fixed term account at 5.35% for any amount!!! That's a much more significant offer than the regualr saver and makes me happier.
 
Re: Anglo Irish launches new 8% Regular Savings Account

What’s appealing about opening Anglo’s 2yr 7% reg saver a/c before it closes, if you have a lump sum?

This interest rate is a variable rate only guaranteeing 4.5% (possibility to change anytime from 7% to 4.5% during the 2yrs).

FA (7.15%), AIB (7.3%), INBS (7.35%) all offer better rates during their term. One has the ability to save a cumulative amount of €2,300 opening these 3 together. & per ‘Emma Kennedy’s article in Sun Business Post, June 1st; ‘EBS are planning to launch a second tranche of regular savings product this month paying a very competitive rate’ Any Word on launch date?
 
Re: Anglo Irish launches new 8% Regular Savings Account

"Unlimited withdrawals after 6 months". What are the restrictions for the first 6 months I wonder?
 
Re: Anglo Irish launches new 8% Regular Savings Account

It's possible the Indo confused EBS with Anglo. Or perhaps not.

Some might prefer the 2 year account to the new 1 year account because the effective maximum balance is higher in the former. Similarly, AIB have launched a 10% regular saver account, but the most you can have in it is 12 x €300 (unless you open lots of accounts!).
 
Re: Anglo Irish launches new 8% Regular Savings Account

N/SIDEPEOPLE said:
What’s appealing about opening Anglo’s 2yr 7% reg saver a/c before it closes, if you have a lump sum?

This interest rate is a variable rate only guaranteeing 4.5% (possibility to change anytime from 7% to 4.5% during the 2yrs).

FA (7.15%), AIB (7.3%), INBS (7.35%) all offer better rates during their term. One has the ability to save a cumulative amount of €2,300 opening these 3 together. & per ‘Emma Kennedy’s article in Sun Business Post, June 1st; ‘EBS are planning to launch a second tranche of regular savings product this month paying a very competitive rate’ Any Word on launch date?
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Because with my configuration you can deposit up to 5150 per month @ >=7%.

Anglo 1000
Anglo 1000
BOI 500
Hal 350
AIB 300
FA 1000
IN 1000
 
Re: Anglo Irish launches new 8% Regular Savings Account

John J said:
"Unlimited withdrawals after 6 months". What are the restrictions for the first 6 months I wonder?
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From www.itsyourmoney.ie
A withdrawal [in the first 6 months] will result in the account being closed and the remaining balance and all interest accumulated up to that point will be transferred into an Easy Access account. An Easy Access account pays an interest rate of 4.50% AER.
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Re: Anglo Irish launches new 8% Regular Savings Account

ClubMan said:
the remaining balance and all interest accumulated up to that point will be transferred into an Easy Access account. An Easy Access account pays an interest rate of 4.50% AER.
Click to expand...

4.5% aint the worst rate if you were badly stuck for a few grand before the initial 6 months were up!
 
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