AIB fixed term deposit now Select Fixed Term

M

MFK

Registered User
Messages
75
Hi
I have a fixed term account with AIB and received a letter from them today saying that from May 11th this account will be replaced by a new "Select Fixed Term" account and that I will no longer be able to reinvest in original account. They say at maturity it will automatically change to the new Select account. Is anybody aware of this and is there any downside to it. Do you recommend that I take any action?

Appreciate any advice

Thanks
MFK
 
Hi MFK,

AIB have been doing some string cleaning of legacy deposit products lately.

There are slighly different T&C's with the Select products.

The best course of action is to close your AIB account and open a term deposit with a different bank, such as KBC, at a much better rate.
 
Thanks. Ciaran, I already have a KBC account and have spread money in order to ensure the government guarantees and that is why I have the AIB account
 
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