AIB online saver - what happens after 12 months?

[qwerty-2023]

Hi all,

I'm thinking of opening an AIB online saver account at 3% interest rate.

Say I open it now, then the 12 months cycle will end in Nov 24.

However, AIB T&Cs state interest only gets paid annually in April.

So between Nov 24-Apr 25, do I have to leave the lump sum in there to ensure interest gets paid??

Or can I move out the money in Nov 24 (except for 1k and then build back up with new savings), and still be paid the interest the following year?

Thanks in advance for any info!

 

[S class]

You can withdraw in November and the interest will be paid in April.
You can immediately restart the regular savings. I think a portion of the interest on the new savings is also paid in April.

 

[Tomalong]

I believe the interest is calculated daily and paid in April, so no you don't need to leave it there.

 

[qwerty-2023]

Thank you both, that's super helpful!!