AIB regular saver rate 7.10% price promise runs out

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dublinhead

Registered User
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  • With a Regular Saver Account you can avail of a special rate of 7.10%* A.E.R.
  • You will also get a price promise.
    This rate will at least match ECB + 2.50% per annum until 01/01/2008. Thereafter it will match ECB until 01/01/09.
Time to move money. Do I have to go into bank to stop the 300 euro being taken from my account each month? Can't see how to do online.
 
Thanks for flagging this. Looks like it's time to close this one and start the FA regular saver instead.
 
dublinhead said:
Do I have to go into bank to stop the 300 euro being taken from my account each month? Can't see how to do online.
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You probably need to cancel the DD (?) by AIB and the bank from which it is paid (if different). You may have to do it in writing by attending the branch and signing a form or by posting a letter.
 
Guys,

sorry these are very good subject of conversations... Are you aware of any other reg. saver or lump sum account dropping interest rate? Shall we open another tread?
 
Halifax monthly saver 7.00% At least ECB + 1.50% until 31st Jan 2008.

Need to keep an eye on this one soon
 
EBS regular saver seems to have fewest restrictive terms and conditions and their rate is guaranteed until April 2008 if I recall correctly. The Financial Best Buys forum still lists all high yielding lump sum term/demand and regular saver deposit accounts and should be more or less up to date.
 
I'm with anglo (matures in August of this year, it has a 2 year term). No idea if they have rate guarantees to be honest but will be interesting to see how they react of other institutions begin to cut rates. Wonder is this the beinning of the end for these high interest regular savers.
 
Jethro Tull said:
I'm with anglo (matures in August of this year, it has a 2 year term). No idea if they have rate guarantees to be honest
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See [broken link removed] for summary terms & conditions applicable to their 7% regular saver account.
Interest rate is variable, with a minimum rate guarantee of 4.5% for the full term of your Regular Saver Account
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The c. 7% regular saver accounts have always obviously been loss leaders. It is no surprise if some or all of them start scaling back the rates.
 
ClubMan said:
You probably need to cancel the DD (?) by AIB and the bank from which it is paid (if different). You may have to do it in writing by attending the branch and signing a form or by posting a letter.
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It's a SO. You should be able to cancel it using Online Banking.
 
plant43 said:
It's a SO. You should be able to cancel it using Online Banking.
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I don't see a SO for the regular payment from my cashsave to regular saver in online banking.

I've withdrawn all the cash from the Reg Saver and am posting the instructions to close the account and stop the regular payment from my cashsave.
 
i rang my local AIB and they said the current rate for this account is 6.98%. Also all info/handouts for this account where removed from the bank yesterday. So it looks like they have summit new on the way. Will it beat FA thou. Im gonna hold out for a week to see wot they have coming other wise im going with FA
 
ClubMan said:
The c. 7% regular saver accounts have always obviously been loss leaders. It is no surprise if some or all of them start scaling back the rates.
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For every €1 deposited at 7%, the bank can lend €10 at a higher rate. They might be making less profit on them, but they're not making a loss.
 
I rang and was also told 6.98%. Hardly a catastrophic drop so far anyway. Would be nice if they posted this stuff somewhere, there is this new thing called the internet I hear...
 
I'd say the 6.98% they are referring to is the Gross Rate (quoted on website) - which would be equivalent to an APR of 7.1%.
Either the rate hasn't dropped, or the staff member is looking at out of date figures.

The fact that all docs have been removed from the bank would worry me
 
Correct. See here.

[broken link removed]

Nominal rate is 6.98% but the CAR/AER/EAR is 7.10%.

Note that APR applies to loans not deposits.
 
So have we any ideas of the First Active regular savings if they will follow suit. I know EBS has there rate fixed until April. (and Halifax until the end of the month) Is it worth setting up a new account with FA (could be a lot of hassle for just something like 3 months!)??
 
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