Rabodirect 6 Month Fixed Rate Saving Account

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Noor77

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I have a couple of thousand on deposit with Rabodirect. Does anyone know if I can swap the amount over to their new 6-month fixed rate account?

Thanks
 
Of course. Why do you think that you can't? [broken link removed] are offering a better rate over 6 months - 5.35% versus Rabo's 5.25%. Both gross CAR. Read the terms & conditions of both in case there are any significant differences. But maybe for the sale if 0.1% it's handier for you to stick with Rabo?
 
Thanks Clubman. I just thought that maybe it was only open to new Customers or something .... banks are very good at limiting their offers!!!
 
But Rabo are the Straight Talking Bank™ with No Sneaky Stuff®. But seriously...
RaboDirect Term Deposit Account

5.25%* for 6 months - guaranteed!
If you're looking for a guaranteed rate of interest you'll do well to open a RaboDirect Term Deposit Account. From Monday the 9th of June 2008, we'll be offering 5.25%*
for a 6 month Term Deposit on amounts from €500 to €200,000.

...

Existing RaboDirect Customers

If you're an existing RaboDirect customer, simply click on the Term Deposits option from within your secure account.
Click to expand...
 
Thanks Clubman! I'll get on to that :))

By the way - speaking of straight talking banks.... has anyone rung the Postbank helpline? The answer machine says " Unfortunately we are one of those banks with a phone menu option ..."
 
Hi.

Just a query in relation to Rabo's 6 month deposit account. I'm new to all this so forgive me if this is a silly question.

Say for example if i lodge €10,000 into a 6 month term deposit account does this mean at the end of the 6 months i have earned €420? (€525 less 20% DIRT).

thanks.
 
supe said:
Hi.

Just a query in relation to Rabo's 6 month deposit account. I'm new to all this so forgive me if this is a silly question.

Say for example if i lodge €10,000 into a 6 month term deposit account does this mean at the end of the 6 months i have earned €420? (€525 less 20% DIRT).

thanks.
Click to expand...
5.25 is the AER (annual equivalent rate) so you will earn half that for a six month deposit.

edit: Doh - too slow!
 
Any help?

RaboDirect Term Deposit AccountTermInterest*
> €500
1 month4.34%
2 months4.51%
3 months4.75%
4 months4.78%
5 months4.81%
6 months: €500 - €200,0005.25%
6 months: €200,000+4.85%
7 months4.94%
8 months4.99%
9 months5.05%
10 months5.10%
11 months5.16%
1 year5.20%
2 years5.55%
3 years5.53%
4 years5.46%
5 years5.38%
* Term Deposits 1 - 11 months, Fixed, CAR. Term Deposits 1 - 5 years, Fixed, Gross Rate.
 
Last edited:
Noor77 said:
I have a couple of thousand on deposit with Rabodirect. Does anyone know if I can swap the amount over to their new 6-month fixed rate account?

Thanks
Click to expand...

Absolutely no issue with doing this. As an existing customer you can set up your own term deposit in the secure banking site.

Please note that you would be entering into a contract for 6 months - if you require access to your funds sooner than this you would have to break your contract which would incur a break cost. The size of the break cost depends on how close the contract is to maturity.

RaboDirect
 
Could I put some of it in the fixed rate account and leave the rest where it is - in case I need to access some?

Thanks
 
No offence but you could probably save yourself a lot of time by just reading the product descriptions and terms & conditions which are online.
 
I'm an existing customer and when I click on new term account, the only option I see is to transfer money between my savings a/c and my current a/c.

How do get money into a term account? Does this need to be set up first?
 
Mit55 said:
I'm an existing customer and when I click on new term account, the only option I see is to transfer money between my savings a/c and my current a/c.

How do get money into a term account? Does this need to be set up first?
Click to expand...

In the secure site left hand menu choose: 'Term Deposits'.
Then click on 'New Term Deposit'. This should bring you to a screen that asks you to input the amount of your term deposit.
The next box asks you which account you intend funding the term deposit from, ie, you need to have funds in your RaboDirect Savings Account. You cannot fund your term deposit directly from an external account.

Example: set up a €10,000 term deposit for 6 months.
Amount: 10,000
From account: choose your RaboDirect Savings account from the drop down list

To account: choose your RaboDirect Savings account. This will be the account that the term deposit money will be sent to when the term expires.

Pay interest to account: choose your savings account. This will be the account that the interest (less DIRT) will be paid to.

Renewal characteristics: this option allows you to automatically renew the term deposit on maturation or not.

If you need any more assistance please feel free to contact the Customer Contact Centre and they will walk you through the steps if you need any help.

RaboDirect
 
Can I make a series of term deposits so that a few will be held in parallel with the terms expiring on different dates?
 
GeneralZod said:
Can I make a series of term deposits so that a few will be held in parallel with the terms expiring on different dates?
Click to expand...

If you create a term deposit today it will be expire in 6 months time. You cannot forward date a term deposit. So you would need to create a term deposit over the next few weeks to have them expire on future dates.
We do offer terms for greater than 6 months, eg, [broken link removed]

RaboDirect
 
To rephrase what I think is Zod's question, can someone hold multiple separate term deposit accounts concurrently, perhaps opened at different times?
 
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