# Savings rate changes after ECB cut



## camlin90 (15 Oct 2008)

Following the ECB's recent 0.5% rate cut, it might be a good idea to flag changes in deposit interest rates as they happen, so that people can keep informed if accounts become more or less competitive.

*Irish Nationwide Regular Saver*
Down from 7.6% to 7.1% - 15/10/2008
(expected as the account tracks ECB + 3.35%)


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## GON10 (16 Oct 2008)

EBS Regular Saver down .5% to 7% even though still advertised at 7.50% on web site


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## TheJackal (16 Oct 2008)

GON10 said:


> EBS Regular Saver down .5% to 7% even though still advertised at 7.50% on web site


 
Bank websites are always slow updating their websites. First Active's 7.15% lost its claim as the market leading rate about a year ago, yet they still claim this on their website!

Branches also do not update regularly enough. I saw posters on the windows of Irish Nationwide branches, stating their rate was 7.35%, despite how the ECB had gone up weeks earlier, meaning their rate was now 7.6%

Just this lunchtime, I was in an AIB branch & noted they are still advertising tracker mortgages, even though they pulled the plug on these for new customers last week!


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## pudds (16 Oct 2008)

TheJackal said:


> Just this lunchtime, I was in an AIB branch & noted they are still advertising tracker mortgages, even though they pulled the plug on these for new customers last week!



Christ if they cant even keep their shop window diisplays up to date it's no wonder they got us into this mess.


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## camlin90 (21 Oct 2008)

*AIB Regular Savers issued post 19/02/2008*
Down from 7.50% to 7.00%

*AIB 7 Day Online Notice*
Balances up to 10K - down from 5.25% to 5.00%
Balances above 10K - down from 3.75% to 3.25%


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## ClubMan (22 Oct 2008)

The best buys threads are kept up to date on this stuff already:

http://www.askaboutmoney.com/showthread.php?t=20747


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## Pope John 11 (10 Nov 2008)

TheJackal said:


> First Active's 7.15% lost its claim as the market leading rate about a year ago, yet they still claim this on their website!


 
Can


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## Pope John 11 (10 Nov 2008)

TheJackal said:


> First Active's 7.15% lost its claim as the market leading rate about a year ago, yet they still claim this on their website!


 
Can anyone tell me if anyone knows if the regular savings account with 1st Active is based on the ECB rate. The figure of 7.15% is still advertised on their website & appears to be still advertised here on this website too.


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## pator (11 Nov 2008)

Are the banks playing a waiting game to see what the opposition does with the rate cuts? (Good for consumers if so)

Have a tracker so mortgage paments have fallen nicely, 

but have an Anglo Regular saver and premium deposit and the 8% and 5.5% are still the same, and the other main players don't seem to have dropped rates either

If it was the other way around we (consumers) would be all very irate, and going "mad" on various websites.


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## ClubMan (11 Nov 2008)

Pope John 11 said:


> Can anyone tell me if anyone knows if the regular savings account with 1st Active is based on the ECB rate.


I'm virtually certain that it is not.


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## camlin90 (12 Nov 2008)

*Irish Nationwide Regular Saver*
Down 0.5% from 7.1% to 6.6% - 12/11/2008


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## camlin90 (13 Nov 2008)

*First Active E-Savings*
New rates:
4.75% for balances up to €15,001 (down 0.47% from 5.22%)
3.80% for balances above €15,001 (down 0.53% from 4.33%)

New rate effective from Tuesday 18/11/2008, so you have a few days to get the hell out of there.


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## camlin90 (15 Nov 2008)

*Halifax Fixed Term Accounts*
The rate on the 1 year fixed account is dropping from 5.9% to 5.6% from Monday 17/11/2008.


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## MysticX (18 Nov 2008)

We already knew about some of these cuts, though I think some of these are new.





> Irish Nationwide Building Society had been competing hard in the fixed-rate deposit market. It had been paying 6pc for money on deposit for six, nine and 12 months, but has now cut that to 5.25pc.
> Bank of Scotland had been paying 6.25pc fixed for six months, and 6pc for three months for amounts over €100,000. The new rate is 5.5pc for six months and 5.25pc for three. Its sister bank Halifax said that from this week it will pay 5pc on three-month deposits, down from 5.65pc, and 5.6pc on money deposited for a year, reduced from 5.9pc.
> First Active has reduced the rate it pays on a number of other savings products.
> Its eSavings account will see its interest rate reduced today from 5.22pc to 4.75pc for amounts up to €15,000. For amounts over that the entire amount will now attract a rate of 3.8pc, down from 4.33pc.
> ...


 
Alright it's only really the BOS and AIB parts that are new (just checked the rest of the thread in fine detail).


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## oldtimer (18 Nov 2008)

Gosh, Northern Rock demand on line account with full British Treasury guarantee at 5% is getting more attractive every day. So far no sign of a reduction.


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## camlin90 (18 Nov 2008)

AIB's rates have been updated on the website. Most notably:

*AIB 7 Day Notice*
Down 0.5% from 5% to 4.5% - confirming MysticX's article above.

*AIB Regular Saver*
Down 0.5% from 7% to 6.5%

*AIB Parent Saver*
Down 0.5% from 10% to 9.5%

Also, across the road:

*Ulster Bank ESavings
*Down 0.5% from 4.4% to 3.9%


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## iggy (19 Nov 2008)

oldtimer said:


> Gosh, Northern Rock demand on line account with full British Treasury guarantee at 5% is getting more attractive every day. So far no sign of a reduction.


 Seems to be the best demand account at the moment. I withdrew all but ten euros or so from my First active esaver account today and did the same with my AIB 7 day online account too...all going to Northern Rock (where I already have most of my savings anyway), only Halifax flexisaver account @ 5.15 left to date.


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## Darando (19 Nov 2008)

iggy said:


> Seems to be the best demand account at the moment. I withdrew all but ten euros or so from my First active esaver account today and did the same with my AIB 7 day online account too...all going to Northern Rock (where I already have most of my savings anyway), only Halifax flexisaver account @ 5.15 left to date.


 
Anglo still have their deposit account at 5.5%.


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## iggy (19 Nov 2008)

Darando said:


> Anglo still have their deposit account at 5.5%.


 I agree Darando but it`s hard to weigh up the security of N.Rock @5% versus the apparent volatility of Anglo @5.5% at the moment.


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## oldtimer (19 Nov 2008)

Rabodirect have reduced their demand rate from 4.3% to 4%


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## VanZan (20 Nov 2008)

Ulster Bank's eSavings is down from 4.4% to 3.9%. The eSavings Plus seems to be holding however.


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## pudds (20 Nov 2008)

damm but ta for that, time to shift a few bobs out of it so.


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## Taxi Driver (20 Nov 2008)

The AIB Online Personal Savings Plan Account has been cut from 4% (up to max 6% with bonus interest) to 3.5% (up to max 5.25% with bonus interest).

The maximum rate on this account (i.e. every five years) has dropped from 6.75% to 5.25% in the last month.


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## camlin90 (3 Dec 2008)

*Anglo Irish Bank*

Easy Access
4.25% ==> 3.5%

7 Day Notice
4.25% ==> 3.5%

30 Day Notice
4.65% ==> 4%

Effective 01/12/2008


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## Lightning (3 Dec 2008)

John J said:


> *Anglo Irish Bank*
> 
> Easy Access
> 4.25% ==> 3.5%



I assume the Easy Access account is a different product to the Anglo Irish Bank (Premium Demand Deposit) account which still seems to offer 5.5%?


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## pator (3 Dec 2008)

fungus said:


> I assume the Easy Access account is a different product to the Anglo Irish Bank (Premium Demand Deposit) account which still seems to offer 5.5%?


 
yes the easy access and premium demand are different products. 

The premium demand is still at 5.5% (for under 100k) 
has not moved down with either of the two ecb reductions (so will prob have to move if there is another reduction tomorrow IMHO)


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## camlin90 (11 Dec 2008)

*Irish Nationwide Regular Saver*
6.60% ==> 5.85% (ECB + 3.35%)


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## camlin90 (16 Dec 2008)

A range of cuts at AIB, effective immediately. Amongst them:

*Online 7 Day Notice *
4.50% ==> 3.75%

*Regular Saver*
6.50% ==> 5.75%

*Parent Saver*
9.50% ==> 8.75%

For full details, see here
http://www.finfacts.ie/irishfinancenews/article_1015545.shtml


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## camlin90 (17 Dec 2008)

*First Active Regular Saver*
7.15% ==> 6.40%

Effective immediately


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## SlurrySlump (17 Dec 2008)

pudds said:


> Christ if they cant even keep their shop window diisplays up to date it's no wonder they got us into this mess.


 
On a regular basis the NIB branch in Stillorgan have their brochure holders empty and I am talking about the ones on the counter sitting in front of the cashiers. I always wonder why they never notice, yet they can all find the porch of the XtraVision next door to have their early morning smoking breaks. They also have a flat screen T.V. on the wall behind the cashiers that was switched on for a few weeks after they were acquired by Danske Bank. It is never switched on anymore.


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## TheJackal (17 Dec 2008)

John J said:


> *First Active Regular Saver*
> 7.15% ==> 6.40%
> 
> Effective immediately


 
Not impressed! When did this change happen? Would be nice if they informed me.


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## SlurrySlump (17 Dec 2008)

TheJackal said:


> Not impressed! When did this change happen? Would be nice if they informed me.


 
First Active don't inform people about rate changes. It happened to me when I had an ECB rate linked deposit account. They changed the rate even though the ECB hadn't reduced the rate, just decided to drop the rate. When I complained I was told that they put an advert in the newspaper. I suggested that they should post out a bank statement to it's customers whenever there is a rate change showing the change.
About 4 weeks later I was posted my annual statement for a demand deposit account that I also had. They had included a leaflet showing the "old" deposit rates that they had prior to the rate drop. I rang them again saying they shouldn't be posting out interest rate leaflets that were incorrect and out of date. I got the usual standard apology thanking me for bringing this to their attention.
They just don't care.


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## irishlinks (17 Dec 2008)

EBS regular saver (optimise account) reduced to 5.75%


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## Darando (17 Dec 2008)

So it seems Anglo are the only ones who haven't dropped any rates (incl the last 2 ECB drops)!!!

Still 5.5% for Demand and 8.00% for reg savers....

Is this due to them waiting for the new owners to decide???  or else they really badly need the deposits, must be cheaper to get the cash elsewhere though


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## Nemesis (17 Dec 2008)

Northern Rock and Halifax (Flexi Saver) haven't passed on any ECB rate cuts to savers yet either.


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## Lightning (17 Dec 2008)

Darando said:


> Is this due to them waiting for the new owners to decide???



Anglo are number one with almost all savings products. 

Why? they need the cash.


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## Taxi Driver (19 Dec 2008)

Taxi Driver said:


> The AIB Online Personal Savings Plan Account has been cut from 4% (up to max 6% with bonus interest) to 3.5% (up to max 5.25% with bonus interest).
> 
> The maximum rate on this account (i.e. every five years) has dropped from 6.75% to 5.25% in the last month.


 
The base rate on the Online PSP Account has now gone down to 2.75%.  The top rate possible is now 4.125% (i.e. plus 50% bonus interest after five years satisfying the terms and conditions).  

The average rate over a five year period if the terms and conditions are satisifed is 3.575%.


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## raven (19 Dec 2008)

Permanent TSB has dropped it rates.

[broken link removed]

1 year fixed term down to 4.4% from 5.3%


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