# Rabo 6 month term deposit



## regicide (24 Aug 2008)

Hi guys,

The 6 month term deposit rate for rabo is currently 5.25%

I read the following on rabodirect.ie

"** This rate is available to all customers with funds available in their RaboDirect Account on or before August 27th. A revised rate will be in place for our six month term deposit from that date."

Is there a general consensus on which way the interest rate will move after the 27th?

thanks 

Reg


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## GeneralZod (24 Aug 2008)

Looking at what RaboDirect have done recently might be some guide.

They've been consistently cutting their 1 - 5 years rates over the last several weeks. 

The one year rate has been slightly more resistant to cuts. They've held it at 5% while continuing to cut the rest.

A number of competitors have started offering clearly better (1 year) rates of 5.4%, 5.6% and 5.89% (20 months). But Rabo have shown no inclination to respond.

So my guess would be they'll either hold the six month rate at 5.25% or cut it further.


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## regicide (24 Aug 2008)

Thanks for the response


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## louthman7 (24 Aug 2008)

*Re: Rabo 6 month term deposit and Deposit Interest*

There was an article in the Irish Times two weeks ago that Revenue are going to look into any one that earns more than €650.00 in deposit interest.


Would one be wiser to keep their interest below  €650 and spread their money round a few different Bank's


John


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## messyleo (25 Aug 2008)

Surely if your tax affairs are up to date, you have nothing to fear though?

On the rabo note - it seems like they may lower the rate (unusual given that a lot of the banks are offering 5.6% etc.) for the 6 month term. The may have a new one year rate or somethng else to compensate, so we can only hope / wait and see!


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## ClubMan (25 Aug 2008)

_Revenue _are only interested in "hot" or undeclared money. If that is not an issue for you then you don't need to worry about it. If it is then you should talk to an accountant/tax advisor ASAP to regularise your affairs.


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## messyleo (27 Aug 2008)

The site now reads:

"This rate is available to all customers with funds available in their RaboDirect Account before 3pm on August 27th on amounts up to €200,000. A revised rate will be in place for our six month term deposit from that date."


*roll on 3pm!*


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## ClubMan (27 Aug 2008)

Couldn't they be revising the rate *downwards*?


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## messyleo (27 Aug 2008)

Indeed, I was just implying that we will know one way or the other  i.e. all will be revealed!


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## regicide (28 Aug 2008)

Well it looks like the downward prediction was indeed correct. 6 months interest rate is now 4.85 %

reg


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## messyleo (28 Aug 2008)

Very disappointing tbh, I've not been impressed with Rabo's rates over the past six months or so, I may have to reconsider where I put my funds!


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## severelyltd (8 Sep 2008)

As a customer of Rabo for the last two years I would caution against moving deposits elsewhere. Rabo's rates are not the best but at least its transparent and no BS from the likes of AIB who can't tell me what interest rate i'm on when it's paid or how its calculated. They advertised a 7% plus savings account that in reality paid around 4%. My simple advice in the current climate is to keep two brick and mortar accounts that are authorised to your rabo account and then you can move your money freely whilst getting a moderate return that's calculated on a daily basis. I belive Rabo is being cautious under the current climate and when banks start revealing the true extent of their exposure to the downturn Rabo will be standing strong. By the way I have a interest in IT security and Rabo's dongle system is as secure as it gets. AIB, not so good.


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## z101 (16 Sep 2008)

What do you think of BOI's online security severlyltd


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## keeptabs (16 Sep 2008)

Just got 5.7% for 12 months Fixed at EBS  ... and they will allow me one withdrawal ( I will have to access 20k in a few months)...
rate advertised was 5.6% I got the extra without too much difficulty... 
had to go through the usual review.. but was sorted after 15 mins


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## ClubMan (16 Sep 2008)

keeptabs said:


> Just got 5.7% for 12 months Fixed at EBS  ...


Definitely 5.7% *AER*?


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## lovelylovely (15 Oct 2008)

here is the rate page from EBS for fixed deposits of 1 year.

[broken link removed]


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