# PTSB deposit interest rates



## jonocon (3 Aug 2011)

i got a call this morning from PTSB telling me that my INBS money will be maturing tomorrow and would I consider reinvesting it with them. I said I was putting it away for 18 months with EBS at 6.5% and that PTSB only offer 6%. She told me she would ring me back in 5 minutes. She rang back in about 4 minutes and told me they would give me 6.65% if I kept it with them. I'm going in to meet them tomorow at 1030. i have kept all my money in Irish banks since the outset of this debacle so i'm not interested in hearing from the doomsdayers saying i'll lose it all. I thought people may be interested in hearing this, ask for a higher rate or tell them you will take ur money out.


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## marksa (4 Aug 2011)

jonocon said:


> She rang back in about 4 minutes and told me they would give me 6.65% if I kept it with them. I'm going in to meet them tomorow at 1030. i have kept all my money in Irish banks since the outset of this debacle so i'm not interested in hearing from the doomsdayers saying i'll lose it all. I thought people may be interested in hearing this, ask for a higher rate or tell them you will take ur money out.


 
Shows how utterly desperate and short-term the bank's mindset is. keep the cash at all costs. All that this is doing is ensuring that the crazy prices being paid by Irish banks will continue for some time. What they should be doing is cutting their deposit rates to more sustainable rates. You have already indicated that you are keeping your money with Irish banks from the outset and the majority of people with cash in Irish Banks now are of the same mind. So why do the Irish banks need to pay about 3% more than they need to for cash? Why don't they all drop their rates by 3% and use the difference to help to return to profitability - and build up capital base again.


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## Protocol (4 Aug 2011)

A friend was offered 4% on 100k+ for a 2-month PTSB deposit, 0.25% above the advertised rate.


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## jonocon (4 Aug 2011)

hi there
I'm getting my interest paid monthlyu into my bank account, the rate for this account is 4.5% and they have given me an ad on, wait for it, of 2.15%, absolutely incredible, all I did was tell them i was going to move it to EBS, which i was going to do by the way. I'm not kidding when I tell you they literally rolled out the red carpet for me


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## jonocon (4 Aug 2011)

Why don't they all drop their rates by 3% and use the difference to help to return to profitability

Hi marksa, looks to me like one bank raising rates and the herd mentality is to follow, it's like Anglo Irish again, they were mopping up cash and the rest folllowed, developers, trackers etc etc etc, we know where that got us


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## marksa (5 Aug 2011)

jonocon said:


> looks to me like one bank raising rates and the herd mentality is to follow, it's like Anglo Irish again, they were mopping up cash and the rest folllowed, developers, trackers etc etc etc, we know where that got us


 
got it in one... the question is how long will they continue to wander around like sheep before some wolf picks them off...


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