# Rabodirect demand deposit - Increase to 2.25%



## tomreillly (13 Apr 2011)

Rabo to increase deposit rates from 2% to 2.25% for demand account with effect from next Monday 18th

[broken link removed]


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## Lightning (14 Apr 2011)

Thanks for posting this. 

Rabo - Well done for passing on the ECB rate increase to customers.


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## CashMoney (14 Apr 2011)

Nice one


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## farmerette (15 Apr 2011)

silly question i know but are rabbo involved in any of the guarentee schemes , i realise they have a very secure rating but are the covered by the dutch state ?


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## Sue Ellen (15 Apr 2011)

farmerette said:


> silly question i know but are rabbo involved in any of the guarentee schemes , i realise they have a very secure rating but are the covered by the dutch state ?



If you look at the Best Buys section of AAM you will see which guarantee covers the individual companies.  The details of the [broken link removed] are shown at the bottom of that page under General Notes.  

You can also get this type of information on www.itsyourmoney.ie which is maintained by the National Consumer Agency.


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## tosullivan (15 Apr 2011)

good news..


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## GSF (15 Apr 2011)

Suspect that Rabo must have been losing quite a lot of their depositer base and they were forced to move. Rabo rates are far from attractive still even with the 0.25 hike.


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## theresa1 (16 Apr 2011)

Yes I prefer 3.10% from AIB (Anglo Irish Bank) which is still available up to €100,000.


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## CashMoney (17 Apr 2011)

theresa1 said:


> Yes I prefer 3.10% from AIB (Anglo Irish Bank) which is still available up to €100,000.


 
I don't think it's the interest rates that are putting people off AIB. It's more likely that the risk that AIB/the state might not be able give you your money back is putting people off.


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## theresa1 (17 Apr 2011)

CashMoney - point I was trying to make is that you can still open higher rate a/c's with AIB through Anglo Irish Bank. Rabodirect rates are still too low.


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## pudds (17 Apr 2011)

every little helps, maybe the others will follow


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## CashMoney (17 Apr 2011)

theresa1 said:


> CashMoney - point I was trying to make is that you can still open higher rate a/c's with AIB through Anglo Irish Bank. Rabodirect rates are still too low.


 
I know what your point is. My point is that it's not much use getting a higher rate if you don't get your money back. Personally, I think the rabo rate is more enticing considering the safety level of rabo versus AIB.


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## bugler (18 Apr 2011)

Rabo have been inundated with account opening requests, so you can be fairly sure they haven't been suffering, but they may be trying to grow even further their market share. The higher interest rates offered by the zombie banks mean little enough to savers concerned about getting their money back.

There isn't a rate they could offer me to get me to put my money in a failed bank, supposedly propped up by a fiscally failed state. Even assuming the full return of any amounts should the worst happen, it's a stress and concern I don't need right now.


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## marksa (18 Apr 2011)

theresa1 said:


> Rabodirect rates are still too low.


 
totally disagree, they are market rates for their rating. converse is that AIB et all are paying too low. If you are foolish enough to put money on  deposit with them, why not just buy Irish govt bonds with a yield of close to 9%?


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## NHG (18 Apr 2011)

Where can you buy these government bonds


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## marksa (18 Apr 2011)

NHG said:


> Where can you buy these government bonds


 
You can buy them through brokers, or in my case I can buy them online using NIB internet banking into my custody account. I am by no means advocating buying Irish govt bonds, indeed they are high risk - but in my opinion, so is putting deposits into banks that are owned by the Irish state.


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## Black Rock (18 Apr 2011)

On the NTMA website there is list of 9 Irish brokers, with names & contact numbers, and it shows the fees that each broker charges. See under "Government Bonds" and then "Where to Buy Bonds". 

Last night's interest rate or yield is shown under "Outstanding Bonds" and the at the top of that web page there is pdf called "Today's Irish Government Bonds Outstanding Report" which is updated daily. 

While these wholesale Irish Government bonds currently pay a high return it is taxed at your marginal tax rate (20% or 41%), and subject to the universal social charge and may also be subject to PRSI. 

On the other hand the retail Government savings products (which carry the same risk) known as NTMA State Savings (see 4 brochures on their website) pay lower gross interest but the tax treatment is more favourable (either low or not tax) and this may produce in a higher net after tax return.


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## theresa1 (19 Apr 2011)

marksa - I agree AIB are paying too low - I'm only with them now as I got moved over from Anglo.


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