# Investec 18month - 6.85%



## NorfBank (18 Nov 2011)

From the   
SOUTH African-owned bank Investec has upped the ante in the deposit price war by launching an 18-month account paying 6.85pc.

http://www.investec.ie/#home/Deposit_Accounts/personal_deposit_accounts/Fixed_Term_Accounts.html


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## RMCF (18 Nov 2011)

A good rate (5% clear after DIRT taken off), but for Investec you generally have to have a minimum of €20,000 to put away.


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## Lightning (18 Nov 2011)

4.52% AER. 

Term deposit rates continue to go up despite the ECB cut.


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## Aureus (18 Nov 2011)

At 4.52% it's a good rate.

But please don't quote it as "6.85%". It's the AER figure that matters. It's bad enough that the banks are allowed to get away with this kind of misleading advertising; we shouldn't encourage them by following their lead.

I think this thread should probably be renamed.

(end of rant)


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## mcriot29 (19 Nov 2011)

I got 25.25  from ebs today for 5 years was about to move to ptsb but ebs gave me that rate to stay with them so it pays to ask


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## ClubMan (19 Nov 2011)

mcriot29 said:


> I got 25.25  from ebs today for 5 years was about to move to ptsb but ebs gave me that rate to stay with them so it pays to ask


What's the _AER_? And this rate is a special not advertised on their website as far as I can see? I agree about asking/haggling.


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## mcriot29 (19 Nov 2011)

Hey no its not on there website they said they would give me it as i was going to put into ptsb which is 25 percent gross over 5 years so ebs beat there offer.
To keep my funds with them so i got 25.25 gross over 5 years work the AER is just over 5 percent


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## ClubMan (19 Nov 2011)

Are you sure? I estimate that €100 turning into €125.25 over 5 years is actually a _CAR/AER _of 4.61%.

http://www.investopedia.com/calculator/CAGR.aspx


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## mcriot29 (19 Nov 2011)

Hey they said ill get just over 5 percent a year there paying me by the month into current account its 25.25 gross over 5 years


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## ClubMan (19 Nov 2011)

What _AER/CAR _did they quote you?


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## Lightning (19 Nov 2011)

mcriot29 said:


> I got 25.25  from ebs today for 5 years was about to move to ptsb but ebs gave me that rate to stay with them so it pays to ask



Fair play to you for getting a non-advertised rate. This is becoming more and more common with deposits in Irish banks. 

Were you happy to lock your money away in EUR for 5 years with EBS?


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## Aureus (20 Nov 2011)

"they said ill get just over 5 percent a year"

Sounds like they were being dishonest.


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## Lightning (20 Nov 2011)

Yes, they were. All deposit rates should be quoted using AER and nothing else. Gross rates are highly misleading.


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## mcriot29 (20 Nov 2011)

I went by the amount i get per month which when i work out comes to 5 percent gross per year so im happy as rates will go down and for the next 5 years ill have a good rate


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## ClubMan (20 Nov 2011)

It won't be 5% per year.


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## mcriot29 (20 Nov 2011)

I will call them monday maybe aer will be 4.61 but the money im getting per month comes to the 5 percent rate over the year i will find out


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## Laramie (24 Jan 2012)

Can you still "walk in" to the Investec office in Harcourt St. and open an account?  I don't seem to see this service available or advertised?


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## Lightning (24 Jan 2012)

mcriot29 said:


> I will call them monday maybe aer will be 4.61 but the money im getting per month comes to the 5 percent rate over the year i will find out



Do you get paid monthly with this account? I thought Investec only pay on maturity date?

As ClubMan says, the rate is not 5%.


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## Lightning (24 Jan 2012)

Laramie said:


> Can you still "walk in" to the Investec office in Harcourt St. and open an account?  I don't seem to see this service available or advertised?



You previous could. I have done it before. They don't advertise this fact.


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## Palerider (31 Jan 2012)

You can still walk in but always better to make an appointment, I've done both, I was wondering how mcriot got on when he queried, I have funds maturing shortly and the idea of 5% gross payable monthly to my account over 5 years is pretty enticing, sounds unrealistic tho'...any updates ?


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## Black Rock (31 Jan 2012)

*NTMA State Savings*

NTMA State Savings pay a *tax free* rate of 
17.50% (AER 3.28%) over 5 years or 
21 % (AER 3.53%) over 5 1/2 years. 

To beat those rates, an alternative product which is subject to DIRT at 30% would need to pay 
25% (AER 4.69%) over 5 years or 
30% (AER 5.04%) over 5 1/2 years. 

However, all is paid on maturity - there are no monthly interest payments.

[broken link removed]

Interest Rates Table for all State Savings products
[broken link removed]


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