# PTSB to cut fixed rates on deposits?



## longshot (6 Sep 2014)

For anyone interested in fixing, Permanment TSB rates to go south from Tuesday.


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## Brendan Burgess (7 Sep 2014)

Hi LongShot 

Can you be more specific? 

Are you saying that their fixed rates will be cut or that their SVR will be cut? 

Brendan


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## Lightning (7 Sep 2014)

Brendan, I think the OP is referring to deposits rather than mortgages. 



longshot said:


> For anyone interested in fixing, Permanment TSB rates to go south from Tuesday.



Thanks Longshot. 

PTSB have the highest fixed term deposit rates on the market. A correction is overdue. You can bet that KBC won't be too long dropping their rates after PTSB. 

I suspect that PTSB's variable deposit rates are also in for a correction. 

That just leaves online today or tomorrow to grab one of the market leading PTSB fixed term deposit rates. One should act fast if they want to be paid 2.25% AER Fixed.


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## longshot (7 Sep 2014)

Hi Brendan, I spoke to a PTSB rep about the 1 year fixed account over the phone on Friday, and he said their rates are being reduced from Tuesday. Thats all know.


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## Lightning (8 Sep 2014)

You were right Longshot. Almost all PTSB rates have dropped. 

I have updated the 3 threads.


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## Lightning (8 Sep 2014)

All the variable rate changes, including on legacy products, are now [broken link removed].


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## settlement (14 Sep 2014)

If I set up my account prior to these changes, am I still able to avail of the previous superior rate?


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## Lightning (14 Sep 2014)

settlement said:


> If I set up my account prior to these changes, am I still able to avail of the previous superior rate?



Did you set up a fixed or variable account prior to the changes?


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## settlement (14 Sep 2014)

I think fixed, how can I check?


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## Lightning (14 Sep 2014)

Check the paper work on the account or log in online and view your account.


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## settlement (14 Sep 2014)

Thanks Ciaran. I checked and it's variable rate. Pity, I don't remember choosing that option or why I would but I suppose I must have

EDIT: just looked on PTSB website there and the account is advertised as variable rate. Perhaps there is no way to get a fixed rate on this instant access account. And there was I thinking deposit interest rates could only go up!


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## Boyd (14 Sep 2014)

LOL!! Sure deposit rates have been going steadily down over last two years. As far as I know ,a fixed rate never applies to any account that isn't a fixed term. Otherwise they'd never be able to change the rate.


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## moneybox (15 Sep 2014)

It's useless now keeping money in the bank, the interest rate is pitiful and then the government takes nearly half of it in DIRT. It would be nearly better to keep it under the mattress at this stage, in a fire proof tin of course!.


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## sebadoh (15 Sep 2014)

moneybox said:


> It's useless now keeping money in the bank, the interest rate is pitiful and then the government takes nearly half of it in DIRT. It would be nearly better to keep it under the mattress at this stage, in a fire proof tin of course!.


so long as your not robbed!! (is it only €500 of cash that can be covered by insurance?)
Yes interest rates are pitiful now, banks are going to find it very hard to get people to save money now.


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