# EBS now paying 3.64% for a 5 month Term Deposit



## Lightning (27 Aug 2010)

This deserves it's own thread. 

EBS are now paying 3.64% for a 5 month term deposit. This is at least a 2010 high for term deposit rates. 

http://www.askaboutmoney.com/showthread.php?t=101813

[broken link removed]


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## bmclough (13 Sep 2010)

Looking at the calculator on this link



The 5 month pays €282.94 interest on 25k @ end of term.

Would DIRT be applied to this after?
Thanks


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## z107 (13 Sep 2010)

...


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## Gervan (13 Sep 2010)

They are quoting the interest *after* DIRT deduction.


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## canicemcavoy (13 Sep 2010)

Sounds good, especially for such a short term - any catch?


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## Lightning (13 Sep 2010)

No, just take your money out after 5 months.


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## sunrock (14 Sep 2010)

If you deposit a cheque you have to wait 5 working days for it to clear..no interest in those days. Also people should remember you get less for the first month than the last month of the year because of interest on interest etc. Otherwise  a good deal.


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## truthseeker (14 Sep 2010)

Note the small print on the brochure says that the closing date for this is 24th September 2010 and may be earlier if the product is fully subscribed before then.


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## oldtimer (14 Sep 2010)

My 1 year term account with EBS expired last week. I tried to re-invest it in this 5 month product but they refused to accept it as it wasn't ''new'' money. I then told them I would withdraw the money altogether on Monday and come back with it on Tuesday. Again they refused it saying ''they would know it had come out of an EBS account.'' I had to withdraw it altogether and have lodged it with Nationwide UK.


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## Gervan (15 Sep 2010)

oldtimer, if you have the funds in Nationwide UK on easy access, you could try withdrawing a slightly lower amount than you took out of EBS, then you could present it on a Nationwide UK draft, and say it was "new" money from funds that had been on deposit there.
I "recycled" an EBS deposit through Halifax this way, the last time they had a good offer on.


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## pennies (22 Sep 2010)

Would it be safe to deposti 100k with ebs. I have withdrawn funds from aib online 7day ac and my ulsterbank e savings as i felt this is a much better deal for my lumo sum. Just wondering would it be safe as its my life savings at the minute....if ebs were sold would this effect my deposit. Sorry but Im clueless when it comes to deposits. any advice appreciated.


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## Lightning (22 Sep 2010)

pennies, Make a decision very fast, the EBS term deposit rate offer expires tomorrow, September 24th 2010.

Your EBS term deposit is Irish state guaranteed. EBS is controlled by the Irish government. Your deposit is as safe as the solvency of the Irish state.


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## Bcommercial (22 Sep 2010)

CiaranT said:


> Your EBS term deposit is Irish state guaranteed. EBS is controlled by the Irish government. Your deposit is as safe as the solvency of the Irish state.



It's just that last bit about "as safe as the solvency of the Irish state" that niggles a bit. Does anyone else get a feeling of desperation in the air on their part to try lock in funds for longer periods with this new headline rate? It's the only offer that hits you  on their website, where formerly different options used to appear every few seconds, you really can't miss it, and yesterday I passed an EBS and the entire window appeared plastered with 3.6%  posters. Ok, so they're doing a good job advertising their new product as you'd expect, so what? Well, I don't know, maybe I'm just being over cautious and the product really is as safe as ... "houses"? .."the Irish state"?. It certainly is the best rate around and no less safe than any of the other domestic banks, so I suppose it all boils down to how long you feel comfortable with locking your money away in an Irish bank for.


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## TravisT (24 Sep 2010)

I see they've extended offer until 30th Sept


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## truthseeker (24 Sep 2010)

TravisT said:


> I see they've extended offer until 30th Sept


 
They mustnt have had the take up they were hoping for. I recently got some Savings Certs from An Post and the girl told me they were inundated with people getting them.


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## kinglynn (24 Sep 2010)

Re: An Post Saving Certs/Bonds

If the State goes bankrupt - where are your savings??


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## monagt (24 Sep 2010)

I will give you 30p in  1 Euro and call it quits, cause I don't have any more as its all gone, Brian Lenihan

Ramona Ruiz, a retired textile worker, railed at an empty ATM machine, "That is my money inside that bank, mine!"[5]  Another, unidentified woman yelled at a government spokesman:  "How dare you take my savings."  Jose Valenzuela, an Argentine salesman, stated, "It's as if while I am talking to you I'm swiping the change from your pocket."[6]  More poignantly, an Argentine businessman lamented, "It is trampling on our liberties. . . . I feel my civic rights, my private rights, have been violated."[7]  Finally, Argentine union leaders incisively denounced the policy as "the hijacking of a nation's savings."[8]

Ref: http://mises.org/daily/890


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## kinglynn (24 Sep 2010)

So its bye bye money??


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## SlurrySlump (24 Sep 2010)

oldtimer said:


> My 1 year term account with EBS expired last week. I tried to re-invest it in this 5 month product but they refused to accept it as it wasn't ''new'' money. I then told them I would withdraw the money altogether on Monday and come back with it on Tuesday. Again they refused it saying ''they would know it had come out of an EBS account.'' I had to withdraw it altogether and have lodged it with Nationwide UK.


 
Only in the EBS.


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## Lightning (24 Sep 2010)

Ulster play the same "new money" T&C trick.


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## ardmacha (28 Sep 2010)

I moved some money from INBS into the EBS 5 month term, somewhat improving security and maginally increasing the interest rate as well. 

I previously commented here that the EBS were unfriendly towards existing customers, requiring appointments and the like and requiring documentation as if you were opening a new account, even though the money laundering legislation did not require this (and they had the deeds of my house!).

I have to say that the process today was friendly and efficient, a consultation was offered but no problem if I didn't want it and the only extra information sought was my PRSI number (although they probably have that too from mortgage interest relief). So if I complain when bad I also praise when things get better.


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## SoylentGreen (29 Sep 2010)

Yes but you weren't dealing with Mary this time.


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## Lightning (29 Sep 2010)

Who's Mary?


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