# KBC Extra Regular Saver threshold



## Hiragii (10 Feb 2019)

In the best buys post for deposits, the following it's written:

_"2.10%* on €1 to €40,000
0.01% up to €1,500,000 *on the whole balance* if the balance exceeds €40,000"_

Also, in KBC's term and conditions:

"Once the balance reaches €40,000 (including interest credited to the account), *the full balance *will earn interest at the then prevailing Standard Demand Deposit Account interest rate."

My current balance in the account is ~€34,000 and I'm depositing €1,000 per month. Does it makes sense to switch to €100 deposits to keep the 2.10% rate for longer and invest the rest in something different?

Thanks.


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## Lightning (10 Feb 2019)

Best bet is to keep depositing 1,000 EUR per month until you are up to around 39,000 EUR or so, then switch to depositing 100 EUR a month and set a reminder in your calendar to manually withdraw 100 EUR too.

Do not let the balance exceed 39,999.99 EUR.

Keep in mind that interest is paid on 31 December so you will need to withdraw that too.


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## Hiragii (10 Feb 2019)

Thanks Ciaran, that makes sense! 

For some reason I thought I could only withdraw from the account a few times per year, but if I can withdraw every month that's perfect.


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## HollowKnight (10 Feb 2019)

I've made one or two withdrawals a year without any problems (new bathroom and then new kitchen). 

Agree with above. Keep a little below the 40k mark.


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## mc-BigE (17 Feb 2019)

Not really a theashold question, but regarding the 10,000 lump sum, can I put say 3000 lump sump in now , and 7000 lump sum in say a years time , or does it have to by one payment of 10,000 only?


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## pudds (17 Feb 2019)

mc-BigE said:


> Not really a theashold question, but regarding the 10,000 lump sum, can I put say 3000 lump sump in now , and 7000 lump sum in say a years time , or does it have to by one payment of 10,000 only?


 
*One* lump sum of *up to* 10k permitted.


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## Mickey1985 (7 May 2019)

Hi folks did ye send in a letter to change the quantity deposited from 1000 to 100 or just setup a new standing order on the app?


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## Lightning (7 May 2019)

New standing order.


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## pclive (14 May 2019)

Does it have to be done by a standing order from your KBC account ? I have just been transferring it across manually every month


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## pudds (14 May 2019)

Standing order only


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## Lightning (14 May 2019)

pclive said:


> Does it have to be done by a standing order from your KBC account ?



Yes


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## pclive (14 May 2019)

Thanks for the info


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## The Oggster (13 Jun 2019)

It doesn't have to be a standing order anymore and can be deposited in several transactions manually, once the total deposited per month is between €100-€1000 and it comes from your extra current account.


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## Lightning (13 Jun 2019)

Thanks for pointing this out. 

I have updated the best buys.


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## pudds (27 Jun 2019)

I see they are  "reducing the lodgement requirement from €2,500 to €2,000 to make it easier for you to avail of the account benefits available to Extra Current Account customers" from *August 26th* next. Good new but hope they don't drop the int rate any further.


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## Lightning (27 Jun 2019)

I updated the current account best buys on this previously. I have now added a note on this in the savings best buys. 



pudds said:


> hope they don't drop the int rate any further.



You can bet that they will.


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## HollowKnight (28 Jun 2019)

CiaranT said:


> You can bet that they will.


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## pudds (11 Jul 2019)

Would withdrawing the monthly €2,500 from your regular saver to extra current account and then sending it back, is this possible and would it meet the requirements.

If yes is it a wise thing to do?


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## Gervan (11 Jul 2019)

pudds, you won't be able to put €2500 back into the Regular Saver every month, if €1000 is the maximum deposit allowed.


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## shipship (17 Sep 2019)

I didn't realise I had to lodge to the saver every month (I've been lodging the 2k). Generally I've lodged 1k, but I've missed a few months this year. 

What happens? I miss out on interest?


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## Lightning (17 Sep 2019)

Yes, you miss out on most of the interest. You are not entitled to the bonus element of the interest.


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## coldcake (18 Sep 2019)

Wait I’m confused here it’s says max is 50k Link and here it says 40k Link 
So which is it?


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## HollowKnight (18 Sep 2019)

It's 40k - your first link is about a different account 'Regular Saver', not the 'Extra Regular Saver'.


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## Mcgoo19 (18 Sep 2019)

Letter in the door this morning. Rate has been cut(again!) effective from 18th November. Please can you confirm and update the deposits page CiaranT. 

Standard variable rate is 0.25% AER
Bonus rate is 1.00% reduced from 1.50% effective from November 19th.


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## Lightning (18 Sep 2019)

Done. Thanks. Your post is confirmed by a note on their website. Best buys updated.


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## Martyn (19 Sep 2019)

Mcgoo19 said:


> Letter in the door this morning. Rate has been cut(again!) effective from 18th November. Please can you confirm and update the deposits page CiaranT.


Yes, and with an effective rate of approx. 0.84% after DIRT tax has been taken (I'm basing that on 33% DIRT for year 2020 and onwards) that puts it below even a State Savings 5 year savings certificate (although I know with that you have to commit for five years to get the full return, albeit you can get your original money back earlier if you need to). Very disappointing.


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