# Permanent TSB Hot 100 Account



## Starbuck (26 Mar 2009)

I've searched but can't find any chat on the PTSB's new offerring of 4.00% Gross on savings fixed for 100 days. 
You must lodge 10K.

Seems good to me.
Any thoughts?

Are they covered by the Irish Deposit Guarantee scheme?


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## kdoc (26 Mar 2009)

I opened one of those last week. Back in February ptsb were offerring 4.55% aer for a 75 day account


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## Happy Girl (26 Mar 2009)

Starbuck said:


> I've searched but can't find any chat on the PTSB's new offerring of 4.00% Gross on savings fixed for 100 days.
> You must lodge 10K.
> 
> Seems good to me.
> ...


 
[broken link removed]


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## Lightning (26 Mar 2009)

Starbuck said:


> Any thoughts?



Not the best rate and a very short period. You will get ((4.00%/365)*100)*0.77 - i.e. Peanuts.

You can get a much better rate for a 6 month TD or a 1 year TD. 

Also, PSTB will give you a much lower lower rate after your TD matures. 

Not a good offer for most saver profiles unless 100 days is really what you need.


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## theresa1 (26 Mar 2009)

Totally agree Fungus -dont be fooled by slick marketing -hot 100 my foot!


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## Happy Girl (26 Mar 2009)

fungus said:


> Not the best rate and a very short period. You will get ((4.00%/365)*100)*0.77 - i.e. Peanuts.
> 
> You can get a much better rate for a 6 month TD or a 1 year TD.
> 
> ...


 
Can you expand on this Fungus. Was going to switch from my 21day notice acc with PTSB to their 100day as I thought it was better deal given that the rate has dropped on the 21day Acc. Looked at other term deposits and best is Investec (5.58%)but minimum investment is 20k (mine is 10k investment), next is Anglo with 4% but "Rate quoted is an annual rate; return will be based on 6 month equivalent". So what I am reading here is that PTSB is actually the best of them for 100days. Am I reading this correctly?


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## Lightning (26 Mar 2009)

Happy Girl said:


> Can you expand on this Fungus. Was going to switch from my 21day notice acc with PTSB to their 100day as I thought it was better deal given that the rate has dropped on the 21day Acc. Looked at other term deposits and best is Investec (5.58%)but minimum investment is 20k (mine is 10k investment), next is Anglo with 4% but "Rate quoted is an annual rate; return will be based on 6 month equivalent". So what I am reading here is that PTSB is actually the best of them for 100days. Am I reading this correctly?



Yes, PTSB is "the best for 100 days" but there is very little competition in such a short term deposit offer. The best rates exist for "proper" 6 month and 1 year term deposits products. 

You need to ask yourself 
Are you not better off with an on demand account at 4.75% ?
Can you not lock for 6 months or 1 year ? 
Are you happy that when your 100 days expires that the ECB rate will most likely be on a lower rate? 

Unless you have a significant sum and you need the money in 100 days then you are better off with other savings products.


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