# Irish Nationwide Flexisaver 21



## firsttimebuy (3 May 2007)

Does anybody have any information on the Irish Nationwide Flexisaver 21? I have looked on their website and also emailed them but can't get any information. I also asked in a branch but they said the brochure was not ready yet.


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## dee06 (3 May 2007)

The brochures are out allright. 

-It is a share account.
-The rates from €20,000 to €39,999 is 4.5%. 
The rate from €40,000-€75,000 is 4.75%. The max balance is €75,000.
-21 day notice to withdraw. No cash withdrawals.
-Minimum lodgements after initial lodgement is €100. 
-There is a 14 day cooling off period after you open it if you decide its not for you.
-Account only available from 27/4/07 until 31/5/07 (though I think they are planning some other new regular saver plan after that).
-They guarantee to track the ECB within a certain % until 31/12/2009 but the rates go down after 31/12/2007 and again after 31/12/2008. I think in 2009 the €20-€39,999K band is just at ECB rate and the €40-€75K band is within +0.50%.

It's a good product, a shame they are only doing it till 31/5/07


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## Daddy (6 May 2007)

So, i presume all those holding Freedom Accounts which offer alower rate of interest - could now switch into this Flexisaver a/c and get the better rate of interest.

I.e those who invested 20k in the hope of a windfall.

Presume this switch would not effect the windfall as the flexisaver is considered a share account


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## z108 (6 May 2007)

does this mean I can still open a share account (Flexisaver 21) with irish nationwide and participate in any demutualisation which cant be too far off now ?


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## Daddy (6 May 2007)

Sign:

If you are not a member already and are thinking of just opening an account now with the hope of a windfall I would advise you not to do so if you hope to gain from a windfall.  I would say without a shadow of a doubt that the demutualisation will happen within the next 12-18 months thereby excluding you from a windfall.

I was merely pointing out an assuming that those who have opened accounts with 20k in the past year or more could possibly move to the /flexisaver 21 to get a better rate of interest than exists on the freedom a/c - but everyone should check my assumption that you can switch without effecting your membership status.


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## z108 (6 May 2007)

well thats kind of interesting  to me (even more interesting if im not excluded from an eventual demutualisation) because I have a lot of cash on deposit right now (not my ssia) and I dont know for how long. And it seems the demutualisation is always being put off for longer and longer and the interest rate  on the account actually doesnt look too shabby.


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## Daddy (6 May 2007)

Go for it if your sole reason is'nt the windfall.

My 2 year date falls next November and I feel my chances are less than 50/50 that'll I'll qualify.   Really do believe this will be done and dusted within 12 months.

I saw a good 15 month rate the other day on offer from AIB for amounts up to 50k.   Paying 6% I think per annum.


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## oldtimer (6 May 2007)

Are you sure about AIB paying 6% per annum? They have an 18 month term rate of 6.50% which works out at 4.26% AER. I doubt getting 6% per annum anywhere on lump sums at the moment.


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## dee06 (8 May 2007)

Daddy said:


> So, i presume all those holding Freedom Accounts which offer alower rate of interest - could now switch into this Flexisaver a/c and get the better rate of interest.
> 
> I.e those who invested 20k in the hope of a windfall.
> 
> Presume this switch would not effect the windfall as the flexisaver is considered a share account


 

I would think  you can switch from one share a/c to another without if affecting the 2 year requirement. They say you can anyway!!  Make sure you stress that to them though!


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## Daddy (9 May 2007)

Thanks Dee will check first.

The 6% AIB rate could be for 15 months on deposits up to 50k.

I hav'nt checked with AIB on it.


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## dee06 (14 May 2007)

Just looking at that AIB 18 month fixed term one that only works out at 4.26% annually. I think it's a bit misleading to put the 6% as the main figure.Mind you the nationwide do it with their 2 year bond at 9% also. Loads of people think they are going to get 9% for each year of the 2 years. 
If I'd a spare 20 K now I'd  do the flexisaver for 4.5% per year. Under 20K I think ACC are good too, can't find their rates on their website though


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## stopper (19 May 2007)

Is there a risk involved with the FlexiSaver account?  

Sorry if this is a stupid question but I'm fairly clueless when it comes to financial matters. 

thanks in advance.


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## rochs (19 May 2007)

Hi Stopper.

No risk with the Nationwide Flexisaver21saver


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## stopper (20 May 2007)

Cheers Rochs

Stopper


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## CCOVICH (20 May 2007)

There actually is a risk with this account (as with any other cash intruments)-the risk is that the rate of interest earned will be less than inflation and therefore the real value of you money will be eroded over the term.


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## dee06 (1 Jun 2007)

Giiod news, INBS have extended the availability of the flexisaver21 indefinetely now


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## ROR (9 Jun 2007)

I am interested in the INBS FlexiSaver 21 account.

However, I have a question -

The brochure [broken link removed] 
states the following (before the recent 0.25% ECB rate rise) :

*Balance                          Rate                 Current Rate
*€20,000.00 – €39,999.99    ECB + 0.75%    4.50%
€40,000.00 – €75,000.00    ECB + 1.00%      4.75% 

If I were to invest say €50,000 - will I get the higher interest rate on the full amount 
or
will it be the lower rate on €39,999.99 and the higher rate on the remainder.

The counter staff told me the higher rate applies to the full amount - but I'm still not sure.

BTW - Is this a good competative account?

Many thanks


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## oldtimer (9 Jun 2007)

Yes, you would get the higher interest rate on the full amount. It is a good competitive account but may not be there much longer. Original closing date was 31st May but they have extended it.


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## ROR (10 Jun 2007)

OldTimer - Many thanks

The counter staff in my local INBS Branch said it was now open "indefinitely".


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## dee06 (17 Jun 2007)

SPC100 said:


> Website now updated to say end of june.


 
 2 weeks ago it was 'indefinite', now it's 13 days from now. can't they make up their minds?


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## ClubMan (17 Jun 2007)

Never saw "indefinite" mentioned on their website or in any of their ads so maybe the counter staff who told people this simply got it wrong?


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## dee06 (19 Jun 2007)

"indefinite" was the advice given by head office to the agents and branches


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## dee06 (29 Jun 2007)

found out today the account is available now till 14 July (apparently a 'last minute' decision by INBS)


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