# 175k matures



## tech (31 Oct 2011)

Ok I have €175k maturing tomorrow from both EBS and PTSB

Im thinking of going with the interest 1st for 12 months with PTSB  @ 3.95% on €100kwith this option ill beat the dirt tax increase thats due in the budget so I'll get 3,950.00 gross interest 
Net €2883 

and I think ill pop the €75k into AIB 4.1% 12 month account

Gross €3075
Net €2247 based on 27% dirt which will change so maybe based on 30% dirt €2152 

Possible interest after 12 months on €175k €5035

Or am I missing other options ?

thanks


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## Lightning (31 Oct 2011)

Good decision to beat the DIRT increase by getting the pre-paid PTSB interest option. 

Have you read the best buys? 

Other options would include:
KBC @ 4.29% @ 1 year 2 months.
Ulster Bank @ 4.29% @ 1 year 6 months.
BoI @ 4.50% @ 2 years. 
PTSB @ 4.91% @ 2 years 2 months.


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## georged3rd (31 Oct 2011)

Thinking longer term....if you think it's likely that you'll be putting some or all of the 175k into another 1 year fixed term account after the PTSB & AIB 1 yr fixed accounts mature then you may want to consider going for the PTSB 26 month fixed term account at 4.91% AER now while the rate is still available. 

E.g. 175k at 4.91% = €6,272.52 (after DIRT at 27%) per year. 
Total after 2yrs & 2 months (26 months) = €13,590.46

As the interest is paid out straight away (rather than waiting 26 months) you could then reinvest the €13,590 in another high interest fixed or variable account. E.g. 13,590 in AIB 1yr fixed at 4.1% gets you another €406 in interest on top of that. 

Obviously you may not want to put more than €100k into any one institution for obvious reasons but the same principles still apply regardless of amount.


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## tech (31 Oct 2011)

would it be dangerous to put the full 175 into PTSB??


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## Lightning (31 Oct 2011)

tech said:


> would it be dangerous to put the full 175 into PTSB??



Are you taking about the 2 year 2 months term deposit at PTSB? If so, the question has been asked here before. It is very difficult to say what future, if any, PTSB has over a 2 year 2 month time horizon. Also, it is very difficult to say what will happen to the EUR, if anything, over 2 years 2 months. Personally, given the uncertainty, I would not lock my money into a PTSB EUR account for that length of time. Also, I would think that it would not be advisable to have all your eggs in this basket.


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## Lightning (31 Oct 2011)

georged3rd said:


> Obviously you may not want to put more than €100k into any one institution for obvious reasons but the same principles still apply regardless of amount.



What deposit protection reason is there to cap at 100,000 EUR? The Irish government guarantee for PTSB, AIB and BoI is unlimited, it is not limited to 100,000 EUR. The old cap, pre-bank guarantee, was 100,000 EUR.


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## tech (31 Oct 2011)

Hi George thansk for that option, I hadnt tought of going for the 26 months, I can affordd to lock up the 175k for this peroid of 26 months, but I thkink 100k might be enough and grab the interest of €7300 after DIRT and re invest this again 

The DIRT tax is defo going to go up in the budjet so might as well beat that!! 

Where to put the €75k now tough or maybe €82300 !!


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## georged3rd (31 Oct 2011)

CiaranT said:


> What deposit protection reason is there to cap at 100,000 EUR? The Irish government guarantee for PTSB, AIB and BoI is unlimited, it is not limited to 100,000 EUR. The old cap, pre-bank guarantee, was 100,000 EUR.



None, it was an oversight on my part. Apologies OP.


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## tech (31 Oct 2011)

Well tomorrows plans is try to drive another hard bargin with PTSB  on the interest 1st account rate would like 4.20%, i'll keep ye posted !


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## georged3rd (4 Nov 2011)

tech said:


> Well tomorrows plans is try to drive another hard bargin with PTSB  on the interest 1st account rate would like 4.20%, i'll keep ye posted !


How did that go for you?


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## tech (4 Nov 2011)

no movement on the interest 1st accounts, 4.0 % on any other account i wat 2 months / 12 month  

reckon ill go with 26 months for 10 %


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## Runner1 (5 Nov 2011)

Probably too late, but institutions will tend do negotiate to get those types of funds, i had approx 65k and EBS were willing to up their offer to 4.1% for a 12 month term, matching the leading market rate at the time, though i have been with them for a number of years, let us know what decision you ended up with.


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## Mavis (5 Nov 2011)

I was withdrawing funds from PTSB yesterday (100K). the manager asked to speak with me and after a couple of phone calls would be willing to offer me 4.35% for 12 months.

I asked for a minimum of 4.5% but they would not budge in light of the ECB rate drop.


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## mcriot29 (7 Nov 2011)

4.35 was a lot for them to come up too wonder would ptsb come up much on there 4.6 rate for the 5 year fixed


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## Lightning (7 Nov 2011)

I wonder is 4.35% calculated as (market leading rate + 0.25%). Maybe PTSB are willing to go 25 bps above market leading rates.


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## Mavis (7 Nov 2011)

the basis of the offer was that i was going to lodge the funds with KBC at 4.25% AER over 14 months (5%). There was no real discussion and when I said I would get back to them he was quiet shocked. On departure he made a point of stressing this offer would not be beaten by other institutions.


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## tech (9 Nov 2011)

Ok heres the update 100k  for 26 months 10%, Cheque fo €7300 in a few weeks to re invest!


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## gaius (21 Nov 2013)

Mavis said:


> I was withdrawing funds from PTSB yesterday (100K). the manager asked to speak with me and after a couple of phone calls would be willing to offer me 4.35% for 12 months.
> 
> I asked for a minimum of 4.5% but they would not budge in light of the ECB rate drop.


 Hi Mavis
My recommendation would be to pay off your debts first.


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