18 months up on Bnk of Ireland reg savings, what to do next?

Sunster

Registered User
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Probably like many of you here my Bank of Ireland regular savings (6%) account has reached its 18th month. This changes down to 3.75% from next month. Not the best rate out there. I bank with BOI and find it nice to have everything available on the 365online site for me to view.

Just wondering what would be the best thing to do regards the savings?
Continue and leave the direct debit going?
Continue it at a much reduced regular amount?
Stop it altogether and withdraw and seek and put into another regular savings account? eg Rabodiect savings?
 
I'm in the same boat. I plan to cancel the DD and transfer the lump sum to Northern Rock (at 5%) and then drip feed it into an Anglo Regular saver at 8%. No way I'm staying with BOI at their paltry interest rate of 3.75%. Out of interest, did you receive any notification from BOI advising about the impending rate change? Mine is due to change this month and I've heard nothing yet.
 
My 18th DD isn't until October but I got a letter this week saying the rate would change for me in July.... gonna chase it up. But I agree re withdrawing and putting into NR.
 
Anybody wondering where to put money on deposit at the best rate should check out the Financial Best Buys forum lists and www.itsyourmoney.ie deposit account surveys. They certainly should not restrict themselves to their regular bank.
 
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