AIB 3.02% 2 Year Deposit

presidenttttt said:

I am not sure 3% gross is anything to write home about? Is there not a thread here with higher rates from non Irish banks? Personally not convinced inflation and higher rates are over yet either

Click to expand...

Deposit rates in general have been falling lately in line with ECB rate cuts. But thanks to the great work by @Lightning in particular you can read all about them here:
The AIB 3.02% rate is the best 2 year fixed term rate on offer at the moment.

presidenttttt said:

I am not sure 3% gross is anything to write home about? Is there not a thread here with higher rates from non Irish banks? Personally not convinced inflation and higher rates are over yet either

Click to expand...

As @ClubMan pointed out it’s the best available 2 year rate at present and among the best rates generally. To each their own but unlike many of the other better rates DIRT is deducted at source, there is no withholding tax and you aren’t dealing with a bank registered in Malta or outside the eurozone, all of which bring their own issues.

We opened one of these AIB accounts in Dec.
We were not AIB customers. The usual ID and proof of address was necessary. First step was to get set up on their system and open a "current account" . This account is what you load with your preferred amount of deposit money. Subject to your current banking provider daily limits, this may be done over a few transactions. This account has no other function and no charges. (It's also where your money will get popped back to when the fixed term is ended). Your deposit then gets
moved from this current account to your fixed term deposit account in one go.
Set-up is most likely different for existing AIB customers.
There were some odd questions during the process about income and means. I took this to be marketing profiling but was told that it's because your money is inaccessible for the term, that they need to believe that you can survive without it. That made my B.S. detector bleep... Anyway , we went ahead.

EDIT. "Current Account" is the wrong name for this account. It is ,in fact , a "Personal Demand Account " . Apologies, if I've confused matters.