AIB 3.02% 2 Year Deposit

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Lightning

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AIB's 2 year term deposit pays 3.02% AER fixed.

Term deposit rates have collapsed across Europe in recent months.

But AIB have not cut their term deposit rates nor culled products yet.

I could be totally wrong - and probably pointing out the obvious to most people - but it's very difficult to see this product/rate lasting much longer.

If anyone is considering a term deposit, and if one wants to choose an Irish bank (Raisin do have a slightly higher paying offer), now might be the time to consider this product. Perhaps.
 
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Not the best 2 year rate on offer but I guess that some people might be more comfortable dealing with AIB than with Raisin/Haitong...

Best Buy - Term Deposits (Fixed Lump Sum Savings)

Rates are frequently updated. Information last changed: 27 November 2024. Highest Term Deposit Rates 3 Months - Easisave - 3.60% 6 Months - Easisave - 3.30% 1 Year - BFjord via Raisin.ie - 3.10% 2 Years - Haitong via Raisin.ie - 3.14% 3 Years - Haitong via Raisin.ie - 3.10% 4 Years -...
www.askaboutmoney.com
 
Apologies for a few Q's. I'm interested in opening this account and plan to visit a branch tomorrow. However, if not already an AIB customer, will I need to set up a current account with them and will this involve quarterly management fees? Not sure why Irish banks make it so difficult to lodge lump sums for a few years but I assume this will also reduce the rate again + DIRT tax. TIA.
 
Lightning said:
AIB's 2 year term deposit pays 3.02% AER fixed.

Term deposit rates have collapsed across Europe in recent months.

But AIB have not cut their term deposit rates nor culled products yet.

I could be totally wrong - and probably pointing out the obvious to most people - but it's very difficult to see this product lasting much longer.

If anyone is considering a term deposit, and wants to choose an Irish bank, now might be the time to consider this product. Perhaps.
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Good spot lightning. Given a lot of people have been caught for PRSI on top of DIRT on overseas deposits it's a convenient and efficient option to have.
 
Harvard said:
Good spot lightning. Given a lot of people have been caught for PRSI on top of DIRT on overseas deposits it's a convenient and efficient option to have.
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I've been assuming if you fill the Form 11 and you've Irish deposit interest, you declare it somewhere and they add on PRSI. Is that not the case?
 
@Lightning

A very timely reminder. BOI withdrew their two year term deposit recently, the longest they currently offer is 18 months. As @podgerodge says the rate is competitive, and the BOI product allows up to 25% to be withdrawn during the fixed term without penalty if that's of interest.

There were significant rate cuts in the PTSB 3 and 5 year term products some time back, (e.g. 3 year dropped from just over 3% to 2.1%).

We aren't far from the point where some of the miserable rates that State Savings have been offering over recent years will start looking attractive again, when DIRT is taken into account.
 
The AIB 2 year offer is competitive. The BoI 1 year 6 months offer is almost as competitive. But arguably the AIB offer is better give the longer duration that you're fixed.

NTMA State Savings still offer awful instant access rates and low term deposit rates but this, relatively speaking, are improving because the NTMA are not cutting yet. But forr a 5 year term, for example, Aareal Bank, via Raisin.ie, with no local withholding tax, is a better offer, even considering the tax.
 
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