AIB Regular Saving 7.3% ?

Re: AIB 7.3% regular saver for new accounts

ClubMan said:

It's not that surprising that the 7% regular saver rates may be only limited offers. Once the terms & conditions are not too restrictive you just chase the next best rate when necessary.

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I wouldn't mind so much if you could open and close these accounts online like you can with some of AIB's other accounts. But given that you need to call into a branch every time you open or close one of these accounts, the relatively small amount of extra interest you earn compared to the 5+% lump sum accounts around isn't worth it IMO. Remember your time is money also.

Re: AIB 7.3% regular saver for new accounts

Not every such account on offer requires you to attend a branch.

Re: AIB 7.3% regular saver for new accounts

Just opened one today. But since you have to pick a date between the 1st and the 25th and also give 5 working days notice, my first payment will have to wait till March

Once again, thanks to this site. First letting me know about the online week notice demand account and now this

I opened an AIB Regular Saving Account, last week, which gives 7.3%
When I look at my account on the WebSite it states it gives 7.175%
Has anybody, who opened one of these accounts, seen their Statement?

Interest is paid in April and October so it compounds to 7.3%

7.175% / 2 = 3.5875% every 6 months

Opening balance €1
after 6 months €1.035875
after 12 months €1.07303702
giving total annual interest of 7.303702c, which is 7.30% of €1.

Of course in reality 20% DIRT is deducted from each interest payment, but they don't have to include this in their headline rate.