Any effect on PTSB Deposits given recent news?

C

cdee

Registered User
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Hi there, I'm thinking of saving in the PTSB Interest First account for 1 year as recommended on Best Buys. Do you think the news in recent days of redundancies, need for variable increase on mortgages has any bearing on deciding to invest?
 
The redundancies, mortgage rate increases, previous branch closures, the ending of fixed rate mortgages & new deposit products are all attempts by IL&P to bring PTSB back to a viable state. Attempts being the key word.

The flip side is there is a deposit war in progress at the moment, partially due to the deposit flight, and PTSB are having to pay higher deposit rates as a consequence. Good for savers who are happy to keep their deposits in PTSB.

It will not be easy for IL&P to bring the loans:deposits ratio down from 260% to 100%.
 
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