EBS 18 month fixed term

[Aureus]

This EBS account, paying 4.29% (AER), permits you to withdraw up to 50% of your funds early without penalty.

I think that makes it a kind of hybrid account. You have a good fixed rate, but you also get some of the benefits of an instant access account: limited protection against interest rate rises, or if you need cash in an emergency.

I can only imagine EBS are hoping that most customers won't be savvy enough to move half their savings elsewhere if there are big rate hikes during the next 18 months. Maybe this particular feature should be mentioned in the Best Buys?

(NB: I have no connection to EBS)
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[Aureus]

Their 15 month account has the same feature but the rate's not very attractive. With both products there's a restriction that only one withdrawal transaction is allowed during the term.

 

[Lightning]

Thanks for the feedback on the best buys. I have mulled adding withdrawal penalties & conditions, where known, to each of the term deposit products. This would add information for consumers but it also adds complexity to the best buy thread. Hmmmm

 

[Aureus]

I see your dilemma. Maybe a solution would be to only mention the withdrawal conditions if there is something particularly unusual about them? Of course that assumes that most of the products have similar conditions. And I don't want to create extra work for you!