EBS 3.75% fixed for 5 months

B

Bobby1

Registered User
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Saw there an ad this morning for EBS offering a 5 month fixed term at 3.75%.
 
They could possibly be anticipating that the ECB will raise during this time so if anyone signs up, when they come off it variable and fixed rates will be up.
 
Thanks, best buys updated


If you want a short fixed term deposit, you are most likely better off choosing the EBS 5 month rate @3.79% than the Investec 6 month rate @3.25%.

With that in mind ...

Best Buys - Highest Term Deposit Rates

5 Months - EBS - 3.79%
1 Year - Anglo Irish Bank - 3.80%
2 Years - Bank of Ireland - 3.44%
3 Years - An Post - 4.30%
5.5 Years - An Post - 4.70%
Click to expand...
 
Just for clarification here, the EBS 5 month rate is of 3.75% is an annualised rate i.e. you are not getting 3.75% for giving them your money for 5 months, you are gettin 5/12 of that rate.
 
Im confused Munster, for a period of 5 months are you not earning a gross rate of 3.75% for your deposit? and in terms of equating that over a year the rate would be 3.79% (as per best buys table)?
 
It's obviously 3.75% per annum.

Interest rates are always per annum (well they should always be).


Some people get confused and think that they will earn 3.75% over 5 months. That is not the case.
 
All rates listed in the best buys tables are the annual rates.

3.79% is the AER rate as per [broken link removed]

It makes it much easier to compare rates when the AER rates are used for all term deposits regardless of the length.
 
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