Fixed term deposit rates dropping drastically

[bacon]

Called up BOI today, 12 month deposit at 5% no longer exists. They're now offering only two products:
- 18 mths at 5% (AER 2.9%) and
- I think 3 mths at 3.5% (I couldn't understand what the banker was saying as the line was bad so pls clarify with them)

Same scenario at PTSB, today is the last day for 12 mths at 4.55% (up to €50k) / 5.3% (more than €50k). Better rush over if you want to secure it!

They are reducing the rates to 3.65% (up to €50k) / 4.4% (more than €50k). Banker said the rates will drop again in Jan.

 

[Don_08]

Not really a surprise given the falling ECB rates I would have thought. We can;t have it both ways!

 

[Lightning]

Same scenario at PTSB, today is the last day for 12 mths at 4.55% (up to €50k) / 5.3% (more than €50k). Better rush over if you want to secure it!

You can lock at a better rate than that. Both Anglo offer 6% and Investec offer 6% for 12 months fixed.

 

[ardmacha]

Both Anglo offer 6% and Investec offer 6% for 12 months fixed.

Lock in soon, with the Fed reducing interest rates to virtually zero the rates are only likely to go in one direction.

 

[Lightning]

Lock in soon, with the Fed reducing interest rates to virtually zero the rates are only likely to go in one direction.

Let's hope so (from a mortgage perspective) , The ECB are a strange bunch that make take 6-8 months before they hit zero with the Euro rate.

 

[raven]

Halifax still seem to be doing 5.6%. At least they have it plastered all over their home page.

Only things is its limited to 100K government guarantee.

 

[oldtimer]

Northern Rock have withdrawn their 5% 1 year fixed rate bond. Their on line demand account is still paying 5%.