Incorrect savings advice from Newspapers

oldtimer

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849
Has anybody noticed wrong advice re best savings rates in Newspapers? Last week the Irish Independent, in response to a readers request for advice on where to save 20K, stated First Active @ 4.3% (they failed to mention it was 5.22% up to €15,000 etc). In yesterdays Sunday Independent AIB is mentioned as the best Regular Saver Account at '10 per cent.' It certainly is not 10% and even at 7.30% isn't the best (Irish Nationwide = 7.35%) Their ''experts'' obviously do little research.
 

ClubMan

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43,897
Nothing new in newspapers publishing incorrect or incomplete details about such matters. Never depend on newspaper tables/articles alone for financial advice.
 

oldtimer

Frequent Poster
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849
Mainstream AIB website not updated yet on this product. It differs from other Regular Saver Accounts but it will be eye catching. Can just imagine the huge posters displayed in AIB branches with the headline '' 10%''. So if I open multiple accounts of €200 per month for my children, grandchildren and godchildren I will get 10% and can withdraw the money at any time and ignore the lump sum account? I look forward to reading the terms and conditions.
 

MugsGame

Frequent Poser
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2,512
Ì heard about this account last week but don't intend adding it to the Best Buys. It's a product specifically designed to grab headlines, but actually offers poor value overall.
 
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