PTSB is so useless that they can't even get the simple things right. They announce a new savings account, garner plenty of media interest and then don't have their website updated with details of the new product!! No joined up thinking!
I worked out what the real interest rate is if the upfront interest received after 30 days is redeposited:
Calculation:
Say €5000 @ 2.75% = €208 after DIRT removed.
Interest transferred into Trading212 @4.2% for 11 months = €8 before DIRT
Total yield over 12 months on €5,000 is 2.91%
(PS please verify)
I worked out what the real interest rate is if the upfront interest received after 30 days is redeposited:
Calculation:
Say €5000 @ 2.75% = €208 after DIRT removed.
Interest transferred into Trading212 @4.2% for 11 months = €8 before DIRT
Total yield over 12 months on €5,000 is 2.91%
(PS please verify)
Don't put all eggs etc...I trust Irish banks more.The interest is only 137.50 before DIRT on the PTBS account. Regardless, you would still be better off just putting it all in Trading212 or TradeRepublic etc. instead.
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