Lump sum deposit for business

[David_Dublin]

Sorry if this has already been posted.

My company has some cash excess at the moment (circa 50k).

I had a search on here and the web, cant find a list of what the various institutions offer for business savings/lump sum deposit accounts.

What we're looking for is something that is readily accessible, but earns more than would in a current account, which is where the money is at the moment. We are unlikely to be adding to it, but most likely will need to withdraw from time to time.

Any suggestions much appreciated.

Thanks

 

[callybags]

We have cash on deposit with NIB.
They pay 2.5% gross.
Withdrawals can be made on demand. However, you lose most of the interest in the month of the withdrawal.

 

[Lightning]

The problem is that many banks don't openly publish rates for business customers.

The [broken link removed] is one of the best business rates but remember the rate drops to 0.50% in the month of any withdrawal. AIB offer 2.50% for business deposits under 100,000 EUR but with 30 days notice.

I suggest you ring , Investec, [broken link removed] and others and see if they can offer a better product for you.

Let us know what you choose.

 

[David_Dublin]

Thanks guys. I'll make those phone calls and post the results when I have them.

 

[David_Dublin]

Looks to me like the most flexible on the market is the NIb @ 2.5%. BOI have a couple of decent options on the term deposit, fixed 3% for 9 months, or a 40 day notice at 2.5% var. AIB weren't at the races at alll, Investec best rate was on their 9 month = 2.5%. PTSB have a 3 month fixed at 2.75, 2 month @ 2.5%.

 

[Lightning]

Interesting, thanks for reporting back on the business rates that you got offered.

 

[LDFerguson]

Permanent TSB have the following rates available on their Signature (broker, not branch) deposits. Sorry about the formatting - this was a box when I cut and pasted. Orange text is for businesses, with the AER the second figure.

Cheers,

Liam


Product

Personal Rates*​

Non Personal Rates**​

Gross Rate​

AER​

Gross Rate​

AER
Signature On Call

1.50%​

1.50%​

1.25%​

1.25%​

30 Day Notice Variable

3.00%​

3.00%​

2.50%​

2.50%​

2 Month Fixed Rate

N/A​

N/A​

2.50%​

2.52%​

3 Month Fixed Rate

2.50%​

2.52%​

2.75%​

2.78%​

6 Month Fixed Rate

1.50%​

1.51%​

2.50%​

2.52%​

7 Month Fixed Rate

3.20%​

3.22%​

2.50%​

2.51%​

9 Month Fixed Rate

2.50%​

2.50%​

2.50%​

2.50%​

11 Month Fixed Rate

2.50%​

2.50%​

2.50%​

2.50%​

1 Year Fixed Rate

2.90%​

2.90%​

2.50%​

2.50%​

18 Month Fixed Rate

4.50%​

2.98%​

N/A​

N/A​

3 Year Fixed Rate

9.00%​

2.91%​

N/A​

N/A​

 

[Lightning]

The PTSB Signature business rates are also here at the bottom right of the page. They may be a bit more readable