New Rabo savings rate of 4.75%

I still think I was probably correct in my earlier post, but have to agree it's not at all clear.

Balances from €10,000 up to €1 million will get a variable rate of 3.70%** on their savings
Click to expand...

A rigid interpretation of that says a balance of 10,001 will earn 3.7%. But I'm sure they can't have meant that.
 
Clarification as requested:
Existing and new customers will earn a variable rate of 4.75% on demand on the first €10,000, ie, €475 before DIRT.
Thereafter, balances from €10,001 up to €1 million will earn a variable 3.70% on demand. Balances in excess of €1 million attract a variable rate of 2.70% on demand.

This is a tiered rate structure.
For example: a customer has a balance of €15,000:
The first €10,000 earns 4.75%
The remaining €5,000 earns 3.70%.

This tiered rate structure will be in place from Jan 1 - Dec 31 2007. The rates are variable. We don't flag in advance what we will do with our rates due to commercial sensitivities. However, RaboDirect has been a very strong competitor since it launched in Ireland and will continue to be so.

I trust this clarifies the matter.

Regards,
RaboDirect
 
RaboDirect, someone in your marketing dept. should really get around to updating the (presumably expensive?) banner ad at the top right of the Irish Independent ... which still boasts a juicy !
 

so the more i save, the less i get ....
 
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