Permanent TSB: Online Demand Account 2.00%* on €0.01 to €50,000
1.00%** on €50,000.01+ *Rate applies from 18 February 2014.
Access: Instant access.
Interest paid: Annually on first working day after 20th November.
**Once the balance in your account goes over €50,000 the interest rate on the whole balance moves to 1.00% AER variable.
Online only account access.
Deposit Protection: €100,000 via Irish Deposit Guarantee Scheme
The account that dropped its interest rate from 2.25% to 2.00% yesterday, is the PTSB 'Instant Access Account'.
If you are receiving 1.25% interest then you are probably on either:
Instant Access Deposit Account (Old INBS accounts )
Demand Online Account (Old Northern Rock accounts)
Booster Bonus Account (PTSB)
The account that dropped its interest rate from 2.25% to 2.00% yesterday, is the PTSB 'Instant Access Account'.
If you are receiving 1.25% interest then you are probably on either:
Instant Access Deposit Account (Old INBS accounts ) Demand Online Account (Old Northern Rock accounts)
Booster Bonus Account (PTSB)
They won't convert it, it saves them money on interest. Just open the demand account and transfer. Once opened you can transfer the money straight away and it'll appear instantly in the new account on your online banking.