PTSB - Old Northern Rock Demand Online Interest Rate change

For anyone still on the old Northern Rock Demand Online account with PTSB note that they have dropped the rate now to 1.5% (at least on the interest monthly version - the annual interest rate may now be 1.75%).

This compares poorly with their own Online Instant Access at 2.25% which is effectively the same product.

Note that the Online Instant Access is a single holder only account though - unlike the demand online - you can't have a joint account of this type so if as a couple you have more than 50k you would have to open 1 account each using your own individual Open24 numbers to avoid the interest cut to 1% over 50k.

Annual rate is 1.5% also

I wonder why anyone keep this legacy account open when there are much better rates out there.

well, it was 2.5% up until very recently so was not bad for a demand account.

I only have 37 yo yo's in mine