PTSB - Old Northern Rock Demand Online Interest Rate change

[podgerodge]

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.

 

[pudds]

Annual rate is 1.5% also

 

[Lightning]

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

 

[podgerodge]

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

 

[pudds]

I only have 37 yo yo's in mine