Anyone on a variable deposit product with PTSB should switch.
Jaysus those are some serious cuts:
[broken link removed]
0.85%* on €0.01 to €50,000
Utterly pointless!!
NationwideUK and Rabodirect rates look good on the Bestbuys. However judging by previous form I'd expect that they'll be cutting soon.
Jaysus those are some serious cuts:
[broken link removed]
0.85%* on €0.01 to €50,000
Utterly pointless!!
possibly rising inflation
I'm just surprised that the State Savings rates haven't been cut for a while
Yeah, probably Nationwide UK (Ireland), RaboDirect, KBC and Leeds Building Society Ireland will follow suit.
That said, these banks will probably still all offer a better return than PTSB for many of their products even if they get again. For example, Nationwide UK (Ireland) currently pay 4.00% AER variable with their regular saver product, PTSB pay 1.75% AER variable. Even if Nationwide UK (Ireland) cut their rate, it is unlikely to be cut to the PTSB level.
Nationwide may still have some value in the Regular saver
but their other rates have been cut hugely
and are no longer much different than anyone else. Changed times indeed.
May? Nationwide UK (Ireland) certainly do still offer a good return in the regular saver product category. 4.00% AER variable is an amazing return in a time of zero inflation and negative bond yields.
The rates carnage at PTSB continues today!
I always said to myself that if I couldn't earn 2% on my money sitting on deposit, I'd do something else with it. Don't know what that 'something else' is right now but PTSB obviously don't want it anyway, even in the form of regular savings!
The PTSB rate cuts have been savage. The biggest cuts have been focused on their instant access products, notice account products and regular saver products. Hopefully, a lot of people with those products move their money elsewhere.
PTSB still, for now, have the most competitive current account product. PTSB are still not too far off the market leader with their 1-3 year term deposit rates.
The Key Point to understand here is that current accounts are expensive to provide and maintain. They can only provide them free of charge if some other customers are subsidising them. There is a review on in the UK at the moment, which will probably ban free current accounts as not in the interests of customers.
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