Because they don't want deposits.So why are banks dropping their savings interest rates ?
I was just on the point of switching from a boi savings goal saver account, which had been reduced to 0.5 %, to the ebs family savings of 1% ish, which was recently listed on the best deals page here, only to find that its rate has now dropped to 0.25.
Now I am thinking Ulster bank or ptsb but will they drop rates too now like the others ? You can't win it seems ! Does anyone know if USB and ptsb will follow suit and drop rates or if one is more likely than the other to remain unchanged?
I think that largely depends on the amount of money involved. I recently moved 50k from 0.1% interest to 0.98% AER state savings. Took 5 minutes to fill in a form online, and then 15 minutes in post office getting documents copied as it was my first time opening an account. So 20 minutes of my time for 490 a year tax free. I've been paid less for my time before...IMO it's not worth switching savings account anymore for interest rates. The difference between them are so minimal it's not worth the hassle,
I'm not sure if you mean regular to mean monthly or common?OK, yes fair point, but for more regular amounts...
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