Ulster Bank Reward Reserve Account

[60watt]

Hi,

This is probably a silly question, but I'm no good at this AER / APR stuff.
Ulster Bank Reward Reserve Account offers a rate of 4.00% AER paid quarterly plus a quarterly bonus of .25% plus an annual bonus of .25%.
So does this mean that the AER is effectively 4.50% for somebody who satisfies the 10K minimum balance and the withdrawal criteria ?

 

[Godfather]

Hi, 4% including bonuses as per UB's website: "A competitive rate of 4.00% AER (3.93% gross variable) including bonuses"

Link:
[broken link removed]

 

[camlin90]

This rate was 4.6% until this week so must have been cut - account holders take note - there are much better deals out there.

 

[Godfather]

Good point John J,

I'm now applying for the esavings with UB so I'll switch away from reward reserve... At least it gives 4.4%...

 

[iggy]

Thanks for that guys... I`m moving most of my deposit to Northern Rock in the morning.