Money Guide Ireland

Feb 2008
In Ireland it hasn’t been that long since all the main Banks charged us for the privelige of looking after out hard earned money. Some of them still do! Last year a trend was started by Halifax of paying fairly good interest rates on current accounts.
Halifax are still the highest interest on current accounts – they are paying 10% on balances up to €2,000. This could be worth worth up to €160 a year after DIRT is deducted if someone kept at least 2000 in the account. You must use the account to pay in your salary or other regular monthly deposit. You can’t just deposit 2000 euro and leave it there!
AIB have intriduced a temporary rate of 12% on their current account – to try and get some press attention and customers. AIB have many more branches than Halifax – and so will probably be more attractive to many potential customers for that reason.
The 12% rate is just for 3 months (from March 2 to June 2) It is only on the first 1500 euro – so is only worth a maximum of 36 euro after DIRT over those 3 months. The normal rate kicks in from June – 4% on the first 1500.
You must deposit a min of 1500 euro a month.
The 4% rate on current accounts is matched by BOI and PTSB’s current account interest rates.
Four percent on 1500 euro would earn you a maximum of 48 euro a year after tax. Better than nothing .
Ulster Bank don’t pay interest on their current account but they will credit €150 to you if you switch your current account before the end of March. This is more than 3 years interest on the other accounts mentioned above.

National Irish Bank’s Easy Plus account pays 1.75pc.

A few weeks after the expiry of their 7% regular saver – AIB have launched another regular savings account. The interest rate is a variable rate of 7.30% A.E.R on monthly savings.

The rate will be available to all new accounts opened between the 19th February 2008 and the 19th February 2009. From the 20th February 2009, the interest rate will at least match ECB up to 1st January 2010.

You can lodge between €10 and €300 every month. You can have instant access to funds at any time without penalty through any AIB branch or AIB Phone & Internet Banking.
No fees or charges apply

ANGLO Irish Bank is raising the interest rates it is paying on its demand and notice accounts.

The bank will be increasing rates from Feb 29th 2008.
The rate on the ‘Easy Access’ demand deposit rate rises from 4pc to 4.5pc, and the 30-day notice account rate from 4.5pc to 4.75pc. Access by post or online or in person.
Anglo Irish Bank is still\paying 5pc fixed on amounts deposited for a year.

See full list of Best Deposit Interest Rates in Ireland

Anglo Irish Locations in Ireland
IRELAND

Dublin
Head Office
Stephen Court,
18/21 St. Stephens Green,
Dublin 2.

Tel: 1850 44 22 22
Tel: + 353 1 616 2494
Fax: +353 1 6162483
Email: savings@angloirishbank.ie

Cork Area Office
Anglo Irish Bank House,
11 Anglesea Street,
Cork.
Tel + 353 21 4537300
Fax + 353 21 4537399

Galway Area Office
Anglo Irish Bank House,
Forster Street,
Galway.
Tel: + 353 91 536900
Fax: + 353 91 536931/2

Limerick Area Office
Anglo Irish Bank House,
98 Henry Street,
Limerick.
Tel: + 353 61 461 800
Fax: + 353 61461 898/461899

Waterford Area Office
Anglo Irish Bank House
Maritana Gate
Canada Street
Waterford
Tel: + 353 51 849 300
Fax: + 353 51 849 398/849399

Sligo Area Office
Connacht House
Markievicz Road
Sligo
Tel: + 353 71 911 9400
Fax: + 353 71 911 9499

Northern Rock Ireland have increased the rate on thier online deposit account from 4.5% to 5%. This is the highest rate for balances over 15k. You can start an account with 1k and there is no maximum balance.

If you set up a new credit card account with Halifax Ireland – they will give you €100 credit on the card as soon as you use it. This special offer can be taken instead of the 6 months interest free offer. If you do switch credit cards – remember to avoid paying the €40 stamp duty twice to the government by getting confirmation from your old credit card company that you have paid it.
Offer ends on March 31st 2008