AIB stuck to the date it guaranteed to pay 7.1% – and dropped the rate on it’s regular saver account to 4%.
AIB said that around 300,000 people had opened regular saver accounts to benefit from the high interest rate. It seems surprising that so many people were attracted by this account – which openly stated that the 7.1% was only guaranteed till Dec 31 2007. See our up to date information on the Best Rates for Regular Savers – for alternatives to AIB.
Head of funding at AIB Hugh O’Keeffe said there would be no penalties imposed on people who withdraw their money now that the rate had been reduced.