SSIA Variable Rate Account

comet

I opened an SSIA with ACC bank as everyone was saying they were offering the best deal at the time. However what I didn't realise was that the good deal was for the fixed rate and not the variable. I didn't know the difference and should have opened the fixed rate account....foolish on my part I should have read more into it. I think i'm now getting 2% interest or possibly less and would like to transfer my SSIA to an institution offering a higher rate of interest on a variable SSIA account. Is there a page listing these rates or can someone recommend one. I have been told First Active is offering a better rate. Your advise please.

Victor

Check Friday's Irish Time business section or the Sunday Business Post.

spongebob

Originally posted by comet
I opened an SSIA with ACC bank as everyone was saying they were offering the best deal at the time. However what I didn't realise was that the good deal was for the fixed rate and not the variable.

Your advise please.

ACC has the best Variable rate at Base or Base +1 (3%) .

Fixes were on offer at 4 or 5% if you maxed it from day one, this did not suit many people.

My advice is find someone who is not maxing theirs and 'help' them to do so .......payback is 3 years away now.

You will not get a better deal if you change, andif you do I will donate €10 to your Paypal if you tell me how you managed to do so

M

comet

I found this chart since posting

Variable SSIA RATES
Institution CAR Price Promise
Anglo Irish Bank 2.50% ECB - 0.25%
Northern Rock 2.25% match ECB
EBS Building Society 2.10% ECB - 0.5%
ACC Bank 2.00% match ECB
First Active 2.00% match ECB


So Anglo Irish Bank are offering .5% percent more than ACC on the variable SSIA. Interestingly they didn't promise even to match the ECB originally unlike ACC.

eth0_

Is it definitely possible to switch your SSIA to another bank?

comet

Transfer details for SSIA http://www.revenue.ie/pdf/upssia15.pdf