AIB Online Notice Deposit 7 Account query

chasm

Hi Guys,

I have an AIB Online Notice Deposit 7 Account, and i am a confused about their interest rates, which are:
EUR0 - -EUR10,000 3%
EUR10,001 -EUR100,000 1.50%


If i have €10,000 lodged into this a/c and they pay me interest on it, will i only receive interest at a rate of 1.50% after this?
I've looked on their site but i can not find anything, but if this is the case wouldn't i be better off keeping the balance under say €9000?

Wats_in_a_name

Presume its 3% on the first €10,000 and 1.5% on the balancing. So if you have €12,000 on it you would get 3% on €10k & 1.5% on the €2k might be wrong though.

chasm

Wats_in_a_name wrote: »

Presume its 3% on the first €10,000 and 1.5% on the balancing. So if you have €12,000 on it you would get 3% on €10k & 1.5% on the €2k might be wrong though.

That's what i was thinking too, but didn't want to assume wrongly, just rang aib and they say that that is the case.

Would it make better sense to just reduce the balance to €9,000 and then any interest accrued would still keep it within the 3% rate and lodge the other €1000 into another a/c,(i'm intending to open one with Natiowideuk Ire or UB) or is it better to leave it where it is?

Lainey_b01

If your principle (amount initially deposited) was 10,001 or more you would only get the rate of 1.5% on excess

So 3% on first 10k and 1.5% on remaining amount.

If you have more than 10k to invest I would consider looking to another financial institution. Irish Nationwide has an instant access account offering 3.25% for amounts up to 20k

JTMan

Why not go with Nationwide UK and get paid 3.15% on the full balance?

Full break down of best buy rates here: http://www.askaboutmoney.com/showthread.php?t=90481