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Negotiate savings rate?

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  • 03-01-2012 5:12pm
    #1
    justforgroups
    Registered Users Posts: 153 ✭✭


    Hi,
    My fixed term a/c is about to mature and I got a call from the bank to "discuss options". Has anyone tried (or is it possible) to negotiate on rates? Say a 1-year fixed term is 4% - could you try to get 4.1% for example if you agree to leave your money with them?

    Thanks!


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    #2
    checkcheek
    Registered Users Posts: 207 ✭✭checkcheek


    its worth tryin, the banks want as much money as they can get, so depends how much they need yours, but i depends on how big a sum u have aswel id say, but tis worth tryin


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    #3
    homer911
    Registered Users Posts: 5,113 ✭✭✭homer911


    I remember doing this back in the early 90's when interest rates went through the roof for a while - it probably will depend on how much you are talking about.

    The rules have changed quite a bit since the 90's - with current AML legislation banks know that deposits are fairly sticky - so tell them you have an account already in bank x where you can get a rate of y - thats the only way it would work..


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