Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie
Hi there,
There is an issue with role permissions that is being worked on at the moment.
If you are having trouble with access or permissions on regional forums please post here to get access: https://www.boards.ie/discussion/2058365403/you-do-not-have-permission-for-that#latest

Aviva fixed term deposit

  • 10-11-2023 6:35am
    #1
    isobels
    Registered Users, Registered Users 2 Posts: 2 ✭


    Anyone know anything about this fixed term deposit ?, mentions counterparts risk with Societe Generale. I’m not allowed to post the link to the page, thanks in advance

    181672C7-94E1-4689-A962-EE34071B75F0.jpeg
    87EB4F19-A74D-4F99-883A-0A647CE964F1.jpeg




Comments

  • #2
    Nody
    Moderators, Category Moderators, Arts Moderators, Business & Finance Moderators, Entertainment Moderators, Society & Culture Moderators Posts: 18,375 CMod ✭✭✭✭Nody


    My only question would really be why you'd bother when you can get higher interest rates for shorter lock in while under the EU bank guarantee.



  • #3
    isobels
    Registered Users, Registered Users 2 Posts: 2 ✭isobels


    Thanks Nody for your reply. I met with a financial advisor last week and said I was looking to deposit some funds in a fixed term deposit account. I was looking at the PTSB 3 year account. The advisor mentioned the Aviva account. Looking at younited rates through Raisin I saw some comments about problems with customer service. Any insight to Younited ?, thanks



  • #4
    Nody
    Moderators, Category Moderators, Arts Moderators, Business & Finance Moderators, Entertainment Moderators, Society & Culture Moderators Posts: 18,375 CMod ✭✭✭✭Nody


    https://www.boards.ie/discussion/comment/121349680#Comment_121349680

    Sorry can't help you there I'm afraid. Personally however I'd be wary of locking in at 3/5 years because I think the interest rate is likely to go up further and then remain there; hence no need to rush into a longer period currently. It's not that the interest rate is poor but rather that you can get higher interest rate for shorter lock in (giving you flexibility) but as a (relatively) hassle free solution I think it would work.



  • #5
    Hibernicis
    Registered Users, Registered Users 2 Posts: 1,750 ✭✭✭Hibernicis


    Zurich, BCP and Standard Life (possibly others) have also offered term deposits with SocGen over recent months. The Zurich 3 year offer was 12.88% (4.12%pa) so Aviva's offer isn't anything earth-shattering.

    The rates quoted by Aviva (Gross Total Return of 11.42% equating to a 3.67% Gross AER) do not take account of charges etc. Did the financial advisor give you a statement showing the net outcome - i.e. how much you would actually receive at the end of term ? Did the financial advisor put in writing a recommendation for you to invest in this rather than the PTSB 3 year term deposit ?

    The following is the Aviva link, including the brochures for anybody that feels the need to review them.

    https://www.aviva.ie/fund-range/beat-the-bank/




Advertisement