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High interest regular savings account introduced by Bank of Ireland
30th June 2008
Bank of Ireland Northern Ireland today launched a new savings account paying 10% interest to holders of a linked current account.
Bank of Ireland Northern Ireland today launched a new savings account paying 10% interest* to holders of a linked current account.
The High Interest Regular Saver allows customers to save between £20 and £250 per month by standing order provided they pay at least £1,000 a month into their Bank of Ireland current account.
Marcia Hughes, product manager for savings and investments at Bank of Ireland Northern Ireland, said: “Our 10% rate is the highest available regular savings rate from a local bank in the Northern Ireland market and is designed for those who want to put money aside every month and earn the best possible return.”
The High Interest Regular Saver rate is fixed for 12 months from when the account is opened, after which the balance will be transferred to a standard savings account. Interest is paid monthly and withdrawals during the year are not allowed.
Click here for more information on our Regular Saver products
* The High Interest Regular Saver Account earns 9.57% gross/10% AER. The Gross interest rate represents the fixed rate payable before the deduction of income tax at the prevailing rate. AER stands for Annual Equivalent Rate and illustrates what the interest would be if the interest rate was paid and compounded each year. As every advertisement for a savings product, which quotes an interest rate, will contain an AER, you will be able to compare more easily what return you can expect over time. The AER rates shown here are illustrative of what the rate payable would be if it were paid on an annual basis.
© Bank of Ireland 2008
