Thursday 22 March 2018

Keep keen eye on savings

CONSUMERS who have a deposit account have been urged by the National Consumer Agency to make sure they make the most of their money.

The state agency said many lump-sum accounts have introductory rate offers, where you get a higher rate for a specified amount of time after you open the account, or your rate is fixed for a specified amount of time.

Generally, after the introductory period, your rate will revert to the standard variable rate.

This could mean a significant drop in your interest rate, so make sure you keep a note of when the introductory period ends so you can review your options.

Consumers have also been urged to be aware that the rate of interest you are getting may only apply if your funds are under a certain amount.

Irish Independent

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