Loyalty Saver - Overview
An account that pays an annual bonus if you make no more than four withdrawals in an annual period.
- Minimum Balance - €2,000. If the balance on the account falls below the minimum balance, the nominal rate of 0.01% Gross/AER (variable) will apply.
- Maximum Balance - €1,000,000. Suitable for lump sum savings.
- Watch your money grow – make lodgements whenever you want or set up a monthly Standing Order to help to build your savings.
- Easy Access - your money is there when you need it. You can manage your account through our Anytime Internet & Telephone Banking* or in branch.
- Conditional Annual Bonus - Make no more than four withdrawals in an annual period** and you'll receive bonus interest in addition to standard interest. If you open your account during an annual period, the bonus interest, if applicable, will be paid on a pro-rata basis. If you close your account during an annual period, the bonus interest will not be paid.
- Interest payment - interest (including bonus interest) is calculated daily and paid into your account each January. Bonus interest will not be paid if you make more than four withdrawals in an annual period.
All returns are subject to Deposit Interest Retention Tax (DIRT). Under current legislation, the effective DIRT rate is 33%.
Gross is the interest rate paid before the deduction of tax.
Annual equivalent rate (AER) illustrates what the interest rate would be if paid and compounded each year.
Anyone aged 18 or over and resident in the Republic of Ireland can open a Loyalty Saver account.
* You are required to register for Anytime Banking to be able to access your funds and manage your account online or over the telephone. If you do not register for Anytime Banking you can manage your account through the branch network. Transfers to an account at other ROI banks or building societies, either online or over the phone, are subject to a daily limit of €13,000. If you wish to transfer more than this amount please contact Anytime Banking on 1850 424 365† to discuss the options available to you. Charges may apply to these options, please see our booklet A guide to personal accounts fees and interest for details. We will need to have your telephone number on file for some of these options so please ensure you provide this at account opening.
† In order to maintain the highest levels of service, we may record and monitor telephone calls.
** Annual periods commence on the first business day in January and end on the last business day in December. Withdrawals on a non-business day (weekend or bank holiday) are recorded as withdrawals on the subsequent business day. This means that if, for example, you make a withdrawal from your Loyalty Saver account on Saturday 31 December 2011 this will be recorded as a withdrawal on Tuesday 3 January 2012, thereby potentially impacting your interest payment in 2012 not 2011.
