BANK OF IRELAND 6 MONTH INTRODUCTORY FIXED TERM REWARD ACCOUNT (SAVINGS ACCOUNT) REVIEW
Bank of Ireland 6 Month Introductory Fixed Term Reward Account (Savings Account) - Savings Account
(Which Way To Pay - 16/2/2013)
A savings account is a good way to keep money aside, particularly if you have a family or need to save up for whatever reason.
With this account, the minimum lodgement is 10,000 Euros and the maximum is 500,000. Although this is a big amount, the EAR isnít bad at 3.80 per cent, which varies depending on how long you leave your money in your account. However the EAR will only remain at that rate if you donít withdraw any funds during the set term. If you do decide to withdraw any funds, it will go down to 1.00 per cent, which will apply to the amount for the entire term. This is quite a significant drop down in interest so it is advisable to leave your funds be so that you can enjoy the full return of interest on your savings.
The length of time you choose to keep your savings can be up to 2 years, or minimum of 6 months. There is an incentive to keep your funds locked away for 2 years as the EAR is 4.40 per cent. Whereas it the EAR is 3.43 per cent for a 6 month term length.
Overall, this savings account is an ideal investment for someone who can lock away 10,000 Euros for a year or two.
Bank of Ireland 6 Month Introductory Fixed Term Reward Account (Savings Account) is ranked 4 out of 5. Based on 1 review.

4 Star Rating
    
REVIEW RATINGS EXPLAINED
1 Star: 1 Star RatingPoor
In relation to other products, has performed badly and has little or no worthwhile benefits.
2 Stars: 2 Star RatingBelow Average
Has some features of value, but in comparison to others performs below standard.
3 Stars: 3 Star RatingAverage
A fair product with regards to its competitors - has no outstanding features or benefits.
4 Stars: 4 Star RatingGood
In comparison to other products performs above standard, has beneficial features.
5 Stars: 5 Star RatingExcellent
Performs well above standard in comparison, has exceptional features and benefits.

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SAVINGS ACCOUNT
Bank of Ireland 6 Month Introductory Fixed Term Reward Account