Online Notice Deposit 7
If you have a lump sum that you'd like to save and then add to, while earning a competitive variable rate of interest, our Online Notice Deposit 7 is worth checking out. You can avail of our great interest rates of 3.00% AER* variable on all balances up to EUR10,000, and 1.50% AER variable on savings amounts from EUR10,001 - EUR100,000. You can save instantly, easily and securely at any time, online.
How the Online Notice Deposit 7 works...
- You must be a registered user of AIB Internet Banking, and have a suitable AIB payment account, for example a Demand Deposit or a Personal Current Account. This account must be in your sole name, or in the case of a joint account, have suitable signing authority ('any one to sign').
- You must only transfer funds into your Online Notice Deposit 7 from a suitable (see above) AIB account. If you do not, your payment will be returned to the originating Bank, and this may take up to five working days.
- This account is a lump sum savings account - suitable for all lump sum savings amounts - no standing orders or direct debits are permitted into the account.
- Lodgements may be made at any time from any account on your AIB Internet Banking profile.
- The Online Notice Deposit 7 offers a highly competitive variable interest rate.
- In order to withdraw funds, seven days 'Notice to Withdraw' must be served online, through your AIB Internet Banking profile.
- Having served 7 days notice, the relevant funds are available for you to transfer for a further 7 calendar days. This transfer must be done as one withdrawal.
- There is no minimum amount required per account - and the maximum balance permitted is EUR 100,000.
- Transfers can be made to any other AIB account maintained with the Bank in the Customer's name on their AIB Internet Banking profile (held solely or jointly). Fund transfers cannot be made to a third party Account maintained with the Bank nor to an Account maintained with another Credit Institution in the Customer's name or in the name of a third party.
- Bill Payments to third parties are not permitted on the Account notwithstanding such Accounts may be accessible by means of the Customer's AIB Internet Banking Profile.
- This account is available to personal customers only and eligible customers are permitted to have one Online Notice Deposit 7 in their sole name.
Customer Benefits:
- You can keep track of your lump sum savings and watch it grow, through AIB Phone & Internet Banking.
- With the Online Notice Deposit 7, you can earn highly attractive variable interest rates on your savings - which is credited to your account twice yearly in April and October.
- To lodge to your account at any time, simply log on to your AIB Internet Banking profile.
- To withdraw some of your funds, only 7 calendar days notice is required, which you can serve through your AIB Internet Banking profile.
- Once this notice period has been served, you have a further 7 calendar days to access your account and withdraw the funds on which you have served notice.
- There are no account maintenance or transaction fees attached to this account
Tax on Interest earned on Online Notice Deposit 7 Account
We will deduct Deposit Interest Retention Tax (DIRT) at the prevailing rate from all interest earned, unless you are entitled to exemption from DIRT, and we will pay this directly to the Revenue Commissioners.
The Bank will deduct DIRT from the accounts of non-residents unless a fully completed non-resident declaration form is held by the Bank and a minimum balance of EUR12,500.00 is maintained at all times in each account maintained by the non-resident.
To the extent that DIRT has been deducted there is no further liability to Irish income tax, but you may be subject to PRSI/Health levy.
If you or your spouse are aged 65 or over in the current tax year, or are permanently incapacitated, and you are exempt from income tax, you may apply to have the interest on the account paid without deduction of DIRT
*Gross Interest rates are subject to Deposit Interest Retention Tax (DIRT) at the prevailing rate (For detailed information visit www.revenue.ie ). A.E.R is the Annual Equivalent Rate. Rates quoted are correct as at 1st October 2009.
Important/Regulatory Information
Terms and Conditions apply.
See also
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AIB Internet Banking