back in April Anglo ran adverts in the sundays offering 3.5% gross AER on savings http://posterous.briangreene.com/anglo-ads-in-the-sundays – These savings were offered with a certainty of return.
Well going forward (as Cowen would say) Anglo may not be 3.5% certain as today they offer the same deal at 3.2%
Did European interest rates fall? no they are only set to rise from historic lows – as the product is a savings product and the offer is a fixed percent return for savings over a period, why would the offer rate fall? are Anglo less certain now than they previously were in April. I’m thinking if future lending interest rates rise then future savings interest rates will rise NOT fall.
This offer comes with the added enticement that “A minimum deposit of €1 ” can be made.
OK €1 – if lots of folk opened €1 accounts they could avail of telephone and internet support and mail outs and as a depositor you may even get a free pen or be able to attend the AGM. for a quid. Enticing.
Remember – Banks chain their pens that we use (so we don’t steal from the bank) while their ex CEOs remain unchained out of jail and free to do secret deals with our banks that they owe millions of euros to.
Don’t bailout the banks – No to NAMA and no to NAMA for the people – Bailout the home owners – Don’t nationalise the debt – Nationalise the profits and create working banks for working people – do not prop up the zombie banks we have for the zombie developers, land speculators and their political servants in Fianna Fail.