Regular Savings Incentive Account
We are delighted to introduce our new savings account which will earn members a guaranteed 1% interest rate, plus a 1% bonus should they satisfy certain conditions.
- Lodge €10-€500 monthly for 24 months
- Monthly amounts can vary subject to minimum and maximum monthly limits
- Lodgements can be made by payroll deduction, direct debit or directly into the account
- The ‘Account Holder’ (member) must hold €63.50 in a share account before a deposit account can be opened
- Whereas the credit union will endeavour to ensure that all lodgements are made to your account in a timely manner, we cannot be responsible for direct debit or payroll deduction payments that are delayed.
- Annual Equivalent Rate is 1.01% plus a bonus of 100% of that after 2 years if terms are satisfied
- Interest is subject to DIRT which is currently 33% (DIRT is subject to change)
- Interest is calculated & accrued each day
- Interest is paid into the member’s account on a monthly basis
- The maturing bonus of 1% will be posted to the member’s account at the end of the 24th month
- Bonus 1% rate will be paid if the account is held until maturity and no withdrawals are made
- Under the Credit Union Act, the credit union may require not less than 21 days notice of intention to withdraw funds from this account
- This account will mature into a regular deposit account at the nominal and variable rate at the time of maturity
- The credit union reserves the right to withdraw these accounts at any time without notice
- The credit union reserves the right to vary these terms & conditions if there is any change in the prevailing legal, tax, or regulatory notice
- These accounts carry no life cover/insurance
- The credit union may at any time, without notice to the member, offset and apply any credit balance in this account toward payment of any loan which may be in default and where the member has failed to respond.