Deposit rates on 16 May 2012
- It is your responsibility to ensure that the deposit you select meets your needs so it is important that you seek appropriate financial advice.
- Standard Life does not endorse or recommend any deposit or deposit provider and is not responsible for a deposit’s performance or the solvency of a deposit provider.
- In the event of a deposit provider being unable to meet any claims against it, money from your policy held with that provider will not be covered by schemes such as the Financial Services Compensation Scheme or the Deposit Guarantee Scheme. Some deposits may be covered by the Eligible Liabilities Guarantee (ELG) Scheme if the provider is a participant. See table of deposits and “ELG note” below for more information.
Deposits available through the self directed option on Synergy pensions and investments
| Limited Offer^ Demand deposits | Amount | Variable Rate | AER |
|---|---|---|---|
| RaboDirect* | Minimum €5,000 |
3.93% |
4.00% |
*Available for new business only. Clients who choose this option will get a rate of 3.93% (4.00% AER), between 5 March 2012 and 30 June 2012. From 1 July 2012 the prevailing variable RaboDirect demand deposit rate will apply (this rate can be confirmed by checking this page at the time). Interest is accrued daily and applied monthly, which is equivalent to 4.00% AER variable.
^ This offer can be withdrawn at any time.
| Demand deposits | Amount | Variable rate | AER |
|---|---|---|---|
| Nationwide UK (Ireland)** | Minimum €5,000 |
2.05%^^ | 2.05%^^ |
| RaboDirect*** | Minimum €5,000 |
2.37%^^^ | 2.40%^^^ |
**Interest is accrued daily and applied annually, which is equivalent to 2.05% AER variable.
***Interest is accrued daily and applied monthly, which is equivalent to 2.40% AER variable.
| Fixed term deposits | Amount | 12 month fixed (rate over term) | AER | 18 month* fixed (rate over term) | AER |
|---|---|---|---|---|---|
| Nationwide UK (Ireland) | Minimum €5,000 |
2.70% | 2.70% | N/A |
N/A |
| EBS Limited See ELG Note |
Minimum €5,000 |
3.95% | 3.95% | 6.21% | 4.10% |
*Interest is applied at maturity for 18 month deposits.
| Fixed term deposits | Amount | 3 year fixed (rate over term) | AER | 5 year fixed (rate over term) | AER |
|---|---|---|---|---|---|
| Nationwide UK (Ireland)3 | Minimum €5,000 |
8.64% | 2.80% | N/A | N/A |
| RaboDirect4 | Minimum €5,000 |
5.40% | 1.80% |
11.75% | 2.35% |
| EBS Limited4 See ELG Note |
Minimum €5,000 |
12.90% | 4.30% | 25.00% | 5.00% |
^^Previous rate 2.15%, (2.15% AER), effective from 16/08/10 to 29/11/10
^^^Previous rate 2.225%, (2.25% AER), effective from 18/04/11 to 08/08/11
For earlier variable demand rates, please call us on 01 639 7080
Interest is applied annually and
(3) compounded to your client's fixed term deposit annually or,
(4) paid to your client's policy cash account annually.
- The rates may change or be withdrawn at short notice. The rate you get is the rate available on the day the money is received by your chosen provider. This may take up to five working days.
- At the end of your fixed term deposit, the value of the deposit will be lodged to your policy cash account. You should then consider your investment options and seek appropriate financial advice.
- AER is the annual equivalent rate and shows what the interest rate would be if compounded and paid each year.
- There may be other deposit providers not shown here which are available as an investment option. Call us on 01 6397080 or email selfdirected@standardlife.ie for more information.
ELG note: Under the ELG Scheme, fixed term deposits opened with this provider between now and 31 December 2012 will be guaranteed for the term of the deposit. (Subject to EU Review in June 2012.)
