Dáil Éireann Debate, Tuesday - 25 October 2005
320 Mr. Quinn asked the Minister for Finance the rate of interest on short-term and long-term deposits in the Post Office savings bank for each year since 1990; and if he will make a statement on the matter. [30196/05]
View answerThree short-term deposit accounts are available through the Post Office savings bank, or POSB, which are the book-based demand deposit account, the 30 day notice account, known as ‘Deposit Account Plus', and the Special Savings Incentive Account. Details of the interest rates applying to these accounts since 1990 are set out in the following tables. Since the Deputy's question refers to long-term as well as short-term deposits, I am also including information about savings certificates, savings bonds and instalment savings which are longer-term small savings products but not actually POSB products. The changes in interest rates over the period 1990 to 2005 reflect changes in interest rates generally in the retail market.
|
A. 1990-1993 |
|
|---|---|
|
With effect from: |
Rate (p.a.) |
|
% |
|
|
21/10/89 |
7.00 |
|
21/01/90 |
7.75 |
|
15/06/90 |
7.25 |
|
06/07/90 |
6.75 |
|
01/11/90 |
6.25 |
|
28/01/91 |
6.75 |
|
24/04/91 |
6.25 |
|
02/09/91 |
5.75 |
|
01/02/92 |
6.00 |
|
09/06/92 |
5.50 |
|
12/10/92 |
7.00 |
|
05/04/93 |
4.50 |
|
18/05/93 |
3.50 |
|
21/06/93 |
3.00 |
|
With effect from: |
Total return |
Term |
Rate (p.a.) |
|
% |
% |
||
|
07/03/86 |
40 |
5 years |
6.96 |
|
27/01/94 |
40 |
5 years & 9 months |
6.00 |
|
14/02/96 |
34.5 |
5 years & 6 months |
5.54 |
|
18/03/97 |
30 |
5 years & 6 months |
4.89 |
|
05/05/98 |
25 |
5 years & 6 months |
4.14 |
|
23/12/98 |
16 |
5 years & 6 months |
2.74 |
|
With effect from: |
Total return |
Term |
Rate (p.a.) |
|
% |
% |
||
|
01/07/86 |
20.4 |
3 years |
6.38 |
|
14/02/96 |
17 |
3 years |
5.37 |
|
18/3/97 |
14 |
3 years |
4.46 |
|
5/5/98 |
12 |
3 years |
3.85 |
|
23/12/98 |
8 |
3 years |
2.60 |
|
With effect from: |
Total return |
Term* |
Rate (p.a.) |
|
% |
% |
||
|
1/7/86 |
50 |
5 years |
7.65 |
|
4/4/96 |
35 |
5 years |
5.61 |
|
7/4/97 |
30 |
5 years |
4.89 |
|
23/12/98 |
15 |
5 years |
2.57 |
|
With effect from: |
Tiers |
Rate (p.a.) |
|
% |
||
|
01/11/93 |
under £3,000 |
2.00 |
|
£3,000 and over |
2.75 |
|
|
19/01/94 |
under £1,000 |
0.75 |
|
£1,000-£2,999 |
1.00 |
|
|
£3,000-£4,999 |
1.50 |
|
|
£5,000 and over |
2.25 |
|
|
01/06/94 |
under £1,000 |
0.50 |
|
£1,000-£2,999 |
0.75 |
|
|
£3,000-£4,999 |
1.25 |
|
|
£5,000 and over |
2.00 |
|
|
01/03/96 |
under £3,000 |
0.50 |
|
£3,000-£4,999 |
0.75 |
|
|
£5,000 and over |
1.50 |
|
|
01/06/96 |
under £5,000 |
0.50 |
|
£5,000 and over |
1.00 |
|
|
10/04/99 |
under £5,000 |
0.25 |
|
£5,000 and over |
0.50 |
|
|
Euro Changeover |
||
|
01/01/02 |
under €6,000 |
0.25 |
|
€6,000 and over |
0.50 |
|
|
21/07/03 |
under €6,000 |
0.10 |
|
€6,000 and over |
0.25 |
|
With effect from: |
Tiers |
Rate (p.a.) |
|
% |
||
|
01/01/93 |
all accounts |
7.00 |
|
05/04/93 |
under £1,000 |
4.50 |
|
£1,000-£2,999 |
5.50 |
|
|
£3,000-£4,999 |
7.00 |
|
|
£5,000 and over |
9.00 |
|
|
18/05/93 |
under £5,000 |
7.00 |
|
£5,000 and over |
9.00 |
|
|
01/07/93 |
under £5,000 |
7.00 |
|
£5,000 and over |
8.00 |
|
|
02/01/93 |
under £5,000 |
6.00 |
|
£5,000 and over |
7.00 |
|
|
09/02/94 |
under £5,000 |
5.00 |
|
£5,000 and over |
6.00 |
|
|
01/03/96 |
under £5,000 |
4.00 |
|
£5,000-£24,999 |
5.00 |
|
|
£25,000-£39,999 |
5.50 |
|
|
£40,000 and over |
5.75 |
|
|
01/06/94 |
under £5,000 |
3.50 |
|
£5,000-£24,999 |
4.50 |
|
|
£25,000-£39,999 |
4.75 |
|
|
£40,000 and over |
5.00 |
|
|
10/04/99 |
under £40,000 |
2.00 |
|
£40,000 and over |
2.50 |
|
|
Euro Changeover |
||
|
01/01/02 |
under €50,000 |
2.00 |
|
€50,000 and over |
2.50 |
|
|
21/07/03 |
under €30,000 |
1.00 |
|
€30,000 and over |
1.50 |
|
With effect from: |
Type |
Rate (p.a.) |
|
% |
||
|
01/05/01 |
Fixed rate |
4.00 |
|
Variable rate |
4.00 |
|
|
01/03/03 |
Fixed rate |
4.00 |
|
Variable rate |
2.75 |
|
|
21/07/03 |
Fixed rate |
4.00 |
|
Variable rate |
2.00 |
