European Central Bank (ECB) interest rate hikes could cost Irish homeowners €450m this year and another €1.9 billion on top in 2012, an expert on banking relationships told The Sunday Business Post.
Posts Tagged ‘banks’
The Sunday Business Post provides a detailed summary of the best savings options available in the market. The piece notes the Fine Gael pledge to increase tax on interest earned on savings (DIRT) from the current 27% to 30% “to encourage higher levels of household expenditure”. However, the increased economic uncertainty still means plenty of incentives to save for those inevitable rainy days ahead.
So, what’s on offer?
AIB is planning to set up a standalone savings business based around the €5.2 billion domestic deposit book it took over from Anglo Irish Bank last week, The Sunday Times reports.
Ireland has the dubious distinction of being the only country of 19 in a report commissioned by Credit Suisse where investors would have been better off leaving money on deposit over the past decade rather than investing in bonds or equities.
In yet another sign of the times, Ulster Bank will wind down its wealth-management division, putting new clients into its financial planning business, according to The Sunday Times.