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[BUSINESS] · Ireland, Australia · 2 sources

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Part of situation: Savings account interest rate trends in Australia and UK (2 clusters)

Bank of Ireland and AMP Bank increase savings interest rates

interest rates term deposits savings accounts banking fixed-term deposits

Bank of Ireland has announced an increase in interest rates for its Advantage Fixed Term Deposits. The rates for 6, 12, and 18-month terms will rise by between 0.25% and 0.50%. Under these terms, customers retain the ability to access up to 25% of their deposited funds during the term.

In Australia, AMP Bank has raised rates on its 6- and 12-month GO term deposits by 15 basis points. The 6-month rate has increased to 5.30% p.a., while the 12-month rate has reached 5.55% p.a. for deposits between $5,000 and $10 million. These adjustments position AMP Bank's offerings above those of Australia's four largest banks.

Entities

AMP Bank · Bank of Ireland

Sources

Bank of Ireland raises interest rate across fixed-term savings range - Bank of Ireland Group Website [www.bankofireland.com]
AMP Bank lifts term deposit rates to 5.55% p.a. [www.savings.com.au]