PTSB to offer customers interest of 2.75% upfront as part of new saving account

PTSB said customers can receive interest upfront as a lump sum within the first month of opening the account

PTSB said customers can receive interest upfront as a lump sum within the first month of opening the account. Picture Andres Poveda

PTSB has launched a new personal Interest First deposit product paying 2.75% AER for 1-year fixed term savings.

The European Central Bank (ECB) recently cut its main savings rate by 25 basis points, which will impact on variable savings rates. The last few months have seen several new offerings for Irish savers in response.