PTSB increases certain deposit rates and launches 32-day notice account for business customers

• Increase of 0.75% in 6-month fixed-term deposit account for personal customers to 1.75%
• Highest rate in the market for personal 6-month fixed-term deposits
• Rate on demand deposit product for business customers to increase to 1%
• New 32-day notice deposit account for business customers with 2% interest rate
• PTSB’s 7^th increase in personal deposit rates since November 2022

PTSB is today announcing a 0.75% increase in its 6-month fixed-term deposit account for personal customers, bringing the applicable rate up from 1.00% to 1.75%. This is the highest rate in the market for 6-month fixed-term deposits for personal customers and builds on PTSB’s existing competitive deposit offering which also includes an 18-month fixed-term at 2.50%, our 3-year fixed-term at 3.00% and a 21-Day Regular Saver at 2.50%.

It is also announcing an increase in the rate applicable to demand deposits for business customers. The new rate on this product will be 1.00%.

The Bank is separately launching a new 32-day notice deposit account for business customers. This new product will attract a rate of 2.00%.

The changes announced today mean the Bank has increased personal deposit rates 7 times since November 2022, with customers being offered rates of up to 3.00% on certain deposit products. The Bank will continue to keep deposit rates under review.

The new rates announced today will take effect from Tuesday 5^th March and are available to new and existing customers.

Note to Editors:

1. This is a press release which covers the main points of this announcement but it does not provide detail on every aspect of the changes. Customers should contact the Bank for information on how the changes will impact on their individual circumstances and should seek independent financial advice. Terms and conditions apply to PTSB products.
2. All rates quoted in this press release are the Annual Equivalent Rate (AER).