PTSB announces changes to deposit rates for all personal and business customers, including market leading 6-month and 1-year fixed rates

• 0.75% increase in 1-year fixed rate and 0.25% increase in 6-month fixed rate
• No change to 18-month and 5-year fixed rates
• Decrease in 3-year fixed rate
• PTSB’s 2^nd set of rate increases in personal deposit rates this year and 8^th set of increases since November 2022

Friday 10 May 2024

PTSB is today announcing changes to fixed term deposit rates for all personal and business customers.

The Bank is increasing its 1-year fixed rate by 0.75% to a market-leading 2.75% and its 6-month fixed rate by 0.25% to a market-leading 2%. The new rates are designed to attract customers who are looking for a higher rate of return on shorter terms.

This is the second increase in the 6-month fixed rate in two months, following a 0.75% increase in March.

There is no change to the current 18-month and 5-year fixed rates, which remain at 2.5% and 2% respectively.

The new 3-year fixed rate will be 2.1%, a reduction of 0.9%.

The changes announced today mean the Bank has increased personal deposit rates 8 times since November 2022, with customers being offered rates of up to 2.75% on certain deposit products. The Bank will continue to keep deposit rates under review.

The new rates announced today will take effect from Tuesday 14^th May 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).
3. The new rates announced today are available to new and existing personal and non-personal customers, excluding Corporate Deposit customers.