The bank said the new product was being introduced to meet an “important need” of business customers seeking a higher return with the flexibility to access funds by providing 31 days’ notice to withdraw.
However, 73 per cent of businesses said they would consider depositing funds at one month’s notice if there was a clear benefit, indicating an interest among business customers for a 31 day notice offering. The product is available to both new and existing AIB customers. There is no minimum or maximum balances for the account, and customers can add funds as many times as they wish.
“This 31 day notice deposit gives customers the option to earn a higher return on their funds, with a rate of 1.5 per cent, but maintains flexibility to access funds with 31 days’ notice which is key in an uncertain operating environment.”
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