40 Day Notice Account

40 Day Notice Account

EBS 40 Day Notice Account

If you’ve got money to save, but are unsure about your future plans and how long you want your money tied up – then the EBS 40 Day Notice Account is right up your street. Tuck your savings away and they’ll accrue interest while you go about your daily life; while gaining a higher rate of interest than a demand account.

Read more below, or why not request a call back with your local savings expert? They’ll answer any query you have or meet you for a relaxed chat about your options.

I Want Easy Access to My Savings

Earn a competitive return on your money while still maintaining the flexibility to withdraw your cash and interest with 40 days’ notice. You can lodge more money to the account at any stage and the interest rate is variable. Nice. Read below for more details on the features and benefits.

Benefits of a 40 Day Notice Account

  • There’s no limit to the amount of accounts you can open.
  • No maintenance or transaction fees apply; but there may be other service charges that apply. For details see EBS Fees and Charges.
  • Additional lodgements are possible at any time.

Features of a 40 Day Notice Account

  • Minimum opening lodgement of €5,000, with no maximum amount.
  • Withdrawals made on demand are subject to an interest penalty*.
  • The interest rate is variable, calculated daily and credited to your account in June and December.
  • This account is for personal funds only and can be opened in sole or joint names
  • Check out our 40 Day Notice Interest Rate, and see the full Terms and Conditions for the 40 Day Notice Account here.

*If you make a withdrawal without the full, specified notice period being served, you will be charged an interest penalty. An example of how the interest penalty is calculated is shown below.

Can I Get Access to My Money if I Haven’t Given 40 Days Notice?

  • Yes you can, but there is an interest penalty if you do! Here is an illustration of how that interest penalty is calculated.
  • Picture this – you would like to withdraw €10,000 from your 40 Day Notice Account on which you have not served any notice.
  • The variable interest rate on your account, on the day of withdrawal, is 0.20%. (The variable rate used in the calculation is indicative, and has been chosen for illustrative purposes only).
  • The following interest penalty would apply:

Withdrawal Amount x Interest Rate / 365 days x 40 day’s notice = €10,000 x 0.2% / 365 days x 40 days = €2.19.

Important / Regulatory Notice

Important information: Account terms & conditions apply. Interest is subject to Deposit Interest Retention Tax (D.I.R.T) at the prevailing rate (for more information see www.revenue.ie).