Articles About Finance And Refinancing
Develop Your Domain Names
Small Businesses Losing Out on Interest from Big Banks
Dublin, Ireland (PRWEB) August 10, 2008 -- RaboDirect Increases Business Savings Rate
Business Savings - Most SMEs are earning less than 1% interest. Irish SMEs continue to be disillusioned with their business banking services with seven out of ten citing current account charges for overdrafts and lack of rewards for positive balances as key factors according to a survey of the sector from RaboDirect, the AAA rated online savings and investment bank.
RaboDirect published the survey as it announced an increase in its instant access business saver interest rate to 4.30%effective from 5th August. SME's can avail of even higher rates on term deposits starting from one month.
Independent research carried out on behalf of RaboDirect found that a significant number of SMEs are earning less than 1% interest on their surplus funds while only 22% have been offered specific business savings rates according to the RaboDirect survey.
The survey also found that just under half of all SMEs have surplus funds of which 3 in 10 have interest rate earnings of less than 1%. A high proportion of SMEs, 68%, have their current account in credit for 28-31 days every month with an average balance of ?220,000.
Over half of those surveyed were in the service industry with the remainder being in manufacturing, construction and distribution. Six out of ten businesses employed less than ten people. The survey was carried out by Amarach Research on behalf of RaboDirect.
Commenting Greg McAweeney said "The main banks continue to dominate business banking with seven out of ten respondents indicating that their primary relationship is with them. Despite various measures to encourage transparency and competitiveness in business banking it seems as though SME's remain a soft touch for the mainstream banks when it comes to business deposits. Whether you are a self employed service provider in the professions or a small enterprise the chances are that you will have surplus funds languishing in an account on a paltry interest rate. With SME's now under greater pressure than ever moving their business deposits to RaboDirect is a quick and easy way of adding to the bottom line. The alternative is to have your cash inaccessibly tied up with banks that are already profiting substantially through overdraft and current account charges. This is particularly relevant at a time when the average waiting period for payment from creditors is 67 days".
Earlier this year RaboDirect, part of the Rabobank Group and Ireland's only AAA rated bank, entered the business savings market with the launch of its first ever Business Savings Account. This instant access account offers the same 4.0% AER rate of interest to all business customers regardless of size or deposit amount and is available to sole traders, partnerships, solicitors and private limited companies alike. As of August 5th 2008, RaboDirect will increase its instant access business saver interest rate to 4.3%.
As with all RaboDirect demand savings products, no minimum terms or deposits apply and there are no complicated rate structures that lack transparency. The account is not subject to bank charges, interest is calculated daily and there are no penalties or time delays for early withdrawals. RaboDirect.ie championed the introduction of competitive savings when it launched in Ireland in 2005 offering new levels of transparency, consistently high rates and security. The bank plans to inject fresh competition into the SME market where banks have been profiting from inertia and SMEs need to have easy access to savings.
###
Other Article Sites
findabook.com moneycd.info a-mortgage.info
about-lemon-laws.info aboutstudentloans.info
all-about-publishing.info auctions-articles.info bestcollege-university.com bestispconnection.com
biblefolder.com blogger-website.com books-used.info brokers-guide.info buywindows.info cable-dsl.info
career-miner.com carpel-tunnel.info cashinaflash.info cashloanreviews.info casinobell.com chat-house.info
clearmycredit.info collegeloantips.info crones.info depression-articles.info
dirnic.net dishguides.info
divers-below.com expodog.info
financewizz.com fire-insurance.info getgood.info handleit.net
it-idea.info
health-supplies.info hosting-right.com insidealert.com insurance-facts.info jobs-employment.info
justgood.info lookgold.net
lowcost-travel.info money-source.info myhostzone.info numisblog.com
peoplesearchfinder.info pr-articles.info realeas.com
refinancing-guides.info spyware-remove.info
telelot.info the-law.info
toppaid.info travel-deals.info travelcorrect.com wedding-guide-site.com
your-blog.info your-credit.info
MORE ARTICLES:
How to Find Lower Interest Rates on Bankruptcy Car Loans
Sadly, bankruptcy has become more common in recent years. Finding loans has gotten easier over the years as well. The loans are easily available but it is the interest rates attached to them that most people try to avoid. It doesnt make sense to get approved for a loan but not be able to make the monthly payments because the interest rates cause it to be so high. Educating yourself is the best defense in not being taken advantage of. Make sure you do the research and be patient when looking.
Secured Loans: High Amount at Low Interest Rates
People avail secured loans for various reasons. Secured loans are loans that need collateral to be pledged. The collateral can be your house, property or any high value possession. There are various advantages of a secured loan which are discussed below:
Refinancing Mortgage Loan - Get The Lowest Interest Rate You Can When Refinancing
Refinancing can be a very simple process. You fill out a few applications, take the best offer and you're done.
Interest Rate On Refinance Home Loans Explained
The interest rate issue is the main problem when one wants to refinance a home loan. This is because the costs associated with home loans are high and thus, a single point raise on the interest rate can cost thousands of dollars. There are different reasons why one may want to refinance but the interest rate is always an important variable.
Know The Interest Rates When Financing A Loan
It has become quite common for people to finance an auto loan when purchasing an automobile these days. When it comes to buying an automobile, not many people could actually afford to pay the car with cash upfront. Because of this, some would rather choose to take out loans for a huge array of high priced essentials. Similarly, there are other loans that fall into the same category including home mortgage loans and school/college loans. Finding the best lending company or institution is something that need to be done and it is not often easy. There are many factors that need to be considered when borrowing a loan and one of the most important factors is the finance rates on the interest of the loan.
Credit Heaven Announces their Rate Busters Program to Slash Interest Rates for High Interest Loans and Credit Cards
The Rate Busters program is designed to achieve affordable and sustainable payments for borrowers by negotiating lower interest rates or periods of no interest on existing credit card, auto loans and mortgages. This in turn will maximize consumers' ability to reduce monthly payments, reduce debt, maintain or improve consumers' credit as well as reduce creditor's bad debt.
Get Personal Loan, Home Loan, Car Loan after Bankruptcy at Low Rate of Interest
Do you feel your chances of getting approved for a loan after filing bankruptcy is bleak. Wait for a while, bankruptcy loan can help you even after filing for bankruptcy, getting approved for funds after a bankruptcy is not that daunting as you think.
A secured bad credit home mortgage loan comes with reduced interest rates
A secured bad credit home mortgage loan comes with reduced interest rates
Low Interest Rate Auto Loan - Increase Chances Of Getting Approved For A Low Rate
Getting approved for an auto loan is easy. However, obtaining a low rate auto loan may be a bit more challenging. When financing any sort of merchandise, the interest rate received makes a huge difference.
A Low Interest Debt Consolidation Loan When Your Credit Card Interest Is Too High
You just didn't realize you were digging a hole for yourself. You were paying bills and buying ordinary things. Can you even remember when you did anything truly luxurious? Yet, your credit card spending still got away from you and if someone asked you, you doubt you could explain it. In fact, it would be hard to explain anything with the current level of fog in your brain; you wonder, should you ask a doctor for anti-depressants? Somehow, everything is harder; it feels as of you are walking through invisible treacle and there is no-one to rescue you. There is an answer and you don't need a rescuer. What you do need is a low interest debt consolidation loan.
Low Home Mortgage Interest Rate - Finding the Best Mortgage Rate
Interest rates are at an all time low, making now the perfect time to purchase a new home or refinance your existing mortgage. The interest rate you receive will depend largely on your credit rating, monthly debt, and your income.
Importance Of Interest Rate On Refinance Loans
The interest rate is an issue that should never be bypassed when it comes to refinance home loans. Its importance is crucial as it will determine whether you benefit from refinancing or not. Though other loan terms like loan length, loan amount, and other less important clauses should also be considered, the interest rate should be your main concern.
Types of Mortgage Loans with the Lowest Interest Rate
When you're shopping and comparing for a mortgage loan there can be a lot of discrepancies between what lenders offer. Some may offer lower rates with strings attached, others can offer the same terms but with a much higher rate. Shopping around, comparing and negotiating are key skills in getting the type of mortgage loan with the lowest interest rate.
Low Interest Rate Used Car Loan Car at Simply No Cost
Introduction
Mortgage Loans, Construction Loans, Refinancing Mortgage Rate
TheLoansStore.com was created with the interests of the consumer in mind. If you have ever wondered if owning your own home or refinancing your current home would be possible, dont wonder anymore. From new Construction Loans to Mortgages Loans, Bad Credit Home Loans and Refinancing Mortgage Rate. Whether you have great credit, marginal or bad credit, theLoansStore.com can help. We know one size never fits all borrowers.
