Dublin (PRLEAK) October 30, 2009 – Derek Keogh, Head of Personal Savings at Anglo Irish Bank, shares his expertise on savings accounts with the public and stresses on the important factors that need to be taken into consideration prior to opening a savings account. Banks offer a variety of savings accounts and bonds, which makes it difficult to decide on the perfect type of account.

Mr. Keogh has the following tips to compare the best savings rates.
The interest factor is very important, and individuals need to check whether rates interests are paid monthly, quarterly, or annually. The annual equivalent rate will allow you to determine the overall return on interest.
Deposit tax is normally deducted at source once the interest accumulates. However, individuals may be able to reclaim this tax and need to check with the local tax authorities. This could result in a higher return on your investment.
Inflation is always been a key factor in interest rates. The inflation rate needs to be lower than the interest rate, otherwise individuals stand to lose in the long run.
Reading the fine print will help individuals to a great extent. Penalties can be imposed on breaking the terms of the savings contract, for example, premature withdrawals. This can reduce the returns on a savings account.
The Anglo Irish Bank Corporation Limited publishes this material for general information purposes only. This does not constitute an offer to buy or sell or solicit any investment products or other financial product or service. All information is provided \"as is\" and without warranties express or implied and Anglo Irish Bank Corporation Limited accepts no liability whatsoever for any inaccuracies, errors, omissions, opinions or misleading information or for any action taken or not taken in reliance on the information in this message. Any expressions of opinion are current opinions as at the date of publication and are subject to change without notice.

About Anglo Irish Bank Corporation Limited
The Anglo Irish Bank became a nationalized bank on Jan. 21, 2009 in accordance with the Anglo Irish Bank Corporation Act 2009. The bank provides business lending, treasury, personal, and private banking services to a wide range of customers. The Bank operates in Ireland, the UK, Germany, Austria, the Isle of Man, Jersey and the USA.