Terms and Conditions

1.0 Definitions

1.1 The "Bank" means Anglo Irish Bank Corporation plc Ltd., it's successors, assigns and transferees.
1.2 "Deposit or Deposits" means the sum (or sums) of money deposited with the Bank for the purpose (s) of that sum(s) in the Account.
1.3 The "Accountholder" is the person in whose name the Account is maintained.
1.4 The "Account" is the 7 day notice deposit account and is available until such time as it is fully subscribed.
1.5 Products/rates may be withdrawn from the market without prior notice.

2.0 Deposit

2.1The minimum deposit is �2,000. The maximum deposit per applicant is EUR 1,000,000.
2.2 If the balance in the Account falls below �2,000, the Account will convert to an Ordinary Demand Deposit account and the then prevailing Terms and Conditions and interest rate for Ordinary Demand Deposit account will apply.

3.0 Interest

3.1 The rate of interest on the Account is a guaranteed rate for two years, from the date of account opening. The rate of interest on the Account will be variable thereafter. Details of applicable rates are available by phoning 1850 44 22 22.
3.2 Interest is calculated each day based on the cleared balance in the Account using the then prevailing interest rate.
3.3 Interest is paid to the account annually in December.
3.4 The Accountholder may choose to receive a monthly income in the following way:
- lodged to a Bank account nominated by the Accountholder
- paid directly to the Accountholder by cheque
3.5 A statement of account will also issue in January each year, unless otherwise requested.
3.6 Interest is paid after the deduction of Deposit Interest Retention Tax (DIRT), which is calculated using the prevailing DIRT rate at the time of payment. The current DIRT rate is 20%, but is subject to change.

4.0 Withdrawals before the end of Term

4.1 The proceeds of any cheque lodged to the Account may not be withdrawn until the cheque has been cleared. Withdrawals using a Standing Order or Direct Debit facilities are not available with the Account.
4.2 Additional lodgements allowed at any time, subject to account availability.
4.3 7 days notice of withdrawal is required. Where no notice of withdrawal is given, a charge will apply. This charge is equivalent to 7 days' interest on the amount withdrawn and is calculated using the market interest rate prevailing at the date of withdrawal. Where notice of less than 7 days is given, the charge will be reduced to reflect the actual number of days' notice given.
4.4 In the event of the death of a sole or joint depositor, the Account will be repaid subject to the probate regulations of Ireland.

5.0 Identification

5.1 The anti-money laundering provisions of the Criminal Justice Act, 1994, require new Bank customers to produce satisfactory evidence of their identity and current permanent address by means of supporting documentation. A drivers licence or passport, along with a utility bill will usually suffice for individual investors.

6.0 Governing Law

6.1 The Account and Terms and Conditions will be governed and interpreted in accordance with the laws of Ireland.

7.0 Alteration of Terms & Conditions

7.1 The Bank reserves the right to vary these Terms and Conditions if there is any relevant material change in the prevailing legal, tax or regulatory conditions during the Term.
7.2 Any references to legislation in the foregoing Terms and Conditions are accurate as of the print date, April 2002 and are subject to change.
7.3 The Banks general Treasury Terms and Conditions are available on www.angloirishbank.com.

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