It is likely the case that deposit rates will start to go into a downward move as the ECB drops its odds of raising rates and as banks seek to find margin (which they can do via lower deposits). This contrasts with the massive funding issues the banks are having (and the country for that matter!), but it is still important to see that a guaranteed 4% plus return is possible and on that basis locking away some cash is a good idea. The excerpt is below:
‘‘There is an argument to go out one year at 4 per cent,” said Karl Deeter of advisors.ie. ‘‘Locking it away is the downside. Rates are coming down, but banks might be so deposit-hungry that they keep savings rates up.”