Saving Money

romperstomper

Can anyone tell me what the best saving scheme is out there? ie Rado direct northern bank or whatever. I want to take my money out of bank irelands bullsh1t smart save account and put it somewhere so that it actually gains a little interest.

drdre

romperstomper wrote:

Can anyone tell me what the best saving scheme is out there? ie Rado direct northern bank or whatever. I want to take my money out of bank irelands bullsh1t smart save account and put it somewhere so that it actually gains a little interest.

I think im going to buy prizebonds as i know they will be safe there and also i have a 1 in 4 chance to win a draw in 1 year so i might win something.

i would also be interested in your question to see who pays the most and where is the best to save.

Tom Dunne

Prize Bonds have been shown to be the least productive of all the methods to invest your money, and I use the term invest very lightly. Do a search on this very forum. You may as well hide your money under the bed and take a few Euro out each month an burn it.

Rabo and Northern Rock are up there with the best, though Rabo have no minimum amount, whereas Northern does. Bank of Scotland and AIB do savings accounts with similar interest rates (in the region of 3.5%, I believe), but again have minimum monthly amounts.

I personally use Rabo. I like the fact I can lob in a few Euro whenever I like, I am not comitted to a monthly amount.

drdre

tom dunne wrote:

Prize Bonds have been shown to be the least productive of all the methods to invest your money, and I use the term invest very lightly. Do a search on this very forum. You may as well hide your money under the bed and take a few Euro out each month an burn it.

Rabo and Northern Rock are up there with the best, though Rabo have no minimum amount, whereas Northern does. Bank of Scotland and AIB do savings accounts with similar interest rates (in the region of 3.5%, I believe), but again have minimum monthly amounts.

I personally use Rabo. I like the fact I can lob in a few Euro whenever I like, I am not comitted to a monthly amount.

whats the rate rabo gives, and you can pay whenever you want thats a good option.is there any fees involved.

daveirl

This post has been deleted.

Tom Dunne

drdre wrote:

whats the rate rabo gives, and you can pay whenever you want thats a good option.is there any fees involved.

Using the wonder of technology that is the internet, I surfed for hours on end and eventually came up with a page called www.rabodirect.ie

I found all the answers to my questions, including right there on the very first page, a rate of 3.2% and a line mentioning something to the effect of "no fees".

Now, would you like me to open the account for you?

drdre

tom dunne wrote:

Using the wonder of technology that is the internet, I surfed for hours on end and eventually came up with a page called www.rabodirect.ie

I found all the answers to my questions, including right there on the very first page, a rate of 3.2% and a line mentioning something to the effect of "no fees".

Now, would you like me to open the account for you?

Whats the internet?Yeah could you please open an account for me as im so lazy:D .

Only Kidding!!! i might just be happy with buying prizebonds.

whizzbang

rabo is very good, I moved most of my money there a few months back. I did have it in AIB but they were giving terrible interest rates.

hawker

Am I right in saying that if you are prepared to put in a set amount every month that the Bank of Scotland offer is better?

It seems to work out better on their calculators anyway!

PDelux

I am doing the AIB online one which gives
gross 3.50%
(annual potential) 3.50% - 5.25%

I only started a few months ago and it was i think 3%, they have increased the interest rates so hopefully if there are more increases they'll pass them on.
the bonus is if you dont withdraw more than once a year i think, which is fine.

Trampas

RaboDirect is increasing its rates from 3.2% to 3.35% from the end of the month.

whizzbang

PDelux wrote:

I am doing the AIB online one which gives
gross 3.50%
(annual potential) 3.50% - 5.25%

I only started a few months ago and it was i think 3%, they have increased the interest rates so hopefully if there are more increases they'll pass them on.
the bonus is if you dont withdraw more than once a year i think, which is fine.

do they still have the €1000 a month limit for adding money to the account? Thats what put me off as I had a lump sum.

japanpaul

Anyone know the best place to invest a lump some of E6000 for 3 years?
It doesn't matter if I can't touch it during the 3 years as I don't want to be tempted.
At the moment, I have it in an EBS long term (Sure Growth) account where I can withdraw on the last day of every month but I don't need this withdrawl option as it's too tempting. Over the last 3 years I have already whittled down E10000 to the current E6000 with nothing to show.
Just wondering does anyone have any better ideas for the money?