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Multiple Savings accounts - good idea?

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  • 20-07-2006 5:36pm
    #1
    MiniMetro
    Closed Accounts Posts: 193 ✭✭


    I have approximately 50k to invest. I am in college for at least another year. I see myself needing the money in about 2 years or so.

    Northern Rock seems to be the best interest rate so I would think that would be the best place to put it all. However as the AIB and Anglo Irish Bank regular saver accounts offer better interest rates I was thinking of doing the following:

    Allow interest to be calculated on the Northern Rock account on a monthly basis. Then after the interest has been calculated transfer the maximum amount allowable (€300 and €1000 respectively) to the other two regular saver accounts.

    As far as I can see this would give me the greatest returns on the savings.

    Am I right in thinking this and also does this sound like a good idea?

    Any advice would be greatly appreciated, thanks.


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