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Savings advice

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  • 10-12-2006 9:30pm
    #1
    Slippin Jimmy
    Registered Users Posts: 6,031 ✭✭✭


    I am 16 years old and have a Bank Of Ireland current account. I have started a new job and am going to be getting paid once a month. I want to start savin up as much money as possible, about €100-€150 a month. Where would be the best place to save this?


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    #2
    stepbar
    Closed Accounts Posts: 6,123 ✭✭✭stepbar


    You could prob qualify for a second level savings account with Bank of Ireland, but you were better ring up your local branch - Look up this for the number http://www.bankofireland.ie/html/gws/locator/index.html. AFAIK the rate is 3.7% at the moment which is very good.


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    #3
    sofireland
    Registered Users Posts: 1,245 ✭✭✭sofireland


    Local Credit Union would be a good bet in my opinion.

    They normally offer around 4%

    Don't know what it is in St Mary's in Navan though.


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    #4
    stepbar
    Closed Accounts Posts: 6,123 ✭✭✭stepbar


    sofireland wrote:
    Local Credit Union would be a good bet in my opinion.

    They normally offer around 4%

    Don't know what it is in St Mary's in Navan though.

    Where is this credit union that offers 4%, cause I would seriously like to know..... :confused:


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    #5
    sofireland
    Registered Users Posts: 1,245 ✭✭✭sofireland


    Some offer good rates of return, everyone of them is different though.


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    #6
    stepbar
    Closed Accounts Posts: 6,123 ✭✭✭stepbar


    sofireland wrote:
    Some offer good rates of return, everyone of them is different though.

    We'll then its not 4% is it? :rolleyes: OP you are better off if you are with BOI to stay with them and build up a credit history, maybe you might want a loan for a car in the future etc etc. Like wise if you are with AIB or PTSB etc etc.


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    #7
    Sarsfield
    Closed Accounts Posts: 1,359 ✭✭✭Sarsfield


    If you're in a position to make regular savings, then AIB Regular Saver account is offering 6.6% interest which I think is the best available. You can save up to €300/month with them.

    There may be some terms and conditions about how easy it is to withdraw money in the first year but that might be a good thing in that you'll maintain your saving habit and not drop it at the first opportunity to spend on something silly!


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