RaboBank or Northern Rock?

higster

Rabo: 3,75% (>€10k)
Northern rock: 4,12% (>€1k)

Others (BOI, AIB etc) way behind...anything I'm missing with these 2 or any positive/negative experiences?

Makemericher

I am a customer of Rabo. Rates for both Rabo and NR are

Rabo: 0 - 10k: 5.0%; balance over 10k: 3.75%
NR: 1 - 1m: 4.15%

Here's the page from the Rabo site with the rates http://www.rabodirect.ie/savings-ireland/SSIA.asp

The regular saver accounts aren't any use for lump sums.

naitkris

Northern Rock is actually 4.30% AER on amounts of 1000 Euro or more, if the balance falls below 1000 Euro it will receive interest at the prevailing basic savings rate, currently 0.10% gross per annum from Northern Rock's website.

of these 2 big savings banks in Ireland, RaboDirect definitely seem to offer the much more competitive offering at the moment.

tHE vAGGABOND

with northern rock and I think they are brilliant..

Sonnenblumen

Makemericher wrote:

I am a customer of Rabo. Rates for both Rabo and NR are

Rabo: 0 - 10k: 5.0%; balance over 10k: 3.75%
NR: 1 - 1m: 4.15%

Here's the page from the Rabo site with the rates http://www.rabodirect.ie/savings-ireland/SSIA.asp

The regular saver accounts aren't any use for lump sums.

Makemericher, assuming you have €10k on deposit for a full year, and are only liable to pay DIRT @ 20% you will for your 5% be better off with €68.00.

If you have more at your disposal well I would for starters suggest you see an accountant and if you cannot afford one, well I would change your AVATAR to 'Makemesqueal' and go watch the monkeys getting richer in the zoo.

BendiBus

Sonnenblumen wrote:

Makemericher, assuming you have €10k on deposit for a full year, and are only liable to pay DIRT @ 20% you will for your 5% be better off with €68.00.

I'm sure Makemericher would rather he had the €68 than NR/Rabo did.

Maybe that's how he's making himself richer. Making his money work that little bit harder.

Sonnenblumen

BendiBus wrote:

I'm sure Makemericher would rather he had the €68 than NR/Rabo did.

Maybe that's how he's making himself richer. Making his money work that little bit harder.

He's actually losing, because after you factor in inflation, for every €1 he earns in interest he's losing €3.00+. That's no deal and nothing to smile about!!

Better investment options available.

naitkris

Sonnenblumen wrote:

He's actually losing, because after you factor in inflation

indeed. inflation is currently 4.8% per annum, was 5.2% in January (guessing it will come in at around 4.9% for this month when released this coming week). at this level you aren't winning with the vast majority of savings options but it is security for your money all the same. having all your eggs in 1 basket (property, stocks, or whatever) is risky business.

BendiBus

Sonnenblumen wrote:

Better investment options available.

But a demand deposit account ISN'T an investment account. It's for keeping cash readily available. You're now trying to compare apples & oranges to make Rabo look bad.

You can only compare a demand deposit against other demand deposits.

Zaph

Sonnenblumen wrote:

Better investment options available.

There are always better investment options available, however they don't necessarily suit everyone as people have different liquidity requirements and levels of risk/reward that they're willing to accept. The discussion here is about two different deposit accounts, so clearly the OP is asking about something which suits the level of risk he/she is prepared to take with their money and yet still have easy access to it.