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What to do with savings?

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  • 06-04-2007 7:20pm
    #1
    Yorky
    Registered Users Posts: 1,485 ✭✭✭


    In a situation where a risk averse person has come into a sum of money - approximately £5,500 STG and further weekly payments amounting to approx.£3,000 STG PA- , would they be better off:

    A) putting the money in a high interest deposit account in the UK such as http://www.fool.co.uk/savings/compar...-accounts.aspx OR

    B)exchanging the Sterling for Euro, putting it into a lump sum deposit account earning 4.3%GROSS and drip-feeding it into a regular saver account earning 7.1%GROSS?

    I know the UK deposit rate is higher than the Irish one but the regular saver account pays 7.1%.

    There is also a currency risk of course.

    Could anyone offer any advice on the best option?


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