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Advice needed for novice!!

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  • 05-12-2007 5:41pm
    #1
    Nelly23
    Closed Accounts Posts: 78 ✭✭


    I have recently started work full time and I am keen to start a savings account and a pension. I plan to use the savings account to save for a holiday and for tax and insurance on my car. I plan to put €250 a month into it and €50 a month to my pension. I am currently with AIB but plan to take out a car loan (probably with Halifax) if this makes a difference! Any advice or am I leaving out vital information??

    Cheers.


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    #2
    Jet Black
    Registered Users Posts: 3,845 ✭✭✭Jet Black


    A lot of the banks are giving 7%+ on regular savings. This is just to get customers in really. Always ask how long this offer is for, because with some its only a couple of months. Also restrictions on withdrawls and the ammount you can save etc.. In terms of pension see what your company offers. They will usually offer something good. E.g for mine every €1 I put in they add €2 so I get €3. Otherwise try Irish Life for pensions.

    For a loan the best place to apply is in the branch. This way if it is a borderline case in terms of underwriting they can appeal it.
    If you are only starting your employment best not to apply for at least six months. Some banks a year. They want to see how you manage your money. Also if you have no lending history and are looking for something over €10000 chances are you wont get it. If you are under 25 its a bigger risk for the bank to take you on.

    Hope this helps:)


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