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Best place for GAA club to save Lotto Jackpot

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  • 13-01-2008 12:18am
    #1
    culabula88
    Closed Accounts Posts: 401 ✭✭


    Where would the best place to save the lotto jackpot money for a local GAA club be .

    The balance of the account will always be the jackpot of the lotto until the lotto is won and also the money from sales of the lotto on a weekly basis. Talking about 5000e up to 10000e . The balance would always be at least 2000e

    We would need to withdraw the jackpot money quickly in case it is won - but could stall for 2 / 3/4 days if necessary ( or possibly a week depending on the winner ).

    The money must be 100 % secure , but looking for the best possible return. The proceeds of the lotto would be lodged into this account on a weekly basis - so we could have some sort of weekly saver ( but the amounts would be above 400e each week but the amount could vary higher - i.e variable amounts above

    What kind of interest rate could we get?


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    #2
    unclebill98
    Registered Users Posts: 3,816 ✭✭✭unclebill98


    In my exp, because its a business there are very few instant access account that will offer a high return via a good interest rate. The amount your talking about is not alot. Interest rate for most business savings accounts are less than 1% for the amount mentioned.


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