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Where to invest/save €4,000...

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  • 12-04-2010 2:12pm
    #1
    Trained Monkey
    Registered Users Posts: 78 ✭✭


    Hi,
    I've saved approx €4,000 and am looking at options about investing or opening a saving account. Should I just put it in the Credit Union or are there better ways of making a few more euro out of it? Obviously don't have much experience with investments or savings accounts so all advice is welcome...


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    #2
    dellas1979
    Closed Accounts Posts: 4,128 ✭✭✭dellas1979


    What do you mean when you say inverstments? Are you talking stocks and shares? Its not too much of a bad idea, but, there is big risk - shares can go up or down (look at what has happened the last year or so). You are talking years of investing and 4000 wont make you a lot.

    Other options include high interest savings account. You might make €100 or so a year in interest (minus DIRT at 25%). Myself, I have an account with rabodirect. The interest is not a good as say a year ago, but it is stable and triple A accredited. A website that provides info on savings accounts etc is www.askaboutmoney.com


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    #3
    vector
    Registered Users Posts: 1,756 ✭✭✭vector


    OP

    If I was in your shoes I'd put it in a Credit Union.

    I fear that Rabobank... is too good to be true... here's why
    If push came to shove what are the chances that only Dutch savers would be compensated? also if there was a run on the bank they could just disable their website? That's just what my gut says but I'm not an expert on banking.


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    #4
    dellas1979
    Closed Accounts Posts: 4,128 ✭✭✭dellas1979


    Eh?
    They are triple A accredited.
    He has 4000 not 400000.
    Credit union? He would yield maybe e60 interest on credit union rates. Sorry no he probably wouldnt even yield that.


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    #5
    GeorgeH
    Registered Users Posts: 34 ✭GeorgeH


    Have you looked at Nationwide UK Ireland, they are as safe as any other bank and their rates are pretty ok.
    phone 1800 800 200
    if you are comfortable with internet or telephone banking


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    #6
    JTMan
    Registered Users Posts: 5,540 ✭✭✭JTMan


    You will get a very low return or a zero return with the credit union.

    Check out the Ask About Money best buys here.

    Nationwide UK is probably your best option.


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    #7
    danjo-xx
    Registered Users Posts: 5,393 ✭✭✭danjo-xx


    vector wrote: »
    OP

    If I was in your shoes I'd put it in a Credit Union.

    I fear that Rabobank... is too good to be true... here's why
    If push came to shove what are the chances that only Dutch savers would be compensated? also if there was a run on the bank they could just disable their website? That's just what my gut says but I'm not an expert on banking.



    Are ya mad.....I had 10k in the credit union last year and the return was....zero.....not a red cent..and not even a friendly face when I went to take it out.

    It's now in Nationwide UK (Ireland) with a fixed rate of 3.20% for one year.


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    #8
    jack888
    Registered Users Posts: 168 ✭✭jack888


    What about the post office, they offer the best rates.


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    #9
    Priapus
    Closed Accounts Posts: 114 ✭✭Priapus


    jack888 wrote: »
    What about the post office, they offer the best rates.

    agree. and no dirt.


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