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Post Office Savings

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  • 03-04-2012 2:51pm
    #1
    Gael23
    Registered Users Posts: 12,100 ✭✭✭✭


    Im thining of moving my savings to the Post Office because these accounts seem to offer a much better return. But im having trouble deciding which one.
    At the moment im between the 4 year National Solidarity Bond with an AER of 3.29% or the 5.5 year savings certificates @3.5%. Im not sure if that little bit extra is worth being locked in for 18 months?


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    #2
    Rhys Essien
    Registered Users Posts: 3,029 ✭✭✭Rhys Essien


    Check out KBC Bank.The best return at the moment.

    http://www.kbc.ie/

    They have a 14 month fixed account AER 4.29% amongst others.


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    #3
    Mollyd90
    Registered Users Posts: 608 ✭✭✭Mollyd90


    try bonkers.ie for a comparsion of accounts


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    #4
    Hootanany
    Registered Users Posts: 5,477 ✭✭✭Hootanany


    Rhys Essien wrote: »
    Check out KBC Bank.The best return at the moment.

    http://www.kbc.ie/

    They have a 14 month fixed account AER 4.29% amongst others.

    What about dirt.


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    #5
    Rhys Essien
    Registered Users Posts: 3,029 ✭✭✭Rhys Essien


    Hootanany wrote: »
    What about dirt.

    What do you mean?

    Everyone knows you pay DIRT of 30% on your interest.


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    #6
    dotsman
    Registered Users Posts: 3,636 ✭✭✭dotsman


    Rhys Essien wrote: »
    What do you mean?

    Everyone knows you pay DIRT of 30% on your interest.

    True,

    Likewise the National Solidarity bond is subject to dirt, but the savings certs aren't.

    As far as I can tell, savings certificates offer the best return at the moment. However, you are locking your money in for 5.5 years to get that return, plus there is the likelihood (but no guarantee) that interest rates on savings in banks will rise over that term.


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    #7
    Gael23
    Registered Users Posts: 12,100 ✭✭✭✭Gael23


    dotsman wrote: »
    True,

    Likewise the National Solidarity bond is subject to dirt, but the savings certs aren't.

    As far as I can tell, savings certificates offer the best return at the moment. However, you are locking your money in for 5.5 years to get that return, plus there is the likelihood (but no guarantee) that interest rates on savings in banks will rise over that term.
    I dont think im willing to lock it away for that long to be honest. When I opened my current savings a/c with PTSB it was earning 3.5% and its now down to 1% so I dont see it competing anytime soon.
    Might take a look at KBC but I think i'll go with the 4 year solidarity bond because you can still access the money if you really need to over the 4 years.


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    #8
    JTMan
    Registered Users Posts: 5,540 ✭✭✭JTMan


    ryanf1 wrote: »
    I dont think im willing to lock it away for that long to be honest. When I opened my current savings a/c with PTSB it was earning 3.5% and its now down to 1% so I dont see it competing anytime soon.
    Might take a look at KBC but I think i'll go with the 4 year solidarity bond because you can still access the money if you really need to over the 4 years.

    See here for a guide to all deposit options.

    Perhaps, a 2 month term deposit with PTSB that pays 3.55% would suit your needs. Keep an eye on the rate around maturity date.


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