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where's the best rate for lump sum deposit?

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  • 09-05-2013 7:40pm
    #1
    Kate253
    Registered Users Posts: 167 ✭✭


    I'm a bit confused. I have been on to the NCA.ie site and checked out their best value rates for a certain lump sum , where the highest rate is 2.75% AER and next highest is 1.95% AER rate. But then I was looking at Ulster bank and they had a seemingly competitive rate of 2.5%, yet NCA didn't mention this is any of their top 7:

    What am I missing?? I am trying to decide where best I am lodging a lump sum.

    Thanks in advance. :)


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    #2
    greenman09
    Registered Users Posts: 1,909 ✭✭✭greenman09


    Did you choose the different terms on that site?


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    #3
    Scortho
    Closed Accounts Posts: 3,876 ✭✭✭Scortho


    Kate253 wrote: »
    I'm a bit confused. I have been on to the NCA.ie site and checked out their best value rates for a certain lump sum , where the highest rate is 2.75% AER and next highest is 1.95% AER rate. But then I was looking at Ulster bank and they had a seemingly competitive rate of 2.5%, yet NCA didn't mention this is any of their top 7:

    What am I missing?? I am trying to decide where best I am lodging a lump sum.

    Thanks in advance. :)

    What's the lump sum (roughly as in under or over 100k)?
    How long are you willing to deposit it for. Is it instant access deposit account, 7 day notice, 30 days, 1 year, 3 years, 5 years or 10 years.
    Both the lump sum (some accounts pay less over 100k, don't know why as its riskier) and the term of the deposit will effect the interest rate.


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    #4
    JTMan
    Registered Users Posts: 5,540 ✭✭✭JTMan


    Kate253 wrote: »
    I'm a bit confused. I have been on to the NCA.ie site and checked out their best value rates for a certain lump sum , where the highest rate is 2.75% AER and next highest is 1.95% AER rate. But then I was looking at Ulster bank and they had a seemingly competitive rate of 2.5%, yet NCA didn't mention this is any of their top 7:

    What am I missing?? I am trying to decide where best I am lodging a lump sum.

    Thanks in advance. :)

    Read this guide.


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    #5
    Scortho
    Closed Accounts Posts: 3,876 ✭✭✭Scortho


    Fungus wrote: »
    Read this guide.

    It's a godsend sometimes


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    #6
    Kate253
    Registered Users Posts: 167 ✭✭Kate253


    Thanks. Its 10K.


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    #7
    Scortho
    Closed Accounts Posts: 3,876 ✭✭✭Scortho


    Kate253 wrote: »
    Thanks. Its 10K.

    How much access do you want. The best is kbc bank at 2.6 % which is a lot higher than many notice accounts.

    If you want to lock it away for the year, the highest is nationwide uk at 2.75%.

    If it was me, I'd go for the kbc instant access. The extra 0.15% isn't worth it, especially If something popped up (being made redundant for example) and I needed access to savings.


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