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What to do with savings?

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  • 15-10-2013 9:08am
    #1
    joostl
    Closed Accounts Posts: 58 ✭✭


    Hello, I'm looking for advise on the following I have approximately €25.000 in saving and I'm wondering what is the best way to get a maximum return on my savings?

    I'm with Ulster bank and they offer a decent return on savings up to 15.000 (2.5%) but only 1% on savings after 15.000.

    Should i open an additional saving account somewhere else and put the remaining 10.000 in there?

    Are there any better options? I do want to keep access to my money and not lock it away.


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    #2
    keeponhurling
    Registered Users Posts: 5,300 ✭✭✭keeponhurling


    Depdends how much risk you can take.

    But 1% isn't a good return, so maybe you're right, move anything above 15k into another bank where you should be able to get at least 2%


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    #3
    Liam D Ferguson
    Registered Users Posts: 542 ✭✭✭Liam D Ferguson


    This list of best buys may help.


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    #4
    Bobeagleburger
    Registered Users Posts: 45,463 ✭✭✭✭Bobeagleburger


    DIRT tax has just been announced to be heading for 41% next year so not much to be made thanks to Noonan and Co


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    #5
    joostl
    Closed Accounts Posts: 58 ✭✭joostl


    Thanks for in the information, would it be possible for me to open an another saving account in Ulster bank? Or is it only possible to have 1 single savings account per bank?


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    #6
    Liam D Ferguson
    Registered Users Posts: 542 ✭✭✭Liam D Ferguson


    joostl wrote: »
    Thanks for in the information, would it be possible for me to open an another saving account in Ulster bank? Or is it only possible to have 1 single savings account per bank?

    Double-check this with Ulster Bank but I'd expect that they'll allow you to open a second savings account but combine the balances for the purposes of calculating your interest rate. It would be too easy otherwise. If there's a Mrs joostl, however...


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