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Savings options for lump sum 6 months ?

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  • 07-11-2013 2:01pm
    #1
    gomamochi1
    Registered Users Posts: 542 ✭✭✭


    Hi I am looking to put away 180k for 6 months but unsure with the recent 40% tax on interest on where to put it with little risk just safe spot as looking for new house while renting.
    Was thinking of post office or credit union as I understand no tax on interest on savings but I may be wrong?
    Any suggestions welcome. Thanks


Comments

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    #2
    JTMan
    Registered Users Posts: 5,540 ✭✭✭JTMan


    The Post Office will give you a low rate for 6 months.

    The CU will give you a low rate or nothing for 6 months.

    Check out this guide. You might be best with KBC who pay 2.30% for 6 months.


  • Options
    #3
    Atlantic Dawn
    Registered Users Posts: 82,564 ✭✭✭✭Atlantic Dawn
    M


    Remember that the government guarantee only covers €100k per account so it's best splitting it between banks.


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


    Atlantic Dawn wrote: »
    Remember that the government guarantee only covers €100k per account so it's best splitting it between banks.

    It might be 200k depending on the OP's circumstances. 200k is covered for joint accounts.

    Hence, the 180k could be inside deposit insurance levels.


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