Short to medium term savings

Monokne

Hey all

Recently came into a few quid - about €13,000 - and I'm looking to put a good chunk of it - about €10k - in a savings account of some sort that would add to the figure over time.

I would ideally like an account that I can't access easily, like with an ATM card etc, but that I could still access in emergencies. However, if no such thing exists, that's fine too.

Anyone have any advice?

Cucking Funt

My advice is to do nothing, with dirt haping your arsh its a waste of time, if you have time maybe read up on stocks (or funds)

BorneTobyWilde

And probably a bad idea telling everyone you have 13,000 when your location is plain to see

Cucking Funt

BorneTobyWilde wrote: »

And probably a bad idea telling everyone you have 13,000 when your location is plain to see

I doubt he has it lying around the shop now in gold bars? Plus its not a huge amount of cash either its only a cheeky 13k

BorneTobyWilde

Cucking Funt wrote: »

I doubt he has it lying around the shop now in gold bars? Plus its not a huge amount of cash either its only a cheeky 13k

And suddenly there is a knock on the door.:)

Cucking Funt

BorneTobyWilde wrote: »

And suddenly there is a knock on the door.:)

dotsman

With interest rates so low and DIRT so high, you are not going to get much in the way of interest.

For me, I would go with saving certificates at the moment (or maybe savings bonds/National Solidarity Bond). See here for details. The interest rate, although low, is about par with most other options but are tax free (so essentially you should double the figure when comparing to other schemes)

Although your dealings with an post may be bureaucratic (it's all paper based, weeks to process etc), this sounds exactly like what you are looking for (you can get the money back early if you need it, but not easily). There are no fees/charges for withdrawing the money early, but the bulk of the interest is given towards the end of the term, so the earlier you "cash in" the less interest you earn.

More info on how the interest is applied here.

Monokne

Thanks Dotsman, that's really helpful :-)

Now just to dig the gold bars out from under the mattress.

cbreeze

If you go onto the national consumer website you can get comparisons for lump sum investments

http://compare.consumerhelp.ie/LumpSumSavingsAccountResults.aspx

The figures given are the gross amounts - you have to delete the DIRT amount to give you a truer picture of what you would get, as against investing it in an An Post product.

JTMan

Monokne wrote: »

Hey all

Recently came into a few quid - about €13,000 - and I'm looking to put a good chunk of it - about €10k - in a savings account of some sort that would add to the figure over time.

I would ideally like an account that I can't access easily, like with an ATM card etc, but that I could still access in emergencies. However, if no such thing exists, that's fine too.

Anyone have any advice?

Sounds like you need a term deposit.

How long do you want to lock the money away for?