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Best savings account interest rate

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  • 22-06-2014 8:03am
    #1
    dave 27
    Registered Users Posts: 1,204 ✭✭✭


    Hi guys, I am looking to send money home from oz and looking to maybe open a new Irish account to put my money in to, im just wondering who has the best interest rates and what account would be best? I dont plan on touching the money also for about 6 months.

    Thanks


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    #2
    aido79
    Registered Users Posts: 5,374 ✭✭✭aido79


    Why don't you put it in a high interest account in Australia until you are ready to send it back to Ireland? You would be lucky to get 2% interest rate at best with an Irish bank at the minute whereas you can get 3-4% with an Australian bank. With the exchange rate also rising slowly at the minute it also would not be a good idea to change it to euros until you need the money.


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    #3
    catbear
    Closed Accounts Posts: 5,092 ✭✭✭catbear


    aido79 wrote: »
    Why don't you put it in a high interest account in Australia until you are ready to send it back to Ireland? You would be lucky to get 2% interest rate at best with an Irish bank at the minute whereas you can get 3-4% with an Australian bank. With the exchange rate also rising slowly at the minute it also would not be a good idea to change it to euros until you need the money.
    Exchange rate volatility? The aus$ is called the pacific peso for a reason.


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    #4
    niva*sis
    Registered Users Posts: 309 ✭✭niva*sis


    ANZ have a progressive saver acc with a good interest rate I think it was 3.7% as long as you don't withdraw within the month frame line for the interest. Not bad.


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    #5
    aido79
    Registered Users Posts: 5,374 ✭✭✭aido79


    catbear wrote: »
    Exchange rate volatility? The aus$ is called the pacific peso for a reason.

    Money is still better off in Australian bank than an Irish bank at the minute.


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    #6
    coldpaw
    Registered Users Posts: 133 ✭✭coldpaw


    Comm Bank Goal Saver and Netbank saver are 3.81% heaps better than the Irish banks and no DIRT.
    https://www.commbank.com.au/personal/accounts/savings-accounts.html?ei=bc3

    Not sure on the Currency fluctuations though


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    #7
    jockey#1
    Registered Users Posts: 317 ✭✭jockey#1


    For an extra .20% in interest, you can use Ubank. Pretty much no restrictions other than depositing min $200 by direct debit each month.

    Although there is no DIRT on interest here you should be paying income tax at your marginal rate!


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    #8
    hussey
    Registered Users Posts: 6,240 ✭✭✭hussey


    jockey#1 wrote: »

    Although there is no DIRT on interest here you should be paying income tax at your marginal rate!
    Yeah flipping 45% for some :(


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    #9
    Legend100
    Registered Users Posts: 736 ✭✭✭Legend100


    hussey wrote: »
    Yeah flipping 45% for some :(

    Cry me a river if you are earning over 180k :)


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