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Best short term savings options, 12 - 18 months

  • 16-05-2016 3:50pm
    #1
    billybonkers
    Registered Users Posts: 2,293 ✭✭✭


    I would like to put away a fixed amount monthly for the next 12 - 18 months. About 1,000 euro per month, savings towards a deposit for a home.

    What are the best options available at present, where will I get the best return/interest?

    I really have no idea where to even start looking for this info. I have a regular savings account with my bank (AIB) that I currently deposit into on a monthly basis. Interest is paid quarterly but is very small. It is the account where you have to give 7 days notice to withdraw money from and was set up online.

    Thanks


Comments

  • #2
    JTMan
    Registered Users, Registered Users 2 Posts: 5,541 ✭✭✭JTMan


    Have a read of this: http://www.askaboutmoney.com/threads/regular-savings-accounts.20747/

    KBC Regular Saver pays 4.00 AER variable which is the highest regular saver rate. Current account required. Current account has no fees is you deposit at least 2,500 EUR per month and do not use the cards.


  • #3
    okiss
    Registered Users, Registered Users 2 Posts: 698 ✭✭✭okiss


    I would advise you to look at www.consumerhelp.ie. When you go on to this website click on financial product comparisions and then regular savings.

    Once you do this you can enter that you want to put €1000 a month into a regular savings account and a list of products, interest rate and the sum of interest earned will come up.

    In regards to you aib online account I would find out the interest rate your earning on this. If you have a decent sum of money in this it may be better to move this money into a fixed term savings account for 6 or 12 months.

    On this website you can also find the rates for fixed term accounts also.


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