Saving from 1k to 1.5k for month

danko82

Hi all,
I will be able to save from 1000 to 1500euro for month.
What is the best solution for a plan where I can put this money?
It is fine if I can take back in 2-3 months..
Cheers

Atlantic Dawn

How open are you to risk with the money or do you require a 100% guarantee on it?

danko82

I am very open to risk.
Maybe I can put half without risk and half with rish..
any suggestions are welcome.

Alan152

danko82 wrote: »

I am very open to risk.
Maybe I can put half without risk and half with rish..
any suggestions are welcome.

Saving money on deposit is returning nothing at present, best way to take an element of risk is to use a life company where you can put have the funds in low risk assets and half in slightly higher risk depending on your goals and appetite. Some options out there now also with no encashment penalties so you have immediate access to cash as you need it.

danko82

Alan152 wrote: »

Saving money on deposit is returning nothing at present, best way to take an element of risk is to use a life company where you can put have the funds in low risk assets and half in slightly higher risk depending on your goals and appetite. Some options out there now also with no encashment penalties so you have immediate access to cash as you need it.

Where can I find more info?
Thanks

Alan152

danko82 wrote: »

Where can I find more info?
Thanks

I set mine up through Zurich and did a couple for a few mates but depending on your company of choice you will find the info on their main websites.

danko82

I saw that there are few banks that allow to save from 0 to 1k for month..
If I will save more, Can I have two account with two different bank?

For example:

EBS Family Savings Account 3.00% AER 3.00% gross €100 / €1,000 (per month)
Nationwide UK (Ireland) Regular Saver Account 3.00% AER 3.00% gross (variable) (per month)

Alan152

Hi Danko,

You can have as many accounts as you like with different banks I assume however the bank charges dirt annually on the interest earned annually. A life company lets it grow tax free and will only charge it every 8 years or on any encashments before this date. Also the reason I Prefer funds is the chance to make more money althought depending on what fund you choose, they can be riskier or not.

Surprised you can still get 3% out there on deposit, is that for the first year only?

danko82

Hi Alan,
I found all the info here: https://www.bonkers.ie/compare-savings-accounts
Actually I have already AIB bank as my main bank account, I was thinking to join with them, they have a saving account with 2%.
I will think about it.
Cheers

billyhead

danko82 wrote: »

Hi Alan,
I found all the info here: https://www.bonkers.ie/compare-savings-accounts
Actually I have already AIB bank as my main bank account, I was thinking to join with them, they have a saving account with 2%.
I will think about it.
Cheers

Like yourself I have an account with AIB (CURRENT ACCOUNT) and I am thinking of opening a regular savings account with them @2% APR as its pretty much the same rate as the other banks etc.

TiGeR KiNgS

Just as a heads up, if your liable to DIRT the 2016 tax rate is 41%, so the return will only be 1.18% after tax.

danko82

billyhead wrote: »

Like yourself I have an account with AIB (CURRENT ACCOUNT) and I am thinking of opening a regular savings account with them @2% APR as its pretty much the same rate as the other banks etc.

I chose that as well..
I opened it yesterday..