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Savings Account Options

  • 02-01-2018 6:16pm
    #1
    enaeknala1
    Registered Users Posts: 129 ✭✭


    Hi everyone,

    I currently bank with AIB and have just recently set up a savings account. €100 a week that comes out every second Friday (the same day I get paid). I'm getting quite a poor rate as its not a monthly saver but I find it much easier than twice the amount coming out monthly. I am wondering can anyone advise me on any better options out there for me?

    It is a long term savings account and I do not need access to it without a long notice period. From what I can see KBC seem to have some good options, but my lack of knowledge on some of the finer details is holding me back. Would love if someone could point me in the right direction.

    Thanks in advance.


Comments

  • #2
    dennyk
    Registered Users, Registered Users 2 Posts: 1,715 ✭✭✭dennyk


    If you can meet the €2500/mo lodgement requirement for the KBC Extra Current Account (which can be done by transferring money from another non-KBC bank account and then sending it right back if your normal monthly income wouldn't be enough), the KBC Extra Regular Savings Account is the best interest rate you'll find for standard savings by far (currently 2.5%). No notice period to access your funds either, which is a nice plus if you're using it as an emergency fund. If you fail to meet the lodgement requirement even once then you'll lose the +2% bonus rate forever, though, so just make sure you can meet that requirement consistently one way or another.

    If you already have a separate emergency fund and short term savings elsewhere and this is really just going to be a long-term investment, you may also want to consider looking into other investment products such as ETFs that would provide a higher rate of return (though with greater risk, of course).


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