Wanted 40,000 Euro

0utshined

I don't know about millions but your average Joe Q. Public isn't that well versed in financial matters so I wouldn't be surprised if some people did have large deposits at terrible rates.

musician.ie

As for looking for the bank to defer the first payment for 12 months ROTFL!!!

Actually, they will - it's all about trust. About 5 years ago I was finishing the purchase of my house. I also needed a car. I didn't have the dosh, but knew I would have it in 12 months. I requested a loan for the car whereby I make no payments for a year and then pay it back in it's entirety in a lump sum in 1 years time. The bank official laughed at me - literally. I told her to call the lady who was handling my mortgage. She demured. I ordered her to call the lady. She did so under protest. I explained my request to the lady. She looked at my nemesis and ordered her to wite me a cheque on the spot. She nearly choked saying "here's your cheque sir"

Victor

lomb wrote:

have AIB got any big depositors? their deposit interest rates are minisucule. if i lodged 1million euro with them they would offer me 10000euro interest at the end of a year, tax would be 4200 of that leaving me with 5800.

Off topic, but DIRT is only 20%.

Chipboard

musician.ie wrote:

I requested a loan for the car whereby I make no payments for a year and then pay it back in it's entirety in a lump sum in 1 years time. The bank official laughed at me - literally.

That Bank Official didn't know her arse from her elbow. Thats called a bridging loan with interest roll-up. A bank would do hundreds of them every week.

Chipboard

lomb wrote:

have AIB got any big depositors? their deposit interest rates are minisucule. if i lodged 1million euro with them they would offer me 10000euro interest at the end of a year

They have a multitude of big depositors. The interest you get paid is the risk free rate of return. If you want to make serious money you have to invest in shares, property etc. Your money is guaranteed, why should you make a huge return for doing nothing. If anyone ever tells you that you can make big money with no risk - they're lying. By the way you would easily get around €22,000 a year for a million on deposit.

lomb wrote:

tax would be 4200 of that leaving me with 5800

That has nothing to do with the bank. Thats to keep the excellent politicians you elected, in the style they have become accustomed to.

lomb wrote:

inflation being what it is, it would be eroding the 1million by 50 grand a year. so at the end of 1 year i would be down 44200 euro.

Fashionable as it is at the moment, I dont think we can blame that one on the banks either.


The flip side is that you can borrow at extremely low interest rates at the moment but people never focus on that. Talk to your parents, they'll probably tell you about when they paid 45% on overdraft.

lomb

Chipboard wrote:

They have a multitude of big depositors. The interest you get paid is the risk free rate of return. If you want to make serious money you have to invest in shares, property etc. Your money is guaranteed, why should you make a huge return for doing nothing. If anyone ever tells you that you can make big money with no risk - they're lying. By the way you would easily get around €22,000 a year for a million on deposit.



That has nothing to do with the bank. Thats to keep the excellent politicians you elected, in the style they have become accustomed to.


Fashionable as it is at the moment, I dont think we can blame that one on the banks either.


The flip side is that you can borrow at extremely low interest rates at the moment but people never focus on that. Talk to your parents, they'll probably tell you about when they paid 45% on overdraft.

Im not blaming the banks, but the reality is putting money on deposit is a pointless exercise unless its temporary.

BuffyBot

but the reality is putting money on deposit is a pointless exercise unless its temporary.

Putting it in a standard desposit account is pointless. However, putting into a term deposit or other long term investment can reap a nice little dividend if you find the right one.

RicardoSmith

Its not unusual these days for people to pay up front 40k to do commercial pilots license. However theres no guarantee you'd pass it. Theres a high failure rate.

Direct entry cadetship in airlines are very rare these days and there something like 2000 qualified and experienced CPL's in the UK looking for work, so I don't see how a training company can quarantee that you'll be placed. Theres a oversupply of pilots worldwide at the moment.

But that said, if you are determined enough, and good enough its a good career choice. You'll get proper advice on the forums at www.pprune.com. I have a few mates who are pilots. Love to have done it myself, but it never worked out. Such is life.

sector7g

Have done the same thing myself albeit 7 years ago. Firstly 40k is very conservative unfortunately! Also 1yr witout payments now thats optimistic too. You'd be very luckly to go from zero or near to it hours to sitting in the right seat of an airliner in 1 year.

When I did it I got a bank loan guaranteed by my dad, but like alot of my friends I needed more money for more courses after getting the frozen ATPL.

The best of luck with it, its amazing to have a job that you're passionate about.
You'll get the money somehow!

RicardoSmith

sector7g wrote:

Have done the same thing myself albeit 7 years ago.....

Did you make it through?