Decided to get my act together today and walked down to my local Bank of Ireland branch to get some financial advice. I was impressed enough with their lump sum options however their Dualsaver regular saving account didn’t hugely impress me given the sweep from 3% to 1.75% when savings reach 5k.
Had a brief look around there at other financial institutions who mainly seem to have variable rates which would not hugely appeal to me as I am quite risk adverse.
Any of ye bankers, or anyone else, aware of other decent options out there?
It depends on you though.
Do you want “on demand” money or long term savings getting at money twice a year for example.
Ulster Bank have a decent savings scheme there if you had some money to put in to start it up (15k).
I think the “its your money” website would be a good start though.
Rabo was the business but not sure any more. I have 2 rabo accounts but I think their rates are gone down alot. Worth checking though.
[quote=“Garda Sean Horgan”]It depends on you though.
Do you want “on demand” money or long term savings getting at money twice a year for example.
Ulster Bank have a decent savings scheme there if you had some money to put in to start it up (15k).
I think the “its your money” website would be a good start though.
Rabo was the business but not sure any more. I have 2 rabo accounts but I think their rates are gone down alot. Worth checking though.
Yours etc,
GSH.[/QUOTE]
Rabo gone well down Guard from itsyourmoney. 2% for regular monthly savings.
Ulster Bank seem to have the best one. 4.75%. None of this sweep bullshit and no limit on the number of withdrawals.
You should have back Dublin at 6/4 to win Leinster. After a patchy performance they are down to 4/7 now and an impressive back to lay proposition already. That price will shorten before they play their next game.
[quote=“farmerinthecity”]Decided to get my act together today and walked down to my local Bank of Ireland branch to get some financial advice. I was impressed enough with their lump sum options however their Dualsaver regular saving account didn’t hugely impress me given the sweep from 3% to 1.75% when savings reach 5k.
Had a brief look around there at other financial institutions who mainly seem to have variable rates which would not hugely appeal to me as I am quite risk adverse.
Any of ye bankers, or anyone else, aware of other decent options out there?[/QUOTE]
Anglo
Despite its current owners & its previous owners:
It is offering the best rates on depoits (in todays market)
Fristly Farmer the term is risk averse, not adverse.
Secondly I’d recommend investing in some diversified funds. Rabo have a good offering as far as I know for investing regular savings into their managed funds. I know you said you were risk averse but do you really need the money? If it’s to invest and grow you won’t find a better time than now to start buying into funds. Interest rates are too low at the moment to justify leaving the money on deposit.
[quote=“briantinnion”]Fristly Farmer the term is risk averse, not adverse.
Secondly I’d recommend investing in some diversified funds. Rabo have a good offering as far as I know for investing regular savings into their managed funds. I know you said you were risk averse but do you really need the money? If it’s to invest and grow you won’t find a better time than now to start buying into funds. Interest rates are too low at the moment to justify leaving the money on deposit.[/QUOTE]
The only person to take advice from on this is the man who correctly predicted the downfall of the property market and the banks, TFK Finance and Transport Spokesman Ben Shermin.
Say you were looking to investment a smallish amount over a 5 year period (we’ll just say 200 a month) that would be 12k over the term. Would you be wasting your time with a managed fund over that kind of time frame? Would you need to have it in there for longer to really see the benifits of it (market cycles etc).
