What to do with my savings?

Hi, I'm looking for some advice. I have finally saved up 10,000 in my current account - do you have any advice on what I should do with it to get the best return? I'm with Permanent TSB, and would like something with no risk.

I also have 10,000 saved with the credit union.

Also bear in mind that I may be applying for a mortgage next year. (at least 12 months away).

I also like managing money as much as possible online rather than arranging appointments etc to meet with bank people!

Thanks.

You should keep it on deposit in those circumstances - there isn't much difference between 1 year fixed-term and instant access rates at the moment - check out the "Best Buys" section for the best rates.

Yeah, have a read of the best buys.

If you dont mind a bit of hassle, one option is the KBC Extra Regular Saver.

The account pays 3.50% AER variable, allows a lump sum up to 10,000 EUR at the start, requires a standing order deposit of at least 100 EUR per month. Also, requires a KBC current account to be opened which in turn requires a deposit of at least 2,500 EUR per month to ensure you get free banking.

CiaranT said:

Yeah, have a read of the best buys.

If you don mind a bit of hassle, one option is the KBC Extra Regular Saver.

The account pays 3.50% AER variable, allows a lump sum up to 10,000 EUR at the start, requires a standing order deposit of at least 100 EUR per month. Also, requires a KBC current account to be opened which in turn requires a deposit of at least 2,500 EUR per month to ensure you get free banking.

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I've only switched to PTSB within the last year so unfortunately that doesn't sound like an option for me, sounds like a great deal though!

JackBlack said:

I've only switched to PTSB within the last year so unfortunately that doesn't sound like an option for me, sounds like a great deal though!

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Why not? I bank with UB but have a KBC Extra current account solely for the purpose of gaining access to their Extra Regular Saver account.

If you dont mind a bit of hassle, one option is the KBC Extra Regular Saver.

pudds said:

Why not? I bank with UB but have a KBC Extra current account solely for the purpose of gaining access to their Extra Regular Saver account.

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+1
I bank with PTSB but also have a KBC current account which is solely used to fund Regular Saver accounts. Once it'a set up and you have online banking and transfers there is no work or cost involved.

Can you just deposit the €2500 each month and then transfer it back out again? I wouldn't have €2500 spare to lodge every month....

Yes, you can do that.

Can I ask how others are managing the €2500 lodgement per month? I'm interested in opening this a/c but fear it could be a lot of hassle. Any tips to manage it easier?

You could change your salary to be paid in directly. That could cover the 2500, or portion of same.
Personally I didn't want hassle of this as I'm happy with ptsb current account as my day to day current account.
Instead, I have instant access saver with KBC that I manually transfer the E2500 from and back on second of each month. Takes about three minutes to do the two transactions and thats it for the month.

Too much hassle as I've all my direct debits coming out of my perm tsb were my wages go in. Might just do what you,actually sounds ok.