Hope I'm posting this in the correct place!
As a non dirt paying OAP I'm looking to invest 20000 and am comparing accounts in permanent tsb.
If I leave it in (Term Deposit) for 5 years the gross is 11.75% and the AER is 2.25%.
However the AER is the same for a few other accounts with a shorter term but the gross is much smaller (4.38% for 2 years interest first and 6.9% for a 3 year term deposit)
I know I'm supposed to go for the higher AER but since I'm not paying dirt and can leave it for 5 years should I go for the higher gross.
Thank you so much to anyone who replies
Mollyo
As a non dirt paying OAP I'm looking to invest 20000 and am comparing accounts in permanent tsb.
If I leave it in (Term Deposit) for 5 years the gross is 11.75% and the AER is 2.25%.
However the AER is the same for a few other accounts with a shorter term but the gross is much smaller (4.38% for 2 years interest first and 6.9% for a 3 year term deposit)
I know I'm supposed to go for the higher AER but since I'm not paying dirt and can leave it for 5 years should I go for the higher gross.
Thank you so much to anyone who replies
Mollyo