Which Account to withdraw money from

Seabass

Registered User
Messages
19
Hi

I have 20k in a Rabodirect account @ 1.75% interest.
I have about 9k in an AIB online saver account that I started last November (the one that gives 2.5% (i think) interest in maximum of 1000k increments every month from month 1 to year month 12 and back to month 1 again thereafter. So its in about month 9 of the cycle.

I need to spend about 6k later this week.
Which account am I financially better off to take from first do you think ? Apologies if this post comes across as clueless/lazy.

Thanks
Seabass
 
I'd take €6000 out of the Rabo account if there is no penalty.
You'd have to find a new home for the AIB funds in 3 months, and the AIB interest changes to 2.25% in September.
So the difference is between losing €6000 @ 1.75% for 3 months in Rabo, €26.25
or €6000 @ 2.5% for 1 month, 2.25% for 2 months, which I make roughly €35 loss in AIB.

Actually, as my figures are before tax, there is only a fiver difference, so do whichever is easiest for you.
 
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