a better alternative to saving in current account?

M

mark123can

Registered User
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currently have about €14,000 in an aib current account that i am making nothing on (o.25)

and €2000 in a halifax current account that im making 7.25% on

I would be open to lodging about 1000 a month to a savings account or possibly a lump sum of 10 or 12 k for a year to get a better interest rate

i was thinking of the e.b.s family account with 5.1% ,is there anything better than this ?

,could anyone recommend what wouold be better for an amount this size ?
 
Have a look at the best buys posts.

The Anglo-Irish regular saver is 5.5%.

Within AIB the seven day notice on-line account might be an option. The whole thing could be set-up on-line if they've already got the AML docs for you.
 
mark123can said:
currently have about €14,000 in an aib current account that i am making nothing on (o.25)
Click to expand...

Close it.

mark123can said:
and €2000 in a halifax current account that im making 7.25%
Click to expand...

Good move, make sure you are logging 1,500 EUR per month.

mark123can said:
I would be open to lodging about 1000 a month to a savings account or possibly a lump sum of 10 or 12 k for a year to get a better interest rate. I was thinking of the e.b.s family account with 5.1% ,is there anything better than this ?
Click to expand...

As per the previous post, Anglo Irish @ 5.5%.

mark123can said:
,could anyone recommend what wouold be better for an amount this size ?
Click to expand...

If you want on demand then the best rate is 3.5% with Anglo Irish.

If you can fix for 6 or 12 months then Investec. They have a 20K minimum, but according to some posters here, they often waive this.
 
Hi we bought a car in 2007 and paid half then and we have just paid the second half by putting €450 per month into an ESB savings account for 2 years. I was thinking that now the car is paid for I might be better off paying that €450 per month off my mortgage now that I can no longer claim mortgage relief or would I be better off investing in that AIB 5.5% account?
 
If your mortgage is 1.50% and you can save at lump sum at 4.50% you are better off saving than paying a lump sum off your mortgage.
 
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