€100K - Where to put? into Saving Certs?

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kinglynn

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Myself and My OH have recently come into money - €100k to be exact and we want to save it. I want to put it in the An Post Savings Certificates but OH is unsure if these are good (with regards to interest) or if they are secure. Can anyone shed any light on this? My OH is worried that the money will be tied up for 5.5 years, perhaps OH would want something on a year to year basis but with little hassle, has anyone any recommendations??
 
Savings Certs are your best option by a long shot for medium-term investment. Have a look at the Best Buys section. Remember wit An Post you do not pay DIRT.
 
Just to clarify, some An Post products charge DIRT and some part charge DIRT and some charge zero DIRT.

Only go for the 5.5 year product if you happy that you money will be tied up for that long period.
 
It is in the 3 best buy threads.

30 day notice charges DIRT. (and some other products)

10 year term deposit charges part DIRT.

3 year and 5.5 year term deposit charges zero DIRT.
 
Thanks CiaranT

I know absolutely nothing about savings (cos I never have any) but we were lucky to get this lump sum.
If I put in €100K into the Saving Bonds for 3 years - how much would I get back at the end of the 3 years approx?
If I put the €100K into the Savings Certs for 5.5 years - how much would I get back at the end of the term?
I don't know how to calculate it out myself.

Thanks again.
 
What about Rabo bank, Northern Rock, Ulster Bank as places to hold your money. I presume the Gov cant get at their accounts.
 
They are UK owned, UB part of RBS 84% (Approx) owned by UK gov, NR 100% owned, Rabo is AAA rated, same as UK Gov, Ireland is AA-.

So they should not need support from Irish Gov,
 
If I put in €100K into the Saving Bonds for 3 years - how much would I get back at the end of the 3 years approx?

€110,000

If I put the €100K into the Savings Certs for 5.5 years - how much would I get back at the end of the term?

€121,000
 
Thats correct. And no DIRT.:D. Just thinking, what is the score on Income Tax on that interest. Is there any?:confused:
 
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