€34,000 for 6 months

frunzy

Frequent Poster
Messages
58
Hi all,
We have €34k to put way for around 6 months, we are getting some work done in house then thus the 6 months. We have been offered 4.1% (3.28% net) by EBS, does any one know is there anything better out there, our net gain would be a whopping €470.
Thanks in advance
 

jpd

Frequent Poster
Messages
1,714
Anglo Irish Bank are currently offering 4.95% for deposits with 3 months notice and 4.50 for 1 month notice.

Also 34000 x 4.1% x 6 months is 697 Gross less DIRT 20% = 558 not 470
Anglo = 34000 * 4.95 x 6 mts= 841 less DIRT = 672
 

ClubMan

Frequent Poster
Messages
43,868
You can do better than 4.1% gross CAR especially if you split the money between different accounts. See the Financial Best Buys forum for details of the latest high rate deposit accounts.
 
Z

z101

Guest
Bank of Ireland have a 3 mth bond at 4.5% gross. the term can be extended to six mths. Money can be withdrawn at anytime. Minimum of 25k to open. I suggest to do 6 mths here at 25K and the rest in Rabo at 5%.
 
Z

z101

Guest
Where can you get better than 4.5% (Exludeing Northern Rock and First Active products) ??
 

frunzy

Frequent Poster
Messages
58
thanks lads, jesus are on the ball! thnaks for taking the time to research & reply especially during this silly season. I will look in to theanglo irish thing for sure. I hate getting ripped off and the extra few bob is better in my pocket.:)
 

ClubMan

Frequent Poster
Messages
43,868
Where can you get better than 4.5% (Exludeing Northern Rock and First Active products) ??
Why exclude them!? And Rabo are currently offering 5% on €10K (with the possibility of opening multiple accounts in some circumstances - e.g. spouse, kids etc.) and while their rate is due to fall to 3.75% in January maybe they will announce something soon about the rate staying higher than that? And you could drip feed an EBS 7% regular saver with €1K p.m. for the 6 months and then cash in for a bit more interest. And so on...
 
Z

z101

Guest
Clubman where (after 10K @ Rabo) would you put a lump sum of 30K for example?
 

ClubMan

Frequent Poster
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43,868
The original poster said "we" so I presume that there are at least two of them. And they didn't stipulate that it must be a single account. To get the best deposit interest returns will require a big of juggling of multiple accounts in most cases - e.g. 2 x less than (to avoid the lower rate) €15K in FA at 5.22%. The rest in Rabo (5% at the moment), NR (4.5% + 0.5% CAR bonus for January/February on accounts open at the end of the year) etc. Maybe drip feed one or more open ended 7% regular saver accounts (EBS is the most flexible as far as I know). Do you get it now?
 
G

Gautama

Guest
If you fancy a flutter you could put some in Prize Bonds.
Guaranteed not to lose money (apart from what you'll lose from inflation), but in with a chance of some winnings.
Better yet, get an American Express Blue, use it to buy €34k of Prize Bonds online, then you'll get €340 back from Amex just for using the card!
 

ClubMan

Frequent Poster
Messages
43,868
Better yet, get an American Express Blue, use it to buy €34k of Prize Bonds online, then you'll get €340 back from Amex just for using the card!
Maybe not?
Glad to help - Note that I got a letter from Amex this week noting that 1% will no longer be available on certain purchases, including prize bonds, stocks or other convertible instruments. I did try some time back buying prize bonds on the first day of the billing period on Amex Blue to earn the 1% bonus, using the 56-day interest free period to defer payment for 7 weeks, then selling the bonds after the minimum 12 week period. My plan was that I would earn 1% on my money in 5 weeks.

However, the prize bonds people would charge my account on day 1 but would not issue the bonds for 2 weeks approx, and the sheer hassle make it a bit of a pain.
 
G

Gautama

Guest
Where is it on their website? The link in the Financial Best Buys forum no longer works. Are you sure that they're still offering it?
Possibly not. I got mine recently, August I reckon. It was advertised on their website, but I notice their website has changed and I can no longer find reference to Amex Blue.
Anyway, it was an ordeal just to get the application form.
My story is here:
http://www.askaboutmoney.com/showthread.php?t=46612#15
Post #15

American Express state the following:
http://www.americanexpress.com/ireland/personal_cards/american_express_blue_credit_card.shtml

Seems like Bank of Ireland don't want to publicise their issuing of AmExBlue.
I remember reading on another post that they get less revenue out of it than for other cards.
 
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