€50K in BOI - need to rehouse-advice?

C

cdee

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We have €50K in BOI - almost €40 in Special saver which continued on from SSIA and €10k in standard savings account. This is hard earned savings (as is most people's1) and is to guarantee my childrens secondary/tertiary education so cannot afford to only get €20K back if anything happens with BOI. Reading some threads, I'm thinking of going for EBS 18 month deposit and possibly Rabobank.

How safe is the EBS if anything happens them - is your money guaranteed?
 
Re: €50K in BOI - need to rehouse-advice??

The EBS participate in the Deposit Guarantee Scheme like the other Irish deposit takers.
 
Re: €50K in BOI - need to rehouse-advice??

Would you recommend putting more into Rabo bank?
 
Re: €50K in BOI - need to rehouse-advice??

Thanks guys - will look into this - very basic question - what exactly does AER mean as opposed to the actual rate advertised?
 
Re: €50K in BOI - need to rehouse-advice??

AER is the annual equivalent rate. So let's say a bank quotes a rate for six months or a rate for 18 months, the AER shows you what the annual equivalent is.

It makes it easier for you to compare, say, "4% for 9 months" with "6.5% for 13 months".
 
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