€5k for 5 years

Radiowriter

Frequent Poster
Messages
29
Hi,

I'm looking to put 5k away for a minimum of 5 yaers. Looking at First Active elevator and Rabo Direct.

Any other suggestions?
 
N

naitkris

Guest
the AIB Special Term Account 5 Year has a good rate of 4.80% AER for a 5 year term but the minimum is 6000 Euro however. the regular RaboDirect savings account offers 5.0% AER with little restrictions (unless you want restrictions to prevent withdrawing?) so long as the total in the account is no more than 10,000 Euro as then the rate begins to drop.

compare saving products in Ireland
 

Lingua

Frequent Poster
Messages
112
I just checked out this link. My question is why do I see so many recommendations for Rabo and none for Halifax ( the latter gives 7% on monthly savings). Is there something I have missed?
 
K

KalEl

Guest
Rabo is a straightforward on demand deposit account.
Halifax is a regular monthly saver account with restrictions.
 
N

naitkris

Guest
there are 3 Halifax savings accounts added, not all 3 fulfil every search criteria which is why they may not show on certain pages.

it all depends on what kind of account you are looking for, Halifax's monthly saver do not allow lump sum deposits, RaboDirect do. Halifax do allow with their 2 Year Fixed Rate Saver account to deposit "any amount from €2,500 up to €250,000" but the interest is 4.00% AER and not 5.00% with RaboDirect (on amounts of €10,000 or less), but changes to 3.75% for balances from €10,000 to €1 million. so it all depends on how much you want to save etc.
 
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