80,000 euro to deposit

M

metal1

Guest
Hi I've recently come into 80,000 euro and am just wondering which bank/building society has the best rate at the moment. I have no mortgage or debts so really I'm just looking for somewhere to put it that doesn't tie it up for too long but gives me a good return.

Thanks
 
You need to decide how long you want it locked away for.

On Demand? - Anglo offer the best rate at 5.5%

6 Months? - Investec offer the best rate at 6.4%

9 Months? - Investec offer the best rate at 6.43%

12 months? - Investec offer the best rate at 6.5%

As the ECB are going to cut rates on Thursday - you should lock for as long as you can asap.
 
metal1 said:
Hi I've recently come into 80,000 euro and am just wondering which bank/building society has the best rate at the moment. I have no mortgage or debts so really I'm just looking for somewhere to put it that doesn't tie it up for too long but gives me a good return.

Thanks
Click to expand...

only problem with investec is they are 'only' covered up to the first ST£50k under the FSCS

If you do not require access to the money for 1 year then I'd definately recommend fixing
 
Hi
If you don't want to exceed the gurantee up to Stg50,000 (approx Eur58/59k at current rates), you could split the Eur80k, and put Eur50k into Investec for 6/9/12 months and put the balance into something like First Active's 6 mth fixed term deposit which is offering 6.25% and I think is the 2nd best offering after Investec. (I have heard they are likely to close this off by the end of this week as they have received over Eur120m since the offer started)

S.
 
Thanks for all your replies, I opted for first active for 6 months. At least now I have a bit of breathing space and will look into investec after that. It was the panic of having this cheque sitting looking at me and knowing I should deposit it somewhere quickly!
 
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