Thanks Knuttell. Revolut have a savings account that gives 3.5%. they will deduct tax at source, so it ends up at about 1.8% net after tax and service charges.Open N26 account, you'll get 2.8% interest on the standard account.
Correct.If I go with the 2.8% at N26, I need to declare the interest on my tax returns and pay 33% DIRT?
Your savings over the next 17/18months (10k/150 = 67 weeks) will be put to use within the next three years - that is too short a timeline to consider risk in investments beyond a savings account return of 3/4% per annum.Thanks for the feedback. All responses so far are about savings account. Is that because EFTs just aren't worth it for my situation? Or is it because I posted this in the savings section of the forum? I couldn't see a general section to post in.
That make sense. I'll look into Trade Republic for the 4%. Thanks for the advice.Your savings over the next 17/18months (10k/150 = 67 weeks) will be put to use within the next three years - that is too short a timeline to consider risk in investments beyond a savings account return of 3/4% per annum.
After that, targeting 30k towards an unspecified goal further down the line might need to be teased out as to what you would be open to (risk & return wise) once the initial savings goals had been achieved.
What does this mean?and possibly exit tax for T212.
TR Covered up to 100k but interest is only on 1st 50k so probably no point leaving more than that inYou could also open a Trade Repulic account and get 4% on anything up to 50000 euro. The rate may change come summer or later, but it's a good option. Trading 212 does 4.20% but is only covered up to 20000 euro, whereas TR is covered up to 100000. Both options would mean needing to declare DIRT, and possibly exit tax for T212.
I don’t believe that's correct.Thanks Knuttell. Revolut have a savings account that gives 3.5%. they will deduct tax at source, so it ends up at about 1.8% net after tax and service charges.
If I go with the 2.8% at N26, I need to declare the interest on my tax returns and pay 33% DIRT?
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