best regular saving option

K

KS1

Registered User
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Looking to put an initial sum of €6,000 into a savings account followed by monthly contributions of €150. can't decide which is the best option. would people reccomend the first active savings acc at 5.25%aer or is the aib regular saver account a better option. bit confused over which to go for. want to have option to make withdrawals at short notice and obviously avoid paying fees. maybe there is another product better suited to me that I have overlooked. any advice greatly appreciated
 
Have you read the Financial Best Buys forum for details of the best lump sum and regular saver deposit rates on offer and the many threads in this forum dealing with these accounts?

FA do not pay 5.25% CAR - they pay 5.22% gross CAR on up to €15K and, according to what they told me, if the account holds more than €15K then the rate falls to 4.07% gross CAR on the lot (not just the balance above €15K). On the other hand it is the best demand deposit rate on offer at the moment unless you consider some of the regular saver accounts offering c. 7% and allowig withdrawals (EBS for one if not the only one that allows such access).
 
If it was me I'd try FA for the €6K since 5.22% is the best lump sum rate on offer and then EBS for up to €1K p.m. since EBS's regular saver seems to have fewer restrictions than other regular saver accounts - but you need to be careful and check the detailed terms & conditions and any restrictions particularly with the regular saver accounts.
 
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