Use this calculator to see why. Basically 12 monthly lodgements of €1K at 7% returns less than €12K at 7% because in the first case only €1K is on deposit for 12 months and earns the full 7%, the next lodgement earns 11/12ths of that, the next earns 10/12ths etc. The last lodgement is only on deposit for one month so earns just 1/12th of 7%. (Roughly).Clubman
Could you please show by illustration how 12 monthly deposits of €1K at 7% gross CAR is not the same as €12K @ 7%. (You can obviously make more money by depositing at c. 5% and then drip feeding into an account at c. 7% than just leaving it in the 5% account)
No - I never said that. You could be better off lodging the €10K with FA, then saving the €250 plus €750 from your €10K lump sum into the EBS 7% account to maximise your returns.We have a lump sum deposit of 10k plus a monthly savings of €250 p.m. We were going to put the €10k into First Active and the €250 p.m. into the EBS at 7% car. However if I understand you correctly we should put the €10k into First Active as well as the €250p.m. into the First Active.
You could be better off lodging the €10K with FA, then saving the €250 plus €750 from your €10K lump sum into the EBS 7% account to maximise your returns.
Would you not be better to lodge the 10k into first active and then to put 1000 per month into ebs from the first active account and the 250 into the first active account every month.
Where does it say that? The account accepts lump sums and regular savings so it's certainly possible to do more than one lodgement.i think you can only do one lodgement into the fa account!!!
i think you can only do one lodgement into the fa account!!!
I don't see how those terms & conditions suggest that one can only make one lodgement? In any case the account can also accept regular saver lodgements so I can't see that they will be turning away non regular saver lodgements subsequent to the initial opening lodgement?I think Gordongekko is right. Reading the T&Cs [broken link removed]
Assume they'll let one change the initial lodgement cheque from what was given on the on-line application form.
Hmmm ... maybe SO includes an electronic transfer from a non FA account?
Are you sure that these charges apply to this account and not some other account covered by the same general terms & conditions? Can you link to info on this?There is a 6.35euro charge on this account (per quarter)
No maintenance/transaction charges with [broken link removed] or [broken link removed] - just some charges for stuff like same day electronic transfers (maybe only with NR?) which can easily be avoided.are there charges on the Rabo / NR accounts?
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