Folks
Looking for opinions. I appreciate interest rates are rock bottom at present, but looking for best option.
If you had 20K that you could put away for maybe 5 years, what product/service would you go with?
1) Looking at the Best Buy section here, the highest % rate is State Savings (5yr) at 0.98%.
Which would return €196, or €39.20 per year. Pretty rubbish.
2) If I did 1yr with KBC of 0.75%, returns €150 - DIRT of €55.50 = €94.50 per year. Admittedly a lot better than the return from State Savings.
3) Alternatively, if I put 20k into the KBC Investment Funds Calculator:
https://www.kbc.ie/our-products/savings-and-investments/investment-funds
And select 5yrs low risk, it returns potential €21600 - €25400.
Now I know this is an investment product (and I could get back less than the 20k I put in) but say it even returned the lowest estimate of around €21500, it would give:
€1500 - DIRT of €555 = €945, or €189 per year.
If I was lucky a got somewhere in the middle of their predictions:
€3500 - DIRT of €1295 = €2205, or €441 per year.
I might be tempted by the last option. What would the experts on here recommend?
Or is there something else I might look into?
Looking for opinions. I appreciate interest rates are rock bottom at present, but looking for best option.
If you had 20K that you could put away for maybe 5 years, what product/service would you go with?
1) Looking at the Best Buy section here, the highest % rate is State Savings (5yr) at 0.98%.
Which would return €196, or €39.20 per year. Pretty rubbish.
2) If I did 1yr with KBC of 0.75%, returns €150 - DIRT of €55.50 = €94.50 per year. Admittedly a lot better than the return from State Savings.
3) Alternatively, if I put 20k into the KBC Investment Funds Calculator:
https://www.kbc.ie/our-products/savings-and-investments/investment-funds
And select 5yrs low risk, it returns potential €21600 - €25400.
Now I know this is an investment product (and I could get back less than the 20k I put in) but say it even returned the lowest estimate of around €21500, it would give:
€1500 - DIRT of €555 = €945, or €189 per year.
If I was lucky a got somewhere in the middle of their predictions:
€3500 - DIRT of €1295 = €2205, or €441 per year.
I might be tempted by the last option. What would the experts on here recommend?
Or is there something else I might look into?