Hi OrlaM. I was in the same situation as you. Overpaying on my mortgage with ECB +.95, whilst all the papers etc were saying to put it in a deposit account paying x amount. But any time I did the calculations and compared. it always came out favourably on the overpayment side. Because I could always see that once I put a certain amount, say €1000, against the mortgage, and then asked them to drop my monthly payments accordingly (staying to the same mortage term), I could see very easily how much money it was saving me a month. I'd then compared the interest I'd get in a deposit account and it was less (even before DIRT). I was confused...how could all the experts be wrong...so confused in fact I put an asking post on the aam here. didn't get any answers. But I'm certain my calcs are right. that's my experience.