Rabo is not even mentioned in this thread - I think EBS is what i'll go for

J

junii

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http://www.askaboutmoney.com/showthread.php?t=20747

Its the best buys for regular savers. I always thought rabo was very good for savings but it seems to me that maybe EBS is the way to go. Guaranteed ECB until 2010 and the same sort of conditions as the others.

Is there any criticisms of EBS that I should know of. Is there an EBS in Galway?
 
Rabo don't offer a regular savings account but their 5% on up to €10K is the best deal on offer for lump sum demand deposits at the moment as far as I know. You are not comparing like with like here.

There are lots of criticisms of EBS in other threads but probably nothing that should impact your decision to go with this account if you feel that it's the most suitable for your needs.
 
That thread is in relation to Regular Saver accounts, Rabo don't offer a regular saver accounts. When comparing products, it's only fair to compare like with like. Including rabo against the offers in that thread is totally out of context.

Post crossed with ClubMan.
 
If you have a lump sum then why not combine the best of both worlds - lump sum in Rabo at 5% on up to €10K and drip feed €1K or whatever into one of these regular saver accounts? Not sure if you can drip feed directly from Rabo but that's probably a dealt with in one of the many other threads on this sort of topic.

By the way - I'm not sure that the proximity of an EBS branch office is that important since you can presumably open and operate this account remotely and lodgements will be done by direct debit. The way things are going you will want to steer clear of EBS branch offices anyway if you are in any way claustrophobic!
 
Guys, I won't deny my confusion.

I just want to save 800 a month. I am willing to give exactly this much every month. I don't mind being locked out of accessing it for a year or so. So is it a regular savers account or lump deposit because to me these two terms seem to have the same meaning. Who would you choose and why if you were in my situation?
 
EBS is probably a good option in that case so. Regular saver accounts where you generally sign up to save a certain amount each month (some are more flexible than others and allow you to stop/vary contributions etc.) are currently offering better rates (c. 7%) than other deposit accounts (c. 5%). Just make sure to check the terms & conditions of each regular saver account and make sure that (a) they are as flexible as possible and (b) they meet your specific needs. The Financial Best Buys thread summarises the Ts&Cs briefly. Also remember that 12 monthly lodgements of €800 at 7% (gross) does not give you 12 x €800 = €9,600 @ 7% = €672 gross interest but rather €360 due to the fact that not all of the money is on deposit for the full 12 months. See this calculator. Note also that DIRT on any interest applies.
 
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