Raisin New Starter 3 month Account

P

PoppyPops

Registered User
Messages
11
Hi, I see Raisin now have an offer of giving 3.10% for 3 months for new customers only.
I've never had an account before.
Have 200k we want to invest but unsure where to put at the moment so we thought of putting it into this starter account for 3 months and then take it out with the interest as we are likely to be 2-3 months shopping around for alternative investment options and might as well get something for it if we can as it's just in current account. We would have to deposit as 100k each as it's limited to 100k per customer.
Would this be a good idea as a short term investment for some quick interest? I've not seen anything negitive on Raisin and the short term appeals. Thanks!
 
If your time horizon is just 3 months, then you won't find a higher rate out there. Just remember to withdraw after the 3 months.
 
In case it matters ... T212 offer 3% on demand which. The 0.1% might be worth foregoing for additional flexibility?

Best Buy - Savings Best Buys

Savings Best Buys: There are 3 savings best buy threads on AskAboutMoney that are updated frequently. Instant Access and Notice Accounts - Lump sum variable rate savings. Fixed Term Deposits - Fixed Lump Sum Term Deposits from a few months to a few years. Regular Savings - Smaller sum...
www.askaboutmoney.com

Best Buy - Instant Access & Notice Deposit Products

Euro Lump Sum Instant Access & Notice Deposit Products Available for Irish Residents - 10 Categories: Last Updated: 29 August 2026 Current ECB Deposit Rate: 2.25% 1. Lump Sum Instant Access & Notice Savings Products: Excluding Products with Fees Excluding Promotional Rates Excluding Pure MMF...
www.askaboutmoney.com
On the other hand the deposit guarantee seems low (if I'm reading the table correctly?), the rate is presumably variable and not fixed, and interest is paid gross so DIRT has to be reported/paid manually.
 
Thanks, just looked at it again, it says 3.10% fixed for the term of 3 months so that seems good as a short term option? Yes, the interest is gross so I do know that I have to report manually but I can do that...
I think I just had a little fear of it being an online bank but it all seems guaranteed and protected up to 100k, I don't see any negative reviews as such about the bank that I'm aware of...
 
For what it’s worth I have had six figure sums on deposit with Raisin’s partner banks via the Raisin platform over the last two years and haven’t had any major issues. I’ve found them good to deal with and any minor issues that arose were sorted out expeditiously. Can’t guarantee you the same experience of course, and like any bank they have their quirks and foibles, but I have had a positive and worthwhile experience overall.

I wouldn’t put my small change on deposit with Trading 212.
 
Just to clarify, you are right Clubman. I rang them and the 3.10% rate is AER so after 3 months you calculate what 3 months of that would earn. e.g. 100k would give approx €765 interest. I thought it was just on the 3 months - too good to be true I guess!
 
It would be €775 gross. They don't deduct at source so you get the 775 and up to you to pay the DIRT at end of year.
 
You must log in or register to reply here.
Back
Top