Regular Saver & Lump Sum Deposit

Hi, new to this forum and would appreciate advise on best regular savers account and lump sum deposit account assuming monthly contribution of €400 for max 12 mths before we have to withdraw it & lump sum deposit of €10k ... which will also need to be withdrawn in a years time ... would it be better to deposit lump sum with for eg. Rabo (think 5%) and save with Northern Rock? I think NR give reduced rate for sum over €10k. Have been looking at threads but so much info would appreciate if anyone has been in a similiar situation & could offer concise advice?! Thanks in advance!

For a lump sum of 10k rabodirect at 5% is best (NR is 4.30% at the moment, rising to 4.50% in July). Regular saver at €400 per month is harder to answer. Did you study the best buys forum? Regular saver accounts were devised to encourage SSIA savers to continue saving. Quite a few schemes are out there - all with different terms and conditions which need to be studied. The best rate at the moment is AIB (7.1%) but look at their terms and conditions i.e. max is €300 per month, they only guarantee the 7.1% until 1st Jan 08 and you must have a current account with them. Others to look at are Anglo Irish Bank (7%) but again look at their terms and conditions e.g. max €1000 per month but no withdrawals and they only guarantee 4.50% so could change rate anytime. Likewise Halifax (7%) but no guarantee - they can change rate anytime. You take your choice. Purely on a personal basis I think Bank of Ireland could be the best in the long run. They guarantee ECB+2.75% for 18 months and terms and conditions seem less restrictive. With SSIA's now matured I think some regular savers schemes could reduce or disappear shortly as people have by now decided what to do.